Once you've decided to buy a home in Florida, what happens next? Here is a detailed step by step guide to help you. Our experts will be on hand to guide you through the process when you do buy.

1) Select the subdivision, plot, model of the home, options and colors.

2) Sign the contract and provide:

· Initial deposit of up to $5000.00

· Balance of up to 10 % of total purchase must be paid within 30 days.

· For a Cash purchase: 20% should be paid within 30 days when signing contract and the remaining on closing.

· Provide photocopies of passports

3) Furniture selection to be done simultaneously when colors are selected. If it is a Spec home, we will co-ordinate the furniture to match the colors of the home or you can select yourself if you are in Florida.

This can be done over the internet with the wholesalers but we will give you more guidence over this nearer the time.

4) IF A HOUSE IS TO BE BUILT:

a) During the building of your home you will be updated to the progress of your new home.

· All purchases of homes through our company will have a proffessional maintenance manager walk the home on your behalf before closing and a full check will be made to ensure complete quality is complied with. Any problems found at this stage will be presented to the builder and rectified.

You will need to transfer all the funds from your local account into a U.S. bank account (if you do not have a US bank account our company can open one on your behalf) prior to the closing date.

If you are not attending the closing in Florida the title agent who will be handling the property transfer will send all the legal documents for you to have notarized in the UK.


b) Our management company will take full control of the connection of utilites for your new property.

c) After that, we will provide a monthly statement (30 days later) showing income and expenses.

5) IF YOU HAVE TO OBTAIN A MORTGAGE:

a) You need to complete a mortgage application within 30 days and provide documentaion, this will depend on the amount of mortgage required. i.e. 80% is a full documentation

When a mortgage of 70% or less is required then a non-verifcation mortgage can be requested.


The following is needed when the house is ready or will be ready within 30 days:

· Provide 2 years of employment history (if this is not possible, you should provide documentation to verify previous employment and earnings).

· Provide a letter from your current employer showing position, date started, 2 years of earnings, and year to date earnings. If you are self-employed, a letter from your accountant showing salary for 3 years is required.

· If employed, you need to provide P60's for the last 2 years and latest pay slips within 30 days.

· 2 years of mortgage payment history is required for your current home. If this is not available, you should provide payment history information from your previous Mortgage Company or landlord.

· A copy of a current (not older than 30 days) bank statement showing sufficient money to close on the home plus 6 month payment as reserve in the bank. If a statement is not available showing the entire closing funds, latest (and current) statements of other savings accounts are acceptable provided that the funds will be transferred into the current account and a current account statement showing the closing funds can be produced prior to closing.

· Provide copies of current passports if not already done so.

· You have to open a bank account in the U.S and deposit 6 months reserve prior to closing. If you are not present in Florida, as mentioned before, we can do this on your behalf once you have signed the Power of Attorney, have provided copies of your Passport, and have received $100 for the initial opening deposit for the account.

6) FINAL CLOSING

· Once the house is ready to close and we have the mortgage approval, we, and the builder, inform you of the closing date, giving at least 7 days notice.

· You should already have opened a U.S. bank account.

· We, or the builder, will FedEx the closing documents to you.

· You will need to arrange an appointment with a notary in whose presence the documents are signed, and ID produced. You must attend with ID (Passport preferred)

· At the same time as the signing, the closing funds need to be wired to the Title Company in Florida.

· The signed documents are sent back via FedEx to the Title Company in Florida.

· Closing is complete.

· We will send out documents relating to permits etc. for you to sign & return

We hand over the keys for you to enjoy your beautiful new home!

This process may seem a little overwhelming but with our expert assistance you will notice that it is simple and requires minimal input from you - we take care of it all!