Can foreigners buy property in Miami? How to buy pre-construction

Short answer: Yes. Foreign nationals can buy property in the United States without a green card or residence visa. In a pre-construction purchase you reserve the unit, sign the contract and pay deposits in stages during construction (about 40% on a 10/20/10/60 plan), held in escrow; the balance is paid at delivery, in cash or with a mortgage.

Buying pre-construction property in Miami is simpler than most international buyers imagine. The big difference from a resale is that you pay in stages, over the course of construction, rather than all at once. Here is the process from start to finish.

1. What is the property for?

Before looking at any building, the first conversation is about your goal: is it to live in, for a child studying in Miami, for rental income, or to have a foothold in the US? That changes everything, neighborhood, unit type, and rental rules.

2. How do you choose a project and reserve a unit?

With your goal clear, we shortlist the projects that fit and you choose the unit. The reservation is made with a first deposit and a form; at that point the developer holds the unit in your name.

3. How does the 10/20/10/60 payment plan work?

Every project has its own schedule, but a very common model in Miami is:

• 10% at reservation
• 20% at contract signing
• 10% at a construction milestone (for example topping off, when the structure is complete)
• 60% at closing (when you get the keys)

Notice: across the whole construction you put in about 40%, in installments, and most of it, the 60%, only at the end. That gives you time to plan financially.

4. Is your money protected during construction?

Your deposits don't go straight to the developer: they sit in an escrow account, controlled by a neutral third party, with specific protection under Florida law. Before any transfer, we always verify the details by phone.

5. What happens at delivery and closing?

When the building is ready, you pay the balance (cash or financed), sign the documents, and receive the keys. From there the property is yours, to live in, rent, or hold.

What do real schedules look like?

Each development sets its own plan. Some schedules published by developers (percentages of the price, from reservation to delivery):

To choose a project, browse new developments by neighborhood and how much a condo costs in Miami.

Frequently asked questions

Do I need a visa to buy?

No. Buying does not require a visa or green card; you need a passport and the documents requested by the developer and the closing agent.

Can I back out after signing?

In Florida, a buyer of a unit sold by the developer has 15 days to cancel in writing after signing and receiving the documents (section 718.503).

Do I need to be in Miami to sign?

Usually not. Contracts and closing can be signed remotely, with e-signature or a power of attorney, depending on the case.

Sources: Florida Statutes 718.202, 718.503; checked October 2026.