Payment
Until the termination of the operation all amounts relating to commitments made in the purchase contract is managed by depositing the equivalent in local currency at a Trust Account (Trust Account) managed by the broker or closing agent. Their due date will be credited the sums on deposit with simple bank transfers and selected the Trustee will issue to the other party a written declaration of transfer. To obtain the payment of the amounts the trustee must obtain the written consent of all parties and in case of dispute will have to await the ruling of a judge who will tell claimants. To more easily manage the buying and subsequent activities related to management of the property, you should open a bank account in a U.S. bank. Our company can support you to do so bearing in mind that you can manage your account via internet or fax communications.Property Tax
The annual property taxes (the equivalent of our ICI), Miami Beach, at about 2.5% of the value of cadastral income (Appraised value). Sometimes after a sale values are updated cadastral income and therefore not 'possible to know with certainty that cost until the next year.- purchase with a mortgage: fees are paid directly by the lending banks and set aside to be charged monthly along with the installment loan,
- purchase cash: annual payment by the end of March.
Considerations Capital Gain
The Capital Gain is a tax on gains derived from sale of property. Most expenditure on the property, including improvements to the facility and all maintenance will reduce the tax base on which to the charge which currently represents about 15%. The deduction is valid only if it owns the property for at least a year and a day otherwise the cost of tax rises to 35-40% for the gains achieved by the year or if the header and 'on behalf of a person not qualify for exemption reduced.Individuals residing in the USA (a green card holders) or U.S. citizens are exempt, which provides up to exclude the first $ 500,000 of income in case of sale of their principal residence. The header in person, or a legal entity (companies ') determine the difference in the type of tax to be applied and then careful consideration should be' placed at the time of purchase about this.