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M, Home Buyer in Ottawa Ontario Canada

What are the steps for a Canadian resident to purchase in FL?

Asked by M, Ottawa Ontario Canada Mon Jan 26, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2003548423--Windsor-Walk-D…

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I have a few multi family units that are for sale via short sale. This is in Port Charlotte florida. The lender will want 25% - 30% down they will also consider the income from the other units if you could get them rented out. Think about it spend the winter golfing, fishing, shopping or just having fun with your friends. Would they be willing to rent from you for 4-6 months? When you sell the property the title company will withold 10% to make sure all taxes are paid.
Kim Moore, ERA ADVANTAGE REALTY
0 votes Thank Flag Link Sun Sep 20, 2009
First, decide if cash - or mortgage. If mortgage get started right away before you start looking at homes... be aware that you will need to put a good chunk down. Be aware also that you will pay slightly higher taxes since you will not qualify as a Florida resident for "Homestead."
0 votes Thank Flag Link Mon Jan 26, 2009
Hi M, I received your email and responded there. I am waiting to hear back from Wells but like a said. Min 25% down and of course you must qualify for the loan with full documentation. Here is Cindy's email if you want to contact her direct for a lenders prospective. 'Cindy.Bedsole@floridahomefinancegroup.com'

As a Realtor, John is just about right! Just locate a Realtor that you are comfortable with and we are off, but first talk to the lender if not only just to get a price range in mind. Take Care, I will be back in touch.

Gay Middleton
Realtor/Sales Specialist
Web Reference: http://www.gaymiddleton.com
0 votes Thank Flag Link Mon Jan 26, 2009
1. Find a agent to help you were you wish to buy>
2. Tell that agent what you want.
3. Let agent send you listing
4. Best to get hold of RBC to get credit.
5. Travel to FL to see property
6. When you find it have your agent make offer with your RBC LC, Proof of funds or Pre Qual letter
7. If accepted them you are on your way.
0 votes Thank Flag Link Mon Jan 26, 2009
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