Frequently Asked Questions

Whether you are buying your first Miami property, preparing to sell, relocating from another state, or exploring South Florida real estate from abroad, the process raises real questions that deserve straight answers. This page reflects the questions we hear most often from our clients, answered with the same candor and depth we bring to every conversation. If you do not find what you are looking for here, we welcome you to reach out directly. We are always happy to talk through your specific situation.

Buying Property in Miami

The process typically begins with defining your goals, budget, and preferred neighborhoods, followed by mortgage pre-approval if financing is involved. Your agent will then curate a selection of properties, arrange private showings, and guide you through making an offer, negotiating terms, conducting due diligence (inspections, title search), and closing. In Miami’s luxury market, having an experienced advisor from day one is essential, as many of the best properties trade off-market.

A cash purchase can close in as few as 14 to 21 days. A financed transaction typically takes 30 to 45 days, depending on lender timelines and the complexity of the deal. Pre-construction purchases operate on a different timeline entirely and are tied to construction milestones.

Buyers in Florida generally pay between 2% and 5% of the purchase price in closing costs. These include title insurance, title search fees, recording fees, and lender fees if financing. Florida has no state income tax, but buyers should budget for documentary stamp taxes on the mortgage and the deed. A real estate attorney or title company can provide a precise estimate based on your transaction.

Miami consistently ranks among the top U.S. markets for real estate investment, driven by population growth, international demand, a favorable tax environment (no state income tax), and strong rental demand. Luxury properties in neighborhoods like Coconut Grove, Coral Gables, and Miami Beach have demonstrated long-term value appreciation. That said, all real estate decisions should be evaluated individually based on your financial goals, timeline, and risk tolerance.

S² Luxury Group focuses on Miami’s most sought-after neighborhoods for luxury residential and commercial property: Coconut Grove, Coral Gables, Downtown Miami, and Miami Beach. We have deep knowledge of each community and can help you identify which area best aligns with your lifestyle, investment goals, or business needs.

Selling Property in Miami

Pricing is grounded in a detailed comparative market analysis that considers recent sales of comparable properties, current market conditions, your property’s unique features, and competing inventory. Overpricing is one of the most common and costly mistakes sellers make. We provide an honest, data-driven recommendation designed to attract qualified buyers and maximize your net proceeds.

We approach every listing as a bespoke marketing campaign. This includes professional photography and videography, targeted digital advertising, placement on premium platforms, and direct outreach to our curated network of qualified buyers, including international clients. We also have access to off-market and pre-market channels that reach buyers who never see a public listing.

This varies depending on price point, neighborhood, and current market conditions. Properly priced, well-presented properties in desirable areas can sell within weeks. Properties in the ultra-luxury segment above $10 million typically carry longer average days on market. We provide a realistic timeline as part of our initial seller consultation.

Not necessarily. We evaluate each property individually and advise on which improvements, if any, are likely to yield a meaningful return. Sometimes strategic staging or minor updates make a significant difference. Other times, the property is best presented as-is, particularly for buyers who intend to renovate to their own taste.

Sellers in Florida typically pay the real estate commission, documentary stamp taxes on the deed (calculated at $0.70 per $100 of the sale price, or $0.60 per $100 in Miami-Dade County), and any agreed-upon credits or concessions to the buyer. Title insurance for the owner’s policy is customarily paid by the seller in most Florida counties, though this is negotiable. Your net proceeds statement will itemize all costs in advance of closing.

Relocating from Other States to South Florida

Beyond finding the right home, relocation involves understanding neighborhood character, school options, commute patterns, flood zone designations, insurance requirements, and lifestyle fit. South Florida is a diverse market with very distinct communities: what works for a family prioritizing top-ranked schools in Coral Gables looks very different from what works for a professional seeking a walkable urban lifestyle in Brickell. We help you map your priorities before you ever tour a property.

Florida has no state income tax, no estate tax, and no inheritance tax. For high-income earners and business owners relocating from states like New York, California, or Illinois, the tax savings can be substantial. Florida also offers the Homestead Exemption, which can reduce the assessed value of your primary residence for property tax purposes and caps annual assessment increases at 3%. We recommend consulting with a tax advisor to understand the full impact on your specific situation.

Yes. Our relocation service goes well beyond the transaction. We connect clients with trusted local professionals including attorneys, accountants, interior designers, contractors, and school advisors. Our goal is to make your transition to South Florida feel seamless, not just successful on paper.

This depends heavily on your lifestyle, family structure, budget, and priorities. Coral Gables and Coconut Grove tend to attract families and those who value tree-canopied streets, top schools, and a quieter pace. Miami Beach and Edgewater appeal to those drawn to waterfront living and urban energy. Pinecrest and South Miami offer suburban comfort with easy access to the city. We take the time to understand what matters most to you before making any recommendations.

Buying Property in South Florida as a Foreign National

Yes. There are no restrictions on foreign nationals purchasing real estate in Florida. The process is largely the same as for U.S. citizens, with some additional steps related to financing, tax identification, and title. Miami is one of the most internationally active real estate markets in the world, and we are experienced in guiding international buyers through every step of the process.

Foreign buyers should be aware of several key considerations. Under FIRPTA (the Foreign Investment in Real Property Tax Act), when a foreign national sells U.S. real estate, the buyer is required to withhold a percentage of the sale price (typically 15%) and remit it to the IRS as a prepayment against potential capital gains tax. Additionally, foreign nationals may be subject to U.S. estate tax on U.S.-sited assets. We strongly recommend working with a U.S. tax advisor experienced in international real estate before purchasing.

Yes, though the options are more limited than for U.S. citizens or permanent residents. Several U.S. lenders offer “foreign national” loan programs, typically requiring a larger down payment (often 30% or more), proof of income, and additional documentation. Many of our international clients purchase with cash, but we can connect you with lenders who specialize in cross-border financing.

The process mirrors a standard transaction with a few additional layers. You will need a U.S. Individual Taxpayer Identification Number (ITIN) for tax reporting purposes, and you may need to open a U.S. bank account to facilitate the transaction. Wire transfers from abroad are common and manageable with proper planning. Having a real estate attorney familiar with international transactions is highly recommended. We coordinate with all parties on your behalf and ensure nothing falls through the cracks.