Who buys and where
- Buyer mix: diaspora families buying homes to live in plus investors placing dollar savings into rentals.
- Many buyers hold funds in US, Panama, or other offshore accounts, the transfer question is about documentation, not controls.
- Doral, Weston, and Katy (TX) anchor the Venezuelan buyer map; Miami condos for investors.
- Immigration status varies widely (asylum, TPS, residency, citizenship), loan options depend on status.
Financing without US credit
Foreign national loans are built for exactly this: 25–30% down is typical, with qualification on passport, visa status, and documented reserves instead of a US credit score. See foreign national loan requirements › Investors buying rentals can also use DSCR loans, which qualify on the property’s rental income.
ITIN
Most financed purchases and US tax filings require an Individual Taxpayer Identification Number. File Form W-7 with the IRS (passport required); many buyers complete it alongside the purchase with help from the title company or a CPA.
FIRPTA withholding on sale
When a foreign person sells US real property, the buyer must withhold 15% of the gross sale price and remit it to the IRS. This is a withholding, not the final tax. File a US tax return to compute the actual gain and claim any refund. Plan for it in your exit math from day one.
Moving money as a Venezuelan buyer
Most Venezuelan buyers operate from dollar savings already outside Venezuela, US, Panamanian, or European accounts. The transfer itself is usually straightforward; the work is documentation. US lenders need a clear source-of-funds story: years of statements showing how the savings accumulated. If funds are still inside Venezuela, the path is harder and slower, engage a cross-border advisor before committing to a purchase timeline. Never use informal channels: the paper trail must be immaculate.
Remote closings & power of attorney
You do not need to be in the US to close. The standard structure: a US bank account for wires, a power of attorney authorizing your representative, and a mail-away/remote closing coordinated by the title company. Lenders and title companies handle foreign-buyer remote closings routinely.
Managing from abroad
A Florida property manager handles leasing, maintenance, rent collection, and bill payment; you oversee from monthly statements. Interview 2–3 managers, verify their foreign-owner experience, and confirm how they handle security deposits and tax documents (1099-MISC / 1042-S).
Tax overview
US tax residents (including many asylees and TPS holders) are taxed on worldwide income like anyone else. Nonresident Venezuelans face the standard foreign-investor rules plus FIRPTA on sale. Status determines everything, get advice matched to your immigration situation.
Tax notes on this page are general information, not tax advice. Cross-border taxation is complex, consult a CPA or tax attorney licensed in the relevant jurisdictions before structuring your purchase.
Popular areas
- Miami, Doral ("Doralzuela"), the community hub; condos and townhomes.
- Weston, Single-family for Venezuelan families putting down roots.
- Orlando, Growing Venezuelan community; investor condos.
FAQ
Does immigration status affect mortgage eligibility?
Yes, significantly. Foreign national loans work for nonresidents with valid status; US tax residents (green card, substantial presence) access conventional/FHA/VA like anyone. Your status sets the menu.
Can I buy while on TPS or asylum pending?
Often yes, several loan paths exist depending on documentation. Discuss your specific status with the loan officer before house-hunting.
How do I document dollar savings held abroad?
With statements showing accumulation over time. Lenders want seasoning and a coherent source story, salary, business sale, family support documented.
What is FIRPTA for Venezuelan sellers?
15% withholding on gross sale price for foreign (nonresident) sellers, reconciled via US tax return.