BUYING PROCESS IN FLORIDA
Buying a vacation home in Florida is a lot easier than
many people imagine. Here is a step by step guide to buying your Florida
villa.
Buy Florida Villa Step #1: Choose a Florida Villa
Development
The majority of new construction Florida villas in
Orlando are built on gated communities. These are beautifully landscaped
spaces that are quiet and relaxing. Currently, most new construction
Orlando villas are situated to the west of Orlando International
Airport.
There are clusters of new gated communities around the Kissimmee area.
Orlando villa developments can be found near Walt Disney World and south
of the main I4 Highway. Some of the newer and most prestigious gated
community developments in Orlando can be found either side of Highway 27
to the west of Walt Disney World. |
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Popular Orlando villa communities include Orange Tree, Solano Resort,
Emerald Island Resort, Magic Landings, Vizcay Florida Resort, Lighthouse
Key Resort and Crows Nest Estates. Check
http://www.1st-for-florida-property.com/1stFP/new-developments-in-florida-property.php
for the best Florida villas / developments.
Buy Florida
Villa Step #2: Choose a Florida villa type
All Florida villa communities have a selection of
Florida villa types for buyers to choose from. These include 3-bed
Florida villas and 4-bed Florida villas built on one level, and 5-bed
Florida villas and 6-bed Florida villas built over two stories.
Not all Florida villas are alike in design. Different styles of Florida
villa are available. Some of the most popular Florida villa styles
include traditionally styled single family homes, colonial style Florida
villas and Mediterranean style Florida villas.
Buy Florida Villa Step #3: Arrange Visit to Florida
Developer (optional)
1st for Florida Property can arrange for you to visit
the developer's sales office in Florida and view any show homes or
existing villas on previous phases of construction if available. Our
partners in Florida can collect you from Orlando International Airport
and provide you with accommodation and transport during your stay if
required.
Mortgage information and rental management information can be obtained
from our partner in Florida at this juncture also. Information on
furniture packages, interior décor schemes and any other options that
are available on the Florida villa should be chosen at this point too.
Buy Florida Villa Step #4: Complete Intent to Purchase Document or
Reservation Document
To secure a lot on a villa development the Florida
developer generally needs a signed 'Intent to Purchase' letter from the
buyer or a reservation document, as well as a small deposit of between
$500 and $2000. Intent to purchase / reservation forms for the developer
and an authorization form to deduct a down payment from the account of
the buyer or the credit card of the buyer can be obtained from 1st for
Florida Property.
PLEASE NOTE: Not all developers follow the same
procedure. Different forms to those quoted above may therefore be
supplied for your Florida villa purchase.
Buy Florida Villa Step #5: Sign Florida Villa Purchase Contract
Once the reservation form or intent to purchase letter
has been received by the developer, and the down payment to secure the
lot has been processed, the Florida developer will raise the purchase
contract. This is a legally binding document that sets out the
transaction between the Florida villa developer and purchaser.
Any special requests for your Florida villa should be finalized at this
point. For instance, if you require a premier furniture package to be
included with your Florida villa or wish to choose interior décor
schemes then this needs to be included in the purchase contract.
The Florida developer will require another down payment at this stage as
well. The deposit amount will be equivalent to between 10% and 20% of
the Florida villa purchase price. Most Florida developers then do not
require any further payments to be made until closing.
Buy Florida Villa Step #6: Wait for Florida villa
construction
It will take anywhere between 6 - 18 months for your
Florida villa to be built. Once built or when the Florida villa is close
to completion you will need to prepare yourself for closing. If you need
a mortgage to finance the balance of your purchase, you must arrange one
in plenty of time.
Buy Florida Villa Step #7: Closing
Closing will be on the date as given by the Florida
developer. Please insure that sufficient funds are available on the day
of closing to pay for the balance on your Florida villa.
