How does a foreign buyer using a US LLC go from offer to recording?

Form the company before you reserve, not after. Then obtain its federal tax number and open its US bank account, which is usually the slowest step. The company signs the reservation and the purchase agreement through its manager, and deposits leave the company's own account. At closing the title company asks for the company's formation papers, its good standing, proof of who may sign and the closing affidavit Florida now requires. The developer deeds the home to the company, the deed is recorded with the county, and the company then has yearly filings to keep it alive.

Because the buyer named in the purchase agreement is the buyer. Pre-construction agreements usually limit assignment, so moving a signed contract from your personal name into a company later can need the developer's written consent, and sometimes a fee. Our page on whether you can assign a pre-construction contract explains the clause; Delano's assignment terms show one building's version.

Whether a company is right for you at all is a question for a US tax adviser and an attorney before anything else. A company changes reporting, liability, financing and, for a buyer outside the United States, estate questions. Our pages on LLC, trust or personal name and estate tax exposure for non-resident owners list the questions to bring.

Four things, in this order.

Formation. Articles of organisation filed with a US state, often Florida, and a registered agent with a Florida address if the company is formed elsewhere and does business here.

An operating agreement. It names the members and the manager, and says who may sign for the company and buy property.

A federal tax number. The company applies to the IRS for an employer identification number. A foreign owner can obtain one without a US social security number, though it takes longer by post or fax than online.

A US bank account. Banks ask for the formation papers, the operating agreement, the tax number, identification for each owner and the source of the funds. Expect questions and time. Our page on what a US bank asks a foreign buyer covers the interview.

With those in place, the manager signs the reservation and the purchase agreement in the company's name.

From the company's US account to the escrow agent named in the agreement, in stages over construction. If funds start abroad, they move first into the company's account, with a record that links them to the owners. Banks can hold international wires that arrive without an explanation; our page on why international wires get held shows how to avoid it.

Deposits on a developer's condo are held in escrow under the Florida condominium statute. The buyer also has 15 days to cancel after signing or after receiving the required documents, whichever is later. Confirm wire instructions by phone with a known contact before every transfer. Read what to ask before you wire and source of funds documentation.

Closing comes at delivery, and it can be done from abroad. The title company typically asks for:

The articles of organisation and the operating agreement.

A certificate of status, or good standing, from the state where the company was formed, dated close to closing.

A resolution or consent of the members authorising the purchase and naming who signs.

The company's tax number letter and the identification of the signer and the owners.

The Florida buyer affidavit. Since 2023, state law restricts some purchases by people and companies tied to certain foreign countries named in the statute, and buyers sign an affidavit at closing. Ask counsel how it applies to the company's owners.

Federal rules on reporting cash purchases by companies have also changed in recent years. The title company will say what it must report and what it needs from you. Signatures made abroad are usually notarised and apostilled as the title company directs.

The developer's deed conveys the home to the company. The title company records it with the county clerk, and the owner's title policy names the company. The recorded deed shows the company's name, and the state's records show its manager or registered agent, so this is a measure of privacy, not invisibility.

Then the upkeep. A Florida company files an annual report with the state each year, between 1 January and 1 May, or it falls out of good standing. A US company owned by a foreign person may also have federal filings each year. Insure the home in the company's name, pay the property tax bill each November, and keep the company's papers in the same file as the condominium's. Our page on owning from abroad covers who looks after the home itself.

If counsel prefers a trust to a company, read how a trust buys a pre-construction condo, from offer to recording. For the full foreign buyer picture, read can a foreigner buy property in the United States and foreign national financing. The desk reads the purchase agreement, the assignment clause and the deposit schedule with you and your counsel before the company signs; the Delano dossier and our note on buying from abroad without flying in are good places to start.