Owning a home overseas is a dream come true for a lucky few, but how does one take care of that investment when 4,600 miles separate one from the day-to-day business of running a Florida villa?
Property Management Companies
This is where a Property Management company comes in. In Florida, perhaps more than any other state or country, there are hundreds of property management companies of all sizes. In order to choose the right company, one must first decide what is needed of your property manager.
Buying the Perfect Vacation Home
Before rushing to purchase a vacation home, buyer's need to take several factors into consideration. First, what is your motivation? Most second-home buyer's want a vacation spot, an investment property, a retirement home, or some combination of all three. Before you identify sites/locations, you need to figure out your vision and consider whether a second home is a realistic fit for your lifestyle.
Foreign Currency Exchange
As a homeowner you may need to exchange and transfer regular sums of money to/from the USA. Users of Florida Homes and Travel who open a Trading Facility will have Moneycorp's £15 fee waived for all transactions they complete with them.
New owners of Florida Vacation Homes, especially overseas owners, often have difficulty establishing what license, tax and other regulations they have to abide by, and whether changes are needed to a will to avoid complications later.
UK & US Wills
UK owners often ask us if they need to make any changes to their UK will to make it valid in Florida. We do not pretend to be attornies, but as we understand it unless you are legally a Florida resident, the answer is technically no, you don't have to have a Florida will, but there are still complications and significant probate expenses if you own property in Florida.
Generally the purpose of the Building Survey or Home Inspection is to allow a Qualified Building Professional to examine the property in detail and to identify any risk to be incurred financially or structurally by the purchaser or lenders. The basis of the findings and subsequent report will determine if the sale will be re-negotiated or succeed with conditions. If a Survey of Home Inspection is not carried out the buyer assumes all risk.