Second Homes and Investment Properties

Steps to buying real estate property in Florida

A person interested in making the purchase of any kind of real estate in the United States needs to give serious consideration to engaging the assistance of a qualified and licensed Florida real estate broker specializing in investment, residential, commercial, or vacation property within the U.S. This agent or agency will be representing the purchaser's best interest.

Most US lenders will extend mortgage to foreigners interested in purchasing real estate (provided that they are credit-worthy). Minimum down payment are roughly 25% to 40% of loan amount. Getting a lending commitment in advance is not necessary but will put you in a better position to more efficiently and effectively procure real property in the least amount of time.

Once a particular piece of property has been chosen for purchase, a written offer is submitted. When the offer is accepted, it becomes a contract.

A closing date is established. Generally, a closing date is set approximately 30 to 40 days from the signing of the contract. The closing date is the date on which all of the duties and obligations under the contract need to be satisfied. This includes the obligation of the seller to make certain that the title to the real estate is "clean" and all repairs have been done. It also includes the obligation of the buyer to make certain that his or her financing is in order. Closing costs are approximately 2% to 3% of purchase price.

Throughout the contract to closing process, several tasks, documents, and commitments will be needed from both the buyers and the sellers. Buyers, for example, will need to arrange for inspection of the property, secure a title insurance, and get a home owner's insurance policy. All these can be handled by our qualified Tampa4U agent and will be explained in detail as they are needed. In addition, Tampa4U have a real estate lawyer licensed in Florida who is always available for help and advice.

By employing our services, we make the real estate buying process as easy and worry free for you as much as possible. We will do ALL the worrying so YOU don't have to.