When you’ve found your new Florida home a deposit of around 10% is normally required on the signing of the sales contract. The deposit amount on a new property will normally be set by the construction company itself.

Most of the paperwork surrounding the Florida property purchase itself is dealt with by a title company. The title of the property will be checked on behalf of both buyer and the lender and once satisfied the Florida Mortgage Company or bank financing the loan will release funds directly to the title company ready for completion. An independent third party Notary is required to oversee the purchase documentation before the sale is finalised.

Legal Costs
Solicitors are not always used for the property transaction in Florida, more commonly title companies are used for the legalities and these cost around $300. A Lawyer could typically cost around $700 and if you feel happier using one.

Estate Agent’s Fees
As with the UK there are no fees for buyers but consequently there is no obligation on the part of the seller (realtor) to disclose full property details. Many buyers hire an agent to act on your behalf when selecting suitable property and negotiating the purchase price. Payment methods to the agent can vary but normally involves a cut of the sellers commission. If you sell your property your agent will charge around 6 percent of the selling price.

Property Tax
There are no taxes to be paid on the sale or purchase of a property in Florida (Feb 2005). A closing cost however will be payable if you use a mortgage to buy your Florida home. Council Tax is payable to the county your property is located in and is assessed annually based on the property value. This could be around $2000 for a property worth $150,000.

If you've already found a property or need to start things moving quickly, you can download our pre-qualification form now, sign and fax it back to us, and we'll take care of the rest!