Purchasing a property in Florida is considerably different to the UK. Below is a general overview explaining the differences. It is imperative for you to obtain a knowledgeable professionals specializing in international Real Estate, who can provide a comprehensive view of the pros and cons that buying an overseas property can entail.

 A brief overview of the purchasing process differences:

    *  There are generally two agents:  a buyer’s agent and a seller’s agent, representing respective parties in the real estate transaction providing each individual fiduciary duty. Unlike in the UK where there is one agent who represents the seller.  There is no money exchanged until the contract is closed. The buyer and the seller agents work on a commission, the seller is responsible for paying this.

      *  Agents have access to a complete inventory of properties details, through a general database called MLS.(multi listing service)  This allows real estate companies to list their complete inventory for all brokers to view.  Therefore, you will not have to go multiple offices to obtain property information on individual homes as you do in the UK.  It is a one-stop shop, using one agent.  Great on time and hassle, which is valuable when your time is limited?

      *  Usually closing the deal is expeditious. Generally, a transaction will close with in thirty days, unlike three to four months in the UK.

      *  Traditionally, a title company closes the transactions, unlike in the UK where a solicitor is required for this service. You can request a real estate attorney to review the contract if you feel it is necessary, but that will be an additional fee.

    *  Once the offers been accepted, the seller will require the buyer to deposit a stated amount in an escrow account and apply for a mortgage within 5 days from the initial contract.  Most American banks require thirty percentages down of the purchase price to lend to foreign nationals.  Each bank has its lending criteria; depending on the lender, you can borrow without constriction, if you meet their lending requirements.  There is no law to limit the amount of properties owned.  Once, the requirement is complete the property is withdrawn from the open market. This establishes a legal and binding contract between both parties, unlike buying in the UK, so this eliminates gazumping.

       *  Once the property transaction is completed, the owner will be able to dispose of the property as they wish. There are property taxes assessed on the property once a year and if you have an American mortgage, the bank will require you to have property insurance. The property tax amount is determined on the mill rate value imposed by the county, assessed by the property appraiser’s office. This not assessed on the purchase price. Each county has different mill rate. If you decided to sale your property, there are tax implications, depending on the net profit and the time of ownership. It is advisable to contact a tax professional. 

Florida has many appealing attributes. The sunny weather, sandy beaches, amusement parks and outlet shopping “what more do you want”?  It is easy to see why Florida is the number one UK destination.  Over the past few years with the pounds immense strength against the dollar.Tourist activity and foreign nationals purchasing holiday homes have increased dramatically.  The two major airport are Sanford/Orlando international and Orlando intertional.  Many package holidays arrive at Sanford/Orlando as its easy access and central location is essential to travellers. After an 8-9 hour flight quick and easy access to your hotel destination is necessary.

Florida culture is has diversed as its weather.  Many civilizations have called Florida home.  The original inhabitants were the American Indians.  Until other nations like the spanish, the British decided to settle.  Now all the cultures  have blended together to create a rich and intoxicating community.     

Geography: Florida is 500 miles long and 160 miles wide at its most distant points. Florida covers 65,758 square miles, making it the 22nd largest of the 50 states. Georgia and Alabama border Florida to the north. Alabama and the Gulf of Mexico to the west, to the south and to the east, Florida is surrounded by the Atlantic Ocean.

Seasonal Climate: Florida is a tropical climate. The official nickname for Florida is “ The sunshine state”  It definitely earns the name on a daily bases.  Summer starts in earnest in June. Temperature’s ranging from mid 80’s to hign 90’s and with the temperature increasing, so in turn does the humidity. This causes thunder storms in the late afternoon, which helps to cool down this steamy enviroment.  The cool breezes in the evening, after the rain is worth the scorching heat in the daytime .  Winter’s a exceptionally lovely with average temperature in the low 70’s.  Occassionally, the temperature will drop for a few days to the 50’s, but this doesn’t last long.

Population: The estimated polulation 18,089,888 according to the census in 2006.

Capital: Tallahassee.

Language: Predominetly English.  There are areas in Florida that have a large Spanish speaking community.

General: The sun shines approximatley 350 days of the year.

1.       Everyone drives on the right side of the road

2.       The electrics is 120, a converter is recommended for all appliances.

3.       The cost of living is much lower than the UK.

4.       The medical system is complexed and for ever changing.  Insurance companies provide coverage through your employer or personal enrolement.

5.       You can receive your British pensions, by requesting it to be paid into an American account.

6.       You are allowed to stay up to 6 months on a ten year visa, unfortunately you are unable to retire to the USA  even if you have the financial freedom to do. To obtain  permante residency you have to complete a complexed processor.  For more information you can contact your local embassy. There are different investment programs available with considerable financial requirements. That gives you permanent residency status and interest on your initial investment.

7.       Easy access and affordable cruises to the Bahama’s and caribbean leave Cape Canaveral daily