Completing a Purchase in Florida

When buying resale property in Florida the balance of the purchase price (less the $5-6,000 deposit) is paid on completion, which is typically between 6 to 8 weeks later.

When buying an Off Plan property in Florida, 10-15% of the completion price will need to be paid within 30 days of the offer being accepted. The remainder is paid when the key is handed over, typically 10 months later.

Transaction Costs will include lawyers and notary fees and taxes and this will be over and above the property price quoted. As a general rule of thumb you should allow for costs of $10,000.

Rental and Maintenance

Our partner agent in the Orlando area has an office that specifically manages the rental of properties. The properties are rented out through well known UK tour operators including Thomas Cook and British Airways, as well as to US citizens.

As the rental agent they will ensure the rental payments are made into your account and also that all bills such as water, TV, telephone, gas, gardening, security, pool maintenance and cleaning costs are offset against this rental income.

They will organise everything that is required to look after your property for you.

Furnishing your home

When buying a resale property the furniture is almost always included. This is also the case for off-plan properties that are nearing completion.

Off Plan properties do not normally include furniture packages as part of the purchase price. Our Orlando real estate partners, however, can provide you with a furniture package that is tailored to suit the needs of your property. For example, a four bedroom house can be fully furnished for $25,000.

Insurance

Remember that when you visit your property you will require insurance for the time that you are there. Travel insurance is very easy to organise for short ‘holiday’ periods. This can often be organised on an annual basis if you intend to visit the property several times during the year. Insurance is more difficult if you intend to stay at the property for more than 3 months at any given time.

We strongly recommend that you ensure that you have adequate insurance. Unlike the UK there is no National Health Service to cover you and costs for medical treatment can be extremely high.

Car Rental and Fuel

Car rental is easy to organise in Florida and fuel is very cheap, currently at around $1.70 per gallon. You can fill up the average car with fuel for less than $20!

Mobile Phones

It is now possible to use UK mobile phones in the US. Most houses have landlines and the cost of international calls is falling.