"Tobias invests major time in his clients' interests and doesn't disappear after the closing." – George & Susi Schu, Fort Lauderdale

The process of buying and selling Florida real estate differs drastically from real estate transactions in many other countries, and in several aspects also from those in other US states.

As a brief introduction, Tobias Kaiser has written a short guide "Buying and Selling Florida Real Estate". This brochure, based on 19 years of practice, is in its 14th edition and available as a free PDF in English and German. It covers the following subjects:

1. Property Types: Residential, Commercial, Business Opportunities
2. Step by step: The sequence of a typical US real estate purchase or sale
3. Agents, Brokers and Realtors®: how to select a real estate agent, what service should you expect, how one Realtor can introduce you to every available property
4. Representation: what to watch out for, if you want your interests represented
5. From offer to contract: who writes the offer, where do down payments go
6. Foreclosures, Short Sales and Auctions: chances and risks 
7.  Financing: how to choose a lender (or lately: how to find a lender)
8. Building- and other Inspections
9. Immigration: which purchases may qualify a buyer for a visa or permanent residency
10. Taxes: benefits of advanced tax planning
11. Closings: what can you do to ensure a smooth transfer of ownership
12. Broker or not: are there advantages of working with a Realtor®? Better work with many than with one?
    

An excerpt:

9. IMMIGRATION
        
Non-US-citizens can enjoy and visit their US-properties without too many restrictions or difficulty. Individual visits will be limited to several months, and from a taxation perspective, certain time-limits are important to observe (-> "substantial presence test").

Qualification: contrary to what some attorneys and brokers promise, there are no guarantees for the decisions of the immigration office USCIS. Especially the purchase of an individual residential property does not qualify for a long-term visum or permanent residency.

However, when specific criteria in the purchase of investment real estate are fulfilled, a long-term visum or permanent residency can be reasonably expected. Interesting to many prospective buyers are the EB-5 Investor Visum and the E-2 Investor Treaty Visum.

EB-5: With Miami-Dade and Monroe counties being declared a "regional investment center", the threshold for a local investment qualifying for an EB-5 visum has been lowered to $500,000, with at least 10 fulltime positions being created for US-workers. An EB-5 will result in a temporary Green Card for the investor, his spouse and children under 21, valid for two years, after which a permanent Green Card may be issued. US citizenship can be applied for after five years from the initial approval. The investor can, but does not have to be actively involved in the business.

E-2: valid up to five years, it requires a "substantial investment" ($90,000 - $100,000 equity have qualified several investors in the past) in an "active ongoing business", which must be "at risk" (no raw land, for example), and the investor has to be actively involved in the day-to-day operation. An E-2 may be renewed as long as the underlying original investment continues to exist and operate.

As with residential real estate, there are very few restrictions for non-US-citizens regarding the purchase of investment real estate.

If you are a non-US resident considering buying US property, please speak with your broker or agent about your plans. US real estate agents and brokers are not allowed or qualified to give legal advice or to practise law, so it is vital to consult with a recommended immigration specialist prior to any purchase.

More information

Please click here to request your free copy of the guide to "Buying and selling Florida Real Estate".

For any questions you may have (as well as comments and corrections), Tobias Kaiser cordially invites you to contact him for a free consultation without any obligation on your part.

The information above has been obtained from sources believed reliable but is made without any guarantee or warranty of completeness or accuracy. Before you engage in any real estate transaction, it is your responsibility to consult with your tax, financial, and legal advisors.

Copyright 1996–2009 ©Tobias Kaiser. Use or reproduction, in part or whole, only with written permission.