Whether you are looking to purchase a vacation home for yourself or looking to make an investment in the sunshine state. We are here to help you close your real estate transactions. We are a member of the Fund and issue title insurance through Old Republic Title.
In Florida the closing process can be broken down into the following steps:
• Working with a Real Estate Agent to identify property
• Submit offer to listing Agent
• Contract Negotiations and execution of purchase & sales agreement
• Earnest money deposit is made
• Home Inspection are performed
• HOA applications are submitted if applicable
• Working with lender to meet funding obligations if applicable
• Final Walkthrough
• Closing (Signing of final sales documents, legal documents are recorded, title insurance is issued, and funding of loan occurs if applicable)
• Congratulations and handover of keys
Special considereation must be given to the Foreign Investment in Real Property Tax Act (FIRPTA) if the trasaction involves a foreign seller. Different withholding requirements usually obligate the buyer to withhold 10-15% of the purchase price and submit it directly to the IRS when the seller of U.S. real property is a foreign person.
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“Buy land, they’re not making it anymore.”
— Mark Twain
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