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United States · USD

Miamireal estate

Miami is a condo-insurance and HOA market with a large cash and foreign-buyer share — and since Surfside, a statutory structural-reserve regime that has repriced older buildings.

New YorkLos AngelesChicagoAustinSeattle
County records path
HOA & insurance checked
3D map
50state codes — there is no one US market
Titleinsurance, not a notary, protects the buyer
FIRPTAwithholding hits foreign sellers, not buyers
No SSNneeded to take title as a foreign buyer
What a purchase really costs

$750,000 home in Miami

Owner's title insurance (≈0.5%)
$3,750
Lender, escrow & appraisal (≈1%)
$7,500
Attorney, recording & prepaids (≈0.3%)
$2,250
Cash needed at closing
$763,500

≈ +1.8% over the price. There is no national property code. Transfer tax is a city and county question — New York adds a buyer mansion tax above $1m, Chicago charges the buyer 0.75%, Texas charges nothing and takes it back in annual property tax. Since the 2024 NAR settlement, buyer-agent compensation is negotiated in writing rather than assumed from the listing.

Rentals run on rules

The rent side, in three lines

  • Deposit caps, notice periods and eviction timelines are state law — one to two months is common, but New York and Florida are not the same statute.
  • Rent stabilization is local: New York City has it, Miami and Austin sit under state preemption against it.
  • Insurance is the variable that reprices a building — Florida wind and flood can move faster than the asking price.

HOA and condo documents are the yield. Read the reserve study and the special-assessment history before the inspection.

Cities

Six metros, six closing customs

The buyer-side transfer tax is the fastest way to see how local this market is: 1%+ in Manhattan, 0.75% in Chicago, zero in Austin and Seattle where the seller pays instead.

Neighborhoods

Areas in Miami

Premium districts with price anchors, walk and transit scores.

Florida now requires milestone structural inspections and funded reserves on condominium buildings three storeys and up. The result has been large special assessments on aging stock. The reserve study and the assessment history are the deal.

Wind and flood insurance can move faster than the asking price, and the state insurance market has been volatile for years. Get a quote before the inspection period ends, not after.

Brickell, the beach and suburban Miami-Dade are not one yield. Florida closings run through title companies, not a New York-style attorney table.

FAQ

Cash only?
Cash is common, not mandatory. Lenders re-underwrite insurance and HOA health, which is where financed deals fail here.
Foreign-buyer tax on the way in?
No FIRPTA on purchase. Budget documentary stamps, title and the HOA estoppel like a local.

All markets: sivrce.com · Georgia marketplace: sivrce.ge · Prices and availability are published only when a verified listing exists. Market currency: USD.