Questions for Orlando Buyers
Before considering the purchase of a home, you must determine
the purpose of the home. Will it be only a holiday home? If so,
will you rent out the property when it is not being used by your
family, friends or yourself. How important is that rental income?
The payment amount of the initial deposit will vary from builder
to builder. Most will require a $5,000 at contract stage. A deposit
will enable you to write the contract, thus fixing the price and
protecting your chosen "lot" or home from a price increase. 10%
of the purchase price is required 30 days after the initial deposit,
at which time the Builder will begin construction, the balance
of the monies being due on completion.
AND RENTAL SETTING-UP CHARGES
Many are concerned about hidden extras and have heard stories
about buyers being saddled with unexpected charges for closing
costs long after it has become too late to withdraw from the purchase.
Closing costs comprise of several elements, many of which are
stamp duties payable on various documents but the biggest expense
is usually applicable to the mortgage. Some builders will make
a substantial contribution to closing costs. If a US mortgage
is not required some builders will offer a cash discount. Finally,
if the property is being managed and rented out, you will need
additional money for escrow, lodging license, fire extinguisher
and security bolts.
Questions have been raised about rental restrictions imposed within
the Disney area. Three counties have different sets of rules.
Orange County did, some time ago, bring in regulations forbidding
rentals of less than 30 days. This does not mean that a property
owner cannot rent their house; only that each rental must be for
a minimum of 30 days. However, the number of rental agreements
in any year could not be more than 12 at the most and so a property
in Orange County may not be the best place to maximize rental
Osceola County now has rental restrictions in place. However,
the position is very different from Orange County. Authorities
have created exceptions and exclusions to protect the large number
of investors who have already purchased houses in the county and
the large number who continue to do so.
Consequently and without going too deeply into what are fairly
complex provisions, many developments have effectively been excluded
from the restrictions rendering them communities from which short-term
rental activities are allowed.
Polk County and Lake County are developing relatively fast. Therefore
further investment is being encouraged.
It is essential that a prospective buyer obtain advice as to the
suitability of the property / development and the use of which
it is intended. Rental restrictions should be carefully evaluated
and understood. We will gladly provide you with advise guiding
you safely and expertly throughout your selection process.
The availability of resale Property changes daily. We will be
happy to include a tour of appropriate resale properties within
your viewing program should this be of interest to you.
Most builders will build one or more spec homes in anticipation
of a buyer wishing to buy a house that is ready to occupy. This
is a great way to see the finished product before completing the
purchase. The inventory obviously varies on a regular basis, but
we will be happy to show you the current availability.
While Florida property purchases can often be financed from one's
home country, US mortgages will frequently be more attractive
and are readily available subject to approval.
AND BUSINESS OPPORTUNITIES
We have companies listed, small and large, in all types of industry.
We provide a free confidential business analysis for businesses
and commercial properties up to 25 million dollars.