Home Buying in 33062>Question Details

Josee, Home Buyer in candiac,qc

We are canadian planning on buying a property in florida. Any specific things we should know ?

Asked by Josee, candiac,qc Mon Mar 17, 2008

Law concerning resale if profit , what happend if we die, what qualify as a homestead residence, etc...

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There are many of our Northern Canadian friends in South Florida so you will be in good company.
Let me reflect on your identified concerns:

Resale-The thing to remember about resale is if you are a foreign seller the U.S. government requires 10% of the sale price to be held back to cover taxes relative to property sale.

Homestead Exemption- to qualify you need to be a registered voter, with a Florida driver's license, and reside at your Florida address for more than 6 months of the year.

Another issue to be aware of is Short Sales and Foreclosures. There is a lot of interest in these sales currently but the reality is there are better opportunities with normal property sales of home that were purchased pre-2003, prior to the repid appreciation. Since these owners purchased their property before prices sky rocketed they can afford to sell at a much lower price. It's a matter of identifying the truly motivated sellers from this pool of owners.

Good luck
The"Eckler Team"
Century 21 Almar & Associates
Venice, Fl 34285
1 vote Thank Flag Link Mon Mar 17, 2008

Bill Eckler hit the nail on the head. South Florida has many foreign buyers and most, if not all, are all cash offers. Resale is an important consideration as you may not want to make Florida your winter escape forever. Colin raises a good point as well, check with Canadians who have purchased in the area to see what specific issues arose during their closings. As for finding a home, whether its permanent or a winter get-a-way, there are many fine Realtors in the area ready and willing to help. I suggest researching the area you want to live and finding a Realtor who specializes in that area. Before you contact a Real Estate agent consider the following:
1. What is your primary purpose for this property - vacation? investment? residence? - This will help in vetting out potential agents from your roster.
2. What do you desire and what do you absolutely need - 2 bedrooms and a garage is a must, while a deeded dock is nice to have?
3. What time frame to you intend to buy? A common thread throughout this post is that South Florida's Real Estate market is on the rise with no forecast of slowing down in the near future. If you don't intend to buy in the next 1-3 months, there is no sense in looking at property now. You may find your dream home only to discover that it has been sold after only 10 days on the market (current norm in some cities).
4. Lastly, set a budget before you begin looking. South Florida has some beautiful properties and no one wants to show you a home that is outside your budget. I, and most would agree, would hate to see you commit to a home and not leave any capital left over to enjoy the beautiful surroundings!

Should you decide to purchase in South Florida, I know you will be very happy! So many people flock to this area of the world because it really lives up to the expectations. We have beautiful beaches, tropical climate year-round, and a love for the water that is unparalleled anywhere in the world! We welcome you and I hope each of us can be of assistance in your home search. Finding the right home for our customers is our #1 priority!


Caleb J. Van Dyken
e-Pro, Realtor
0 votes Thank Flag Link Sat May 18, 2013
The market is very active in southeast florida and prices will continue to rise on what I tell my clients are "unique" properties. These properties also hold their value and appreciate in a more substantial way. What is a unique property? ... ocean view, intra-coastal view, golf course view, etc. Buying a run of the mill dry lot condo will probably be a disappointing investment.

Gary Hitchcock
Remax Professionals
0 votes Thank Flag Link Thu May 2, 2013
Buy now! Prices on the beach have been rising for 2 years and will continue as inventory in quality buildings continue to become slim.

If you plan on low balling sellers- stay in Canada
0 votes Thank Flag Link Thu May 2, 2013
If you are buying a Florida home from Canada, use a FX specialist to ensure you get the best currency exchange rate on your CAD to USD. This can save you up to 2-3% off the purchase price vs. using a Canadian bank.

Knightsbridgefx.com works with many Canadians buying Florida and Arizona Property.
0 votes Thank Flag Link Thu Jul 8, 2010
Hello Josee,

From one Canadian to another, Welcome to South East Florida and congratulations on make the decision to buy a piece of paradise. I would love ot assist you and your family in MOVING FORWARD so please call me in confidence at 561.542.4131 or e-mail me at stelios@stelsells.com. I look forward to your call.

Best Regards,

Stelios Stylianou
Marketing Specialist
Web Reference: http://www.stelsells.com
0 votes Thank Flag Link Wed Jul 9, 2008
Hi Josse,
Check my website and chose the property you like, I can send you a daily list of properties for sell in south Florida.
If any question please contact me.
0 votes Thank Flag Link Mon Jun 16, 2008
I'd suggest getting the input from other Canadians who have already been through the buying process. If you send me some contact details via the form on our website, I'll try to put you in touch with one or two of our Canadian clients.
0 votes Thank Flag Link Mon Jun 16, 2008
We are putting up for sale a beautiful home in Hollyood Florida one mile from beach . If anyone is interested please email me at sandihere00@aol.com
Also can someone recommend a good way to advertise this home in Canada. Iknow lots of canadians that like to vacation in this area.
0 votes Thank Flag Link Thu May 22, 2008
I am not a realtor, but I have my mom's home up for sale in Tamarac, FL. It is located in a Country Club Community called Woodmont. If you go to Realtors.com, type in Tamarac, FL 33321. The address is 7860 Beechfern Circle. It is a detached villa. Condo association. Just like new. Move in condition. Would be willing to sell some of the furnishings. Tamarac is about 20 minutes from the Ft Lauderdale beach. Take a look and see what you think. I'm looking for a clean deal with no contingencies.
0 votes Thank Flag Link Tue Mar 18, 2008
Yes,Please we are thinking of moving to South-Florida if you could send me some PHOTOS-&Asking price etc.,I would APPRECIATE it very much & we should be COMING to VISIT & LOOK sometime in late AUG. early SEPTEMBER send REPLY to my E-MAIL @ p.dewson@bell.net our NAMES are Daniel&Patricia Dewson!!
Flag Sat Aug 4, 2012
Please give me a call. I'd like to talk with you about an investor we have coming down from Canada.
The Schaffer Realty Group
0 votes Thank Flag Link Mon Mar 17, 2008
You have gotten some good advice. Bill has hit all the key points.
Just one other thing I would like to add is REO = bank owned homes.
If you are looking in the Disney area, drop me a line Jackie@CinderellaRealtyFl.com
0 votes Thank Flag Link Mon Mar 17, 2008
Over the past 3 months we have helped numerous canadian buyers in both FL and SC. Visit our site at http://www.marianschafferrealty.com and give us a call. There are some very good opportunities in FL, however you really need to have the flexibility and knowledge to cover the entire state. With some much on the market, you really have to be careful. So much so we are in the middle of revising all of our FL properties.
Give us a call. We would love to help you!
Marian Schaffer
The Schaffer Realty Group
0 votes Thank Flag Link Mon Mar 17, 2008
We, as realtors, are legally bound not to give legal advice--known as practicing law without a license. I would recommend you direct these questions to a Florida real estate attorney. I can offer a recommendation of a couple of real estate attorneys here who do outstanding work if you would like further information from them. Let me know if I can be of assistance to you.
Web Reference: http://www.MykeTriebold.com
0 votes Thank Flag Link Mon Mar 17, 2008
Where in florida are you looking to buy? I am located in South Florida. Are you looking to invest or to have for yourself. To homestead a property it must be your primary resdience. Now as far as resale goes you would have to pay 15% on capital gain if its an investment.
If you would to call and speak more on the subject you can call me at 954-993-4104 or visit my website at http://www.neerpat.com.
Web Reference: http://www.neerpat.com
0 votes Thank Flag Link Mon Mar 17, 2008
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