|
 The
Buying Process in Florida - Your questions answered
Here we address common questions a new home buyer may have. We make
ourselves available to assist you, should you have any additional
questions.
YOUR FIRST DECISION
Before considering the purchase of a home, you must determine the
purpose of the home. Will it be only a holiday home? If so, will
you rent out the property when it is not being used by your family,
friends or yourself. How important is that rental income?
RENTAL RESTRICTION
Questions have been raised about rental restrictions imposed within
the Disney area. Three counties have different sets of rules. Orange
County did, some time ago, bring in regulations forbidding rentals
of less than 30 days. This does not mean that a property owner cannot
rent their house; only that each rental must be for a minimum of
30 days. However, the number of rental agreements in any year could
not be more than 12 at the most and so a property in Orange County
may not be the best place to maximize rental income.
Osceola County now has rental restrictions in place. However, the
position is very different from Orange County. Authorities have
created exceptions and exclusions to protect the large number of
investors who have already purchased houses in the county and the
large number who continue to do so.
Consequently and without going too deeply into what are fairly complex
provisions, many developments have effectively been excluded from
the restrictions rendering them communities from which short-term
rental activities are allowed.
Polk County and Lake County are developing relatively fast. Therefore
further investment is being encouraged.
It is essential that a prospective buyer obtain advice as to the
suitability of the property / development and the use of which it
is intended. Rental restrictions should be carefully evaluated and
understood. We will gladly provide you with advise guiding you safely
and expertly throughout your selection process.
DEPOSITS
The payment amount of the initial deposit will vary from builder
to builder. Most will require a $5,000 at contract stage. A deposit
will enable you to write the contract, thus fixing the price and
protecting your chosen "lot" or home from a price increase. 10%
of the purchase price is required 30 days after the initial deposit,
at which time the Builder will begin construction, the balance of
the monies being due on completion.
BANK ACCOUNT
A U.S. Bank Account is desirable to facilitate the transfer of funds.
We will be happy to introduce you to one of the major banks and
assist you in opening a suitable account. An initial deposit of
$50 should be adequate to open your account.
CLOSING AND RENTAL SETTING-UP CHARGES
Many are concerned about hidden extras and have heard stories about
buyers being saddled with unexpected charges for closing costs long
after it has become too late to withdraw from the purchase. Closing
costs comprise of several elements, many of which are stamp duties
payable on various documents but the biggest expense is usually
applicable to the mortgage. Some builders will make a substantial
contribution to closing costs. If a US mortgage is not required
some builders will offer a cash discount. Finally, if the property
is being managed and rented out, you will need additional money
for escrow, lodging license, fire extinguisher and security bolts.
US VISAS
If you are an investor seeking to run a business in the United States,
you will need to obtain the appropriate visa to do so. We will briefly
explain these to you and we can arrange a meeting with our Immigration
Attorney at your convenience to discuss all options in more detail.
RESALE
The availability of resale Property changes daily. We will be happy
to include a tour of appropriate resale properties within your viewing
program should this be of interest to you. Good resale Property
will not generally be on the market long, and while there is always
a possibility that a "bargain" may become available, a true bargain
in a prime location can be difficult to find. The importance of
buying in a "prime" sought after location is crucial if the property's
resale value is to be optimized. There could well be a good reason
why a particular resale is "cheap".
SPEC HOMES
Most builders will build one or more spec homes in anticipation
of a buyer wishing to buy a house that is ready to occupy. This
is a great way to see the finished product before completing the
purchase. The inventory obviously varies on a regular basis, but
we will be happy to show you the current availability.
FURNITURE PACKS
While you may like to furnish and equip your home yourself, this
can be somewhat time-consuming and expensive. Most buyers opt for
one of our "furniture and house ware" packages. We do not consider
it necessary or indeed advisable to spend excessive sums on furniture,
but equally we believe it could be false economy to buy furniture
of inferior quality which may not stand up to the rigors of a rental
property. Our furniture pack will equip your property with attractive,
yet hard-wearing furnishings. Everything from a color TV, washing
machine, fridge, lamps, ashtrays and toilet rolls are included.
More expensive pack are available and most items can be customized
or upgraded to suit your taste and budget. We also offer a free
interior design service and will be happy to arrange a suitable
time for you to meet with our interior designer.
FINANCIAL MORTGAGE INFORMATION
While Florida property purchases can often be financed from one's
home country, US mortgages will frequently be more attractive and
are readily available subject to approval. Advances of 75% of the
cost (house, lot and pool) are relatively simple to obtain, 80%
are not normally a problem although much more detailed financial
information will be required. We will be happy to introduce you
to various mortgage brokers with whom we are associated.
AFTER SALES SERVICE
We will:
1. Be available to answer all your questions and queries regarding
mortgages, closing dates, rental, etc...
2. Send you photographs on a monthly basis to show you the progress
of the construction of your property.
3. Carry out the "walk through" just prior to closing. This avoids
the necessity of you having to returning to Florida to "close" the
purchase. We will ensure that the house is completed, the color
schemes are as ordered and all extras are installed.
4. Arrange for deposits to be paid on your behalf (provided that
these funds have been established in an account) for all utility
services
5. Co-ordinate the delivery of your furniture package and ensure
that all items are in working order and that all packaging is removed
from your home
6. Ensure that your property is continually ready to receive either
your guests or yourselves.
COMMERCIAL AND BUSINESS OPPORTUNITIES
We have companies listed, small and large, in all types of industry.
We provide a free confidential business analysis for businesses
and commercial properties up to 25 million dollars.
COUNTIES FOR SHORT TERM RENTAL
Lake County: City of Clermont It’s a land of gently rolling hills
and a thousand of glimmering lakes. It’s Florida’s true natural
beauty. It’s small, friendly towns where southern hospitality rules
the day. It’s a perfect getaway. It’s only a short drive from all
the dazzling magic of Orlando. It’s a million miles from all the
hassles. It’s lot of great things to do for all ages. It’s family
fun where vacation dollars go further. It’s lake county the country
side of Orlando.
Polk County: Cities of Davenport and Haines Small towns and neighbors
of Disney World, placed just off the beaten path. Situated along
US Highway 27, Davenport has remained largely unchanged by the impact
of world-size tourism just to the north. The rolling hills of the
Lake Wales Ridge, stretching south for about 100 miles from this
point in northeast Polk, provide an idyllic setting for the town
of Davenport.
The rapid expansion of the Disney complex just to the north, coupled
with thousands of vacant acres of land formerly used for citrus
production, have drawn dozens of new subdivisions and Golf Courses
to the area all the way to Haines City.
Osceola County: City of Kissimmee City leaders, wanting to continue
Kissimmee’s prosperous history, encouraged growth through the attraction
of retirees into the area during the 1950’s. This effort stimulated
growth of almost 60%. The next period of growth came in the 1970’s
with the opening of Walt Disney World resort area and other tourist
attractions. Since Walt Disney World’s debut in 1971, the population
doubled from 7,500 to 15,000 in 1980. For the year 2000 an estimated
47,814 occupies 18.64 square miles of Kissimmee.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FREE
1 Year marketing package with the purchase of any NEW home
|
|
|
 |
 |
|
