Buying a property in Florida is governed by the laws of the State of Florida , which is different from our legislation .
The rules for buying and selling real estate in Florida are simple trade takes place exclusively through state- accredited real estate brokers for participation and no local notary (Title Copany ) .
Citizens of the Czech Republic can buy property in the USA directly to private ownership .
Florida - reality - the rules for their purchase :
Client during inspections choice in a property that meets its criteria . Seller and buyer sign the Treaty of intent , in which the seller agrees to sell and the buyer to buy a property under the conditions specified in the contract .
In signing the Treaty, the buyer pays a deposit is usually equal to 1 % of the purchase price to the account "title compamy ." and that becomes part of the final expenditure , which the buyer must pay the transfer of ownership .
Buyer pays usually 7-10 days next installment , which is around 5 % of the purchase price . Between the signing of the Treaty of intent and the very close of business ( ownership transfer ) usually takes 30-45 days. During that period it is possible to thoroughly inspect the property , do the inspection reality , geodetic survey to insurance ( the transfer of ownership must have secured a buyer for the property insurance may pay in advance or during the transfer of real estate) .
"Title Company " checks whether the property is not burdened with outstanding debts , whether the seller is the true owner of that reality , etc.
The buyer may or may not use services of a lawyer of their choice or according to our recommendations , which will provide legal advice and supervise the progress of the transaction. In some cases, the very law firm can work title company .
Title company is a company that is actually a neutral party to the transaction . It protects the rights of both parties ( seller and buyer) purchase contract (the closing ) usually takes place in the office of the company. Title company among other things, prepare Form HUD -1 ( closing statement) , which is the final bill contains a list of all the charges , which the seller and the buyer pays . In addition to closing the HUD- 1 signed transfer of ownership and any documents required for mortgage . Title company will send a courier with proof of transfer of ownership to the municipal office where you register all public documents . There is a transfer of registered ownership and subsequently kupujícící get the original document ( in the closing of getting a copy ), which is stamped by the council and is marked off exactly where the book on which side of the document is filed. Public documents can be viewed via the Internet. Title company is part of every transaction. This rule is not only a reality for Florida in its territory but for the entire USA .
The property can be purchased as either " first home " (where the owner lives most of the year , it is his residence) , " second home " or as an investment. For a second home and investment and mortgage insurance is a little more expensive .
Buyer pays inspection before closing in reality if applying for a mortgage and the bank appraiser a fee for mortgage application . Bank estimate - necessary for the bank, the height of the mortgage exceeds the value of the property . Bank estimate for the buyer pays the bank back and it is ordered at the expert companies.
Insurance - must be paid either ahead or when closing the case all year , depending on the value area of the property , also the year when the property was built , its size, etc.
Inspection of the property - the orders and pays the buyer (not mandatory , but highly recommended) . Must be performed by a professional inspector who holds a license from the State in which the inspection is conducted . There are different types, sometimes a buyer can only check the roof of a property that does not have problems with termites. Typically, the buyer ordered a complete inspection , subject to the inspection of building structures, windows , doors , installations, equipment and appliances reality of their functionality. The inspector writes a report on the inspection , which writes and how much it would cost repairs. When this sum is higher than stated in the contract the buyer , so the buyer can cancel the contract or to discuss the changing conditions ( such as price reduction or seller pay the repair part or repair, etc. ) . Buyer specified in the contract sum for repairs that are willing to cover, and continue the contract. For example 1.000 USD . This means that if the estimated repairs will be more , the buyer need not continue the contract , of course there is a certain time limit in which you need to decide and let you know the seller.
Geodesic Survey - remeasured the land , the surveyor marks the property line small orange flags. The survey can determine if the neighbors happen to have a fence built on the site of the real estate , etc. The survey also exposes the " flood elevation Certifikate " - a document in which it is written , how high above sea level is a driveway , garage , living area of the house . on the basis of this document, the buyer can buy insurance against flood.
Are you interested in foreign real estate in Florida? We will arrange the purchase of real estate in the Naples , Ft. Myers , Cape Coral, Miami and surrounding areas. Call us or fill in the inquiry form.
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