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.
©
Copyright 2008
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