Frequently Asked Questions


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Q: How easy is it to purchase a home in Florida?

A: 

Purchasing a home in Florida is less complicated than you think. The most important factor is to ensure that you use the service of a fully licensed real estate broker. The Florida office is fully licensed by the State of Florida and will oversee the complete procedure, from the minute that you set foot in Orlando to when you complete your property and beyond. This would include showing you properties suitable to your personal requirements, dealing with the legal aspects of purchasing, looking over construction, taking photographs liaison with the mortgage broker, doing the pre-closing walk through, arranging delivery of furnishings, connection of all services and finally arranging the final occupation licenses.

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Q: If I purchase a property in Florida, how many weeks do I need to rent out my home to cover all the running costs?

A:

This will of course depend on the type of property, location and amount of mortgage. As a general guide, if you take up a mortgage you will need to rent your home approximately 38-40 weeks per annum to break even.

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Q: Can I get a mortgage in Florida?

A:

Yes, obtaining a mortgage in Florida is possible and quite straightforward. Loans of up to 70% are available for non-residents and are secured against the Florida property. There are fixed variable rate mortgages to choose from with repayment terms varying from 5 – 30 years and there are no age restrictions. We will be only pleased to help you look into the financial side of purchasing, getting you the personal information you require.

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Q: What are the closing costs and how much are they?

A:

These are costs incurred when completing the purchase of the home. They comprise of a mortgage set- up fee along with the legal costs and registration of the property, which will total approximately 4.5% of the sales price, when taking a U.S. mortgage. If a mortgage is not required the closing will total approximately be 2%.

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Q: How will I know the properties I view are the best for my personal requirements? How can I be sure that any decision I make is in my best interest?

A:

Working with The Dudley Elite Team, we will have built up a portfolio of your personal requirements, knowing exactly what sort of property you need and what you want from your property. Being independent from any builder, we can show you any properties that are suitable to you without being impartial or unbiased. Having a full team in Florensuresures we have the most up to date information and whichever country you are in there is always someone at hand to help or advice you.

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Q: Are there rental restrictions in Orlando, if so what are they?

A:

Yes, there are restrictions as to where and when short-term rentals are permitted. The four counties that make up the majorities of the Orlando area each have different rules relating to the letting of vacation homes. It is therefore essential to obtain correct professional advice and guidance as to the suitability of particular property and location.

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Q: What deposit would I need to reserve a property?

A:

In most cases a $5,000.00 payment will be sufficient to reserve a property. This furthermore, would hold the lot and fix the price of the property.

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Q: Are there any hidden costs that I should be aware of?

A:

Yes, there are if you intend to rent your property. You will need to comply with local legislation. This includes obtaining a hotel/motel lodging license and ensuring that safety features, such as fire extinguishers and smoke detectors are fitted.

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Q: Do you need to open an American bank account in Florida?

A:

If you choose to purchase a property, it is usually necessary to open a bank account. We will take you to a very reputable bank and assist you in opening your own account. You will need usually $100.00 to open an account.

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Q: How do I know which management company to choose?

A:

This is a very important part of owning a property in Florida, if not the most important. Choosing a professional management company to manage, oversee and maintain your home in your absence is vital. If you intend to have rentals in your home it is very important to use the services of a company that keep your property in top condition for your guests and for you. Maintaining your home in top condition insures the best occupancy rate and repeat vacationers. Your tenants will want to return year after year to enjoy a blissful vacation in private villa with all the amenities.

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Q: To what standard should I furnish my home?

A:

When purchasing in Florida a lot of sites will offer a furniture pack normally of a good standard, these would be economic, standard or deluxe. We would advise a standard package allowing you to put extra knick’ knacks in, to make your home personal and a place to return to. It is not necessary to spend a fortune as furniture and accessories are in-expensive in Florida. Our interior designer would be pleased to show you examples of furniture packages which are excellent value for money.

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Q: What are the tax implications of owning a property in Florida?

A:

This is dependent on both individual circumstances and whether it is intended to let the property. We will be pleased to discuss the implications with you during your visit to Florida and can provide advice on the best methods of making your investment tax efficient.

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Q: Am I covered by insurance in the event of damage to my property?

A:

Insurance in Florida is inexpensive and a standard policy will cover you for most eventualities. If you are renting your home, the management company should make provisions to obtain a security deposit from each group of guests on their arrival to cover all accidental breakages.

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Q: Are there any restrictions as to the time I can spend in Florida?

A:

You are legally allowed to spend up to six (6) months in any one year in the USA on a B2 Visa. It must be pointed out that if you are considering the possibility of retiring permanently to the USA, it is unlikely that you be granted necessary residential visa and independent advice should there be sought prior to making any commitments. We would be glad to discuss your requirements and have expert immigration professionals available during your stay.

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Q: If I would like to book an inspection trip with your company, what would it involve in time and notices give?

A:

We normally arrange an I.T for you to visit Orlando with just a few days’ notice and we would suggest the minimum of 4 days to view property, see mortgage advisors and top open a U.S bank account. However, at certain times of the year, particularly Christmas, Easter, and all school holidays, flights and accommodations are in often in great demand and it can more difficult to arrange.

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Q: I have flights & car hires; can you arrange accommodations for us for our I.T.?

A:

Yes, we would be delighted to arrange a nice villa for you. We have a wide range of accommodation in private 5 of 6 villas with private pools.