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| BUYING A VACATION HOME?
The Disney World Area is the Number 1 tourist destination in the World and many
people return time and time again. With an ideal climate and so much to do it is
not hard to see why.
Owning your very own vacation home makes this experience even more enjoyable and
can also be financially rewarding.
There are many factors to consider when purchasing a property whether it is a
brand new property direct from a builder or a re-sale property.
Our Company has over 60 years of experience in Buying and Selling Real Estate in
the local area, our Realtors are licensed and are qualified to write contracts
for properties being bought or sold.
We offer a simple 'start to finish' package:
Step 1 - By discussing through in detail your specific requirements, your
thoughts and your ideas, we compile a criteria list in preparation of our next
step our 'property search'. We couple this information with our qualified and
professional advice, we further assist you in setting up a US Bank
account,qualifying you for a mortgage if required, and we could introduce you to
an accountant if necessary.
Step 2 - We have access to all the properties that are available for sale
in Florida so working with our list, we pull up as many homes that meet the
criteria for you to view. When we find the right home, we write a contract and
make an offer.
Step 3 - If a new property was purchased, we would oversee the various
stages of the build. We would also do the final walk through before closing.
If the property is an investment property and rentals are a requirement, we
would also offer you a complete property management and rental program to suit
you.
We Offer:
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Professional and Independent Advise
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Personal Service
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Oversee Construction Process (if new home)
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Management and Rental Program
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Quality Furniture Packages
Owning a vacation holiday home just minutes from the worlds number one tourist
destination can be an exciting asset!
Why stay in a cramped hotel or condo when you and your family could enjoy the
luxury of your own spacious pool home?
Visit Florida as often as you like... then let others help pay for your property
when you're back home!
The rental of your home will eliminate or at least substantially reduce the cost
of ownership!
Buying a second home can be grueling, time consuming, frustrating and could
prove an expensive exercise.
Buying a property possibly thousands of miles away can seem like an
insurmountable hurdle that must be plagued with problems and pitfalls. Yet, as
with any financial investment, qualified professional advice and guidance can
alleviate most if not all the worries, ensuring that the entire buying
experience is a pleasurable one.
We believe that buying a property in Florida, with expert guidance, should be
considerably simpler than buying one in most other parts of the globe, and it is
our objective to assist you in reaching your goal with the minimum of concern,
worry, and of course expense.
Here we address common questions a new home buyer may have. We make ourselves
available to assist you, should you have any additional questions.
Before considering the purchase of a home, one must determine the purpose of the
home? Will it be only be a holiday home? If so, will one rent out the property
when it is not being used by your family, friends and yourself. How important is
that rental income?
When choosing a primary residence, the logistics of the property location is
important in relation to the owner's place of work. However, a holiday home
generating income will not need to be close to offices. The whole of Florida
provides a wealth of income property locations to the holiday home owner or
investor.
When rental income is important however, the correct location of the property is
crucial, and rental income will be maximized when the property is located within
a 15 minute drive of Walt Disney World. Outside this area, and even marginally
outside, rental demand will fall off very quickly and very substantially.
It is essential that a prospective buyer obtains independent advice as to the
suitability of the property/development they are considering, and for the use to
which it is intended to be put. With such advice the problem of rental
restrictions should be carefully evaluated and understood. We will gladly guide
you safely and expertly throughout your process.
The amount and required submission of payment of the initial deposit will vary
from builder to builder. Most will require a nominal $1,000 at contract stage
(up to typically $5,000). This will enable a contract to be written, thus fixing
the price and protecting your chosen 'lot', pending your return home to arrange
any balance required, payable prior to construction.
A US 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. This need take no longer than an hour and an initial deposit
of $100 should be adequate to open the account.
Closing costs comprise of several elements, many of which are stamps duties
payable on various documents, but the biggest expense is usually applicable to
the mortgage. This alone can amount to 6-7% of the loan amount, and will be
clarified further once the most appropriate source of finance has been
determined.
The vast majority of builders in Kissimmee make a substantial contribution to
such costs. When a US mortgage is not required, then many builders will offer a
cash discount, typically 2%. Since the buyer will have to make some contribution
to the closing costs; around $1,500 will normally cover these along with changes
such as a credit check fee, appraisal charge, etc. Sometimes it is necessary to
pre-pay 1 month mortgage repayment, insurance, and property tax, which on a
$110,000 purchase with 75% mortgage might require a further $1,500,
approximately, with utility deposit of around $375.
Property tax generally amounts to approximately 1.5% of the property's value and
is payable either annually in advance or, more commonly, monthly along with any
mortgage payment.
The availability of second hand properties changes on a daily basis. 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's will not generally be
on the market long, and while there is always a possibility that a 'bargain' may
become available just as you are ready to buy, a true bargain in a prime
location can be difficult to find. Hence the importance of ensuring that what
you choose to buy is indeed in a 'prime' sought after location. This is crucial
if the property's resale's value is to be optimized. There could well be a good
reason why a particular resale is 'cheap'.
Most builders will build one or more properties in anticipation of a buyer
wishing to buy a house that doesn't need to be built but already exists. While
clients will therefore not have the opportunity to choose the specification /
color scheme they might favor, some may like the idea of being able to see the
finished product before they buy it and, also of being able to complete their
purchase just as soon as any finance formalities have been arranged. The
inventory obviously varies on a regular basis, but we will be happy to show you
the current availability.
While you may like to furnish and equip your home yourself, this can be somewhat
time-consuming and most buyers opt for one of our "furniture and house wares"
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
own furniture packs will completely furnish and equip your property to an
attractive, yet hard-wearing standard. Everything from a color TV, washing
machine, fridge, etc. down to lamps and toilet rolls are included. More
expensive packs are available and most items can be customized or upgraded to
suit your tastes and your pocket. We offer an interior design service and will
be happy to arrange a suitable appointment.
While Florida property purchases can often be financed from one's own home
country perhaps, using a main residence or secondary property as security, U.S.
mortgages will frequently be more attractive and are readily available subject
to status. Advances of 70% of the cost (house, lot and pool) are relatively
simple to obtain, 75% are not normally a problem although much detailed
financial information will be required, while 80% advances are certainly
possible in many cases. With access to a vast number of different mortgage
companies, we will be happy to recommend the most appropriate mortgage source
for your circumstances.
On new constructed homes we would carry out the 'walk through' just prior to
closing. This avoids the necessity of your returning to Florida to 'close' the
purchase if you don't want to.
We would further ensure that the house is completed, the color schemes are as
ordered and all the extras if any are installed. Then we can advise you that the
closing can take place.
We would also arrange for all services (water, electricity, gas, etc.) to be
turned on and for all deposits to be paid on your behalf (provided that these
funds have been established in an account).
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.
Ensure that your property is ready and is continually ready to receive either
you or your guest.
Please call 407-518-9311 for all your property sales, vacation rentals and
management.
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