The Canadian Resource for Buying Holiday and Investment Property on the Florida Gulf Coast
Get started here with Jelena Pogorelova, Sutton Group Admiral — your local connection to exploring Florida real estate and successfully purchasing the perfect holiday property.
The real estate market in Florida is in a huge buyers time. One of the greatest challenges is how Canadians can find the deals, investments and new projects whether on the water or inland. I am here to assist and guide you to the right decisions when purchasing your Florida destination.
Steps to Buying a Florida Home From Canada
Step One:Finding the home of your dreams Unlike many developers who are restricted to a single location or home style. Whether the goal is a luxury penthouse overlooking the beach, a breathtaking estate home on a championship golf course or a quaint villa that is exterior maintenancefree, I am committed to fulfilling your dream. I am available to you for a complete needs analysis to arrive at a decision.
Step Two:Securing Financing Two options are available to you once you decide on your dream home. You may either pay n secured funds or seek financing. Finance Groups offer progressive mortgage services for international buyers outlined for you in this guide. Other US financial institutions provide another consideration. Financing opportunities range from fixed-rate, adjustable rate and non-assumable mortgages, and all may be researched equally to find one that suits our needs. The agents offer the ability to present a full range of personalized loan programs to meet your specific needs. An agent can provide fast approvals and quick closings, with limited documentation. In fact, service is so efficient they can even close your loan in quickly. My goal is to make the process as simple and a pleasant and efficient experience. Below are some of the highlights of our international program available to you: • Maximum Loan-to-Value: 75%, stated verified assets; 70%, stated/ stated assets • Maximum Debt-to-Income: 33/45% • Verification of Assets: Open a U.S. bank account for electronic withdrawals • Visa Requirements: Valid passport only • Stated Income: Stated income/stated assets or stated/verified assets • Mortgage Products: 1- or 3-year ARM or 30-year fixed mortgage • Trusts, LLC or Partnerships: Accepted • Self-Employed Acceptable: Yes 2 1
Step Three:Signing the contract Working with your agent, you agree on a purchase price and once the offer is accepted, you will then provide a deposit. The typical home deposit is a percentage of the price of the home, which must be paid upfront in cash. (certified check or wire transfer)
Step Four:Securing a title company our in-house title insurance company or any Florida title company manages the complete closing process and beyond with personal attention and special programs designed to help homebuyers, including mail-away closings and filing your deed with the local property office.
Step Five:Home insurance The next step is to secure insurance. Homeowner’s insurance and flood insurance (where required) are the most important. Search for the best policy at the best rate to satisfy your needs. We can help with referrals.
Step Six:Closing on your home Closing on your home can be a stress-free experience as long as all your documents are in order. The Title company will stay in constant contact with you throughout your buying process to ensure that this is the case. At closing, transfer taxes must be paid and other claims must also be settled, including closing costs, legal fees and adjustments. Estimates will be provided prior to any firm commitments on your part if you request such. It is at this time that the title is transferred from the developer to the buyer and all documents are signed and filed with the local property appraiser.
Step Seven:Enjoying your new lifestyle Upon finalizing a home purchase, residents are immediately eligible to apply for membership at their respective community’s club (subject to availability). I can provide a wealth of information and conduct tours of each amenity.