Before starting your search for a property think about what is your ultimate goal. Are you looking for a second home to retreat to for family holidays or just for your own use. Is the home going to be rented out in the short or long term rental market to provide an income? Are you buying the home for purely investment purposes with no intention of using it yourself? Think about what kind of amenities would you require close by including theme parks, restaurants, shopping, schools, beaches etc.
Once you have reached a conclusion about the type of house, condo or town home you are looking for start looking for a licensed real estate agent to help you find the property that meets your needs. A real estate agent should assist you with your purchase every step of the way including assisting with home inspections, walkthroughs and more.
If you are making a purchase with cash make sure you have written proof of funds before viewing any homes. This will be required to be produced when placing an offer on a home or signing a contract directly with a builder. If you are using cash as a deposit and require a mortgage you will need to obtain a pre-approval from the bank or mortgage provider beforehand. Make sure any required reserves are in place and all documents are sent to the bank or mortgage provider promptly when requested.
Open a US Bank Account. This can be done at any US bank and your real estate agent can also assist you with this important step. If you find a resale property your agent will write an offer which will be signed and presented to the other party. Your agent will negotiate on your behalf and ensure the contract is explained fully and written as per the legal requirements. If you are looking to purchase a new property your agent will liaise with the sales staff to negotiate the price and terms and answer any questions or queries you may have. Your agent will assist with relevant home inspections, pest inspections and walkthroughs which will need to be performed before closing. Homeowners insurance will need to be arranged.
Ensure you adhere to any tax liabilities if your property is going to be used as an income producing property, seek the advice of a tax professional experienced with the US property market. The closing will be held at a title company or can also be done via email if you will not be present. At the closing the funds will be distributed to the necessary parties and you will receive the keys to your new home. Should you require assistance with furniture, rental and management of your new home ask you real estate agent for advice with this regard.
Article supplied by Orlando International Realty.