USEFUL INFORMTION FOR INTERNATIONAL BUYERS AND SELLERS
Whether buying a second home, condominium, duplex, golf course, waterfront property or acquiring land for a custom building, Florida has it all!
Please Note: By law, all transactions are expressed in US dollars and all dimensions are measured in the US Customary System, not the Metric System..
First you should seek the guidance of a Real Estate Professional. While all Real Estate Agents are licensed by the State, only REALTORS® are Members of the National Association of REALTORS® and are trained Professionals subject to a strict code of ethics..
Normally real estate Commission Fees are paid by the Sellers of the Properties that are For Sale. An agreed upon fee arrangement can be established if you would like the REALTOR® to represent you as a Buyers Agent..
Buyer incurred costs are primarily for fees related to help insure your protection. The assistance of a REALTOR® can be especially helpful to guide you through Home Inspections, Inspection of the Appliances, Condition of the Property, Termite/Buy Inspection, County/Local Government Approval and the availability of Insurance.
It is strongly recommended that you first seek the counsel of an Attorney accustomed to serving Foreign Buyers before entering into an Offer to Purchase (some attorneys speak several languages). Your Real Estate Professional can recommend one or more Attorneys to assist you. An Attorney can also assist in preparing an Offer to Purchase and discuss the conversion of your currency to US Dollars if needed.
Once an Offer to Purchase is accepted by both parties the inspections begin to take place. Most Offers to Purchase stipulate a specific amount that the Seller agrees to pay and if any repairs are required. If the Inspections are not to your satisfaction, your Attorney can provide counsel.
Due to frequent fluctuations in the exchange rates, it is usually wise to convert the required monies as soon as possible once an Offer is accepted and all Inspections are in order.
The sale is closed on the date specified in the Offer to Purchase and may be Closed by an attorney or licensed title company. The Buyer will be instructed regarding the payment required. It is not necessary that the Buyer be present at the Closing, however the Buyer should be represented at the final walk through (inspection) of the property.
In the USA Mortgage Financing is available for short or long terms up to 30 years, at fixed or floating Interest Rates, and are all subject to the Buyer’s Credit. Larger Down Payment Deposits are usually required of Non-Resident Buyers.
Abstracted from website of PuntaGorda-Port Charlotte-North Port Association of Realtors