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Sorry Admin No System Is Safe :)

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List of Documents Required for International Buyers | Lotus Miami Real Estate
Documentation needed for International Buyers

List of Documents Required for International Buyers

To buy a real estate property in Miami and throughout South Florida, you need to submit a number of documents used to validate your identity as well as your purchasing or debt capability. This documentation is very important because it allows all the entities involved to deliver their services during the purchasing process.

There are two ways to buy real estate in Miami. Buying with cash or through a bank loan, what is known as a ‘Mortgage’. The processes and documents required for both methods are similar, however, when buying with a bank mortgage you will be required to go through an independent  process directly with your chosen lender who may require additional documentation not listed here.

Checklist of documents

Comprehensive list of documents required to purchase a real estate property in Miami and South Florida

These are the documents that need to be provided to purchase a real estate property in Florida:

  1. Copy of valid passport with valid visa to enter the United States. If your country does not require a visa to enter the United States then the copy of the passport is sufficient.
  2. Proof of Credit: It is necessary to demonstrate that existing credit accounts to your name are in good standing at the present moment. You need to submit four (4) different proofs of credit to demonstrate your ability to pay. There are several options:
    • Copy of credit card statements
    • Letter of prior bank loans to purchase an automobile for example
    • Copy of your current life insurance policy.
  3. Proof of Income: You must prove your income level by providing a letter from your accountant or employer demonstrating the following details (in dollars):
    • The profession, employer and job description of the buyer – If you own your own company you must submit documentation establishing the legal existence of the same. For example its articles of incorporation or any other document showing your bond.
    • Amount of annual income up to the past 24 months.
  4. Two (2) letters of reference from your bank including the date of creation of the account, current date, address, owner information, balance and include contact information of the bank agent that issued the letter.
  5. Bank statements for the last three (3) months of each of your bank accounts in your home country and in the United States (if aplicable). It is necessary to have a bank account in the United States to carry out the purchase of the property. If you do not have a bank account here, we can help you open it as soon as possible, it is not a complicated process and it takes only a couple of days. Please get in touch with us to get started with the process now.
  6. Proof of residency establishing your primary place of residence, this may be your driver’s license, identification card with your current address, electricity bill showing your name and address, telephone bill or other proof that shows your name and address where you live.

It is possible that additional documents may be required depending on the property you intend to purchase. The seller or the lender  (if you’re buying with a mortgage) may require additional information on your part to proceed. However, in most cases this list covers the standard documentation needed to begin the purchase process.
Please contact us if you have any questions about these documents or the purchase process, we will be glad to help you gather the documents and present them in the best possible way.

 

The Lotus Team

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