Purchasing a home anywhere in the continental USA, is in general terms, far less complicated than virtually any other country in the world. Florida is very much a "user friendly state" giving the buyer an extremely easy and safe approach to home ownership.
The single most important factor is to ensure that you use the services of a fully licensed Real Estate Brokerage. Classic Real Estate Ventures Inc. is fully licensed by the State of Florida and has stability, security and resources that only "Classic" can deliver.   We will oversee the complete transaction from the beginning to when your home is ready for occupation.   This includes the following:-

This is a concern shared by many prospective purchasers. The best possible assurance you can have is to ensure that you select a company that is totally independent and can therefore offer you impartial and unbiased advice on every aspect of property purchase and management.
It is essential that a company is highly knowledgeable and expert in all aspects of purchasing a property, has excellent relationships with all major developers, and can provide a professional and reliable management service with a proven track record of providing high levels of rental income.
Our Classic associates in Florida, have several decades of experience in Florida real estate, and are without doubt the leading company for sales and management of homes in Florida.

Subject to status, obtaining a mortgage in Florida is relatively straightforward. Loans of up to 90% are available for residents and non-residents, and are secured against the Florida property.
The majority of resident loans are made at 80% of the purchase price to avoid private mortgage insurance, and the majority of non-resident loans at 75% as these offers the best terms, especially for our overseas buyers.

There are several mortgage programs currently available where you can choose a fixed or variable rate mortgage. Repayment terms range from 5 to 30 years with no age restrictions.

We can ensure that you obtain the most suitable and competitively priced mortgage relative to your personal requirements.

If you intend to let your property when you are not using it, you will need to comply with local legislation. This includes obtaining a hotel/lodging license and ensuring that safety features such as commercial grade fire extinguishers, smoke detectors and emergency lighting are fitted. Wherever possible, we insure that these costs are included in the final price.

For all purchasers using a mortgage, there are closing costs to be paid. These are costs incurred when completing the purchase of a home. At the beginning of the loan process there is a fee for the credit report and appraisal, usually they are approximately $300 to $500.

As the loan completes there are other expenses to be paid, such as the mortgage set-up fee, legal costs associated with the purchase and registration of the property, title insurance, and various pre-paid items, such as 12 months household insurance and association fee.

As a guide, purchasers should allow around 4% of the total purchase price to cover all closing costs

Yes, due to the fact that Florida attracts so many families from the northern states, Canada and overseas, that spend only part of the year within its borders, there are many restrictions as to where and when short- term rentals are permitted.
For instance, the four counties that make up the majority of greater Orlando, each have different rules relating to the letting of homes on a short-term basis. On the Gulf and Atlantic coast the restrictions are extremely complicated and specific.

It is therefore essential to obtain correct professional advice and guidance as to the suitability of a particular community.

Classic will ensure that the property you select is completely free from any such restrictions and is legally zoned.

This is dependent on the type of property chosen, the location and the amount and term of the mortgage.
As a general guide, if you secure up to a 75% mortgage you will need to rent out your home for about 35 weeks per annum to break even on an average sized four-bedroom villa.

If a fairly large home is selected it only takes another two or three weeks to cover the difference in out goings.

A normal year of bookings will provide 21K-25K per year in rental income on a 4 to 5 bedroom home.

Most of the builders deliver a complete package including all the furnishings, kitchenware and linens.
Very few clients upgrade the standard furniture packages, as they are so comprehensive and attractive.

For the builders that do not handle furniture, our interior designers will be pleased to show you several examples of furniture packages that provide excellent value for money.

This is not an easy question to answer. Appointing a professional management company to manage and maintain your home in your absence is vital.
If you intend to rent out your property, it is also important to use the services of a company that will provide you with high levels of occupancy throughout the year, ensuring that you obtain the best possible returns.

We provide our owners with a comprehensive, professional and totally reliable service.

The Central Florida/Orlando area is the place where almost everyone goes during a hurricane, as it is so far from either coast. Buyers should be aware that most hurricanes will follow the coastline and rarely affect central Florida. Properties built today by a recognised American builder come with a 10 year guarantee and most homes are built to withstand hurricane damage with roofs designed to cope with winds of up to 110 mph. Builders are also insured to cover damage during the construction period with developers offering full refunds of any monies paid by the purchaser. Once completed, British buyers can also benefit from a number of different insurance policies which cover for hurricane damage, with some companies even rebuilding your property exactly as it was before the damage.

In January 2004 the US Authorities announced changes to passport rules that came into effect in October 2004.

Three changes to the immigration processes have been made to enable the US to track and identify foreign visitors:

After 26th October 2004 all passport should hold the "biometric data" (such as digital images of fingerprints, the iris etc) of the holder. Children must have their own passports from this date. Since January 5th 2004 all visitors requiring a visa have been fingerprinted and photographed on arrival.

The majority of European visitors to the US now enter under the visa waiver programme, which allows you to travel to the US without a visa as a temporary visitor for business or pleasure for up to 90 days, no extensions are allowed.
This programme is most frequently used by tourists and people in America for short-term business purposes.

Visitors with passports issued prior to 26th October 2004 will still be eligible to travel to the US on the visa waiver scheme. Exceptions to the visa waiver programme include anyone who intends to work, study or spend more than 90 days there; those who have previously been arrested (even if the arrest did not result in a criminal conviction); anyone with certain serious communicable illnesses; if you have been refused admission into or have been deported from the US; those who have previously overstayed the 90 days on the visa waiver programme; anyone with outstanding traffic offences where a warrant is out for their arrest; and most recently anyone issued a passport after 26th October 2004 that does not contain biometric data.

For a longer stay you need to apply for a B-2 visa at the American Embassy, which if granted, allows you to be admitted for a 6 month period, this can be extended in certain circumstances once you are in the States (at the present time). When making an application for a B-2 visa it is necessary to prove that you have sufficient funds to support yourself for your duration of the stay, this visa does not allow you to work. It is also necessary to prove that you have binding ties to the UK such as family, business or a property. It is possible while in the US to apply to the Immigration and Naturalisation Service (INS) for an extension to the B-2 visa, but immigrant officials will want to make sure you have not abandoned your residence in your home country. The B-2 visa is the choice of many retired people but it does not allow for permanent residence (the conditions of the B-2 visa are currently under review).

Permanent residence in the US requires an immigrant visa known as a green card. This can be obtained in a variety of ways including sponsorship by a close relative who is a US citizen. Depending upon your relationship to the US citizen and country of birth there may be numerical limits on this category. Another group who can qualify for a green card are employment-based migrants. This covers a number of groups, including priority workers, professionals holding advanced degrees and people of exceptional ability, workers whose skills are in short supply, special categories and business investors.

Two forms of visa which are very popular with people intending to move to the US and establish a business are:

The L-1 visa, this is suitable if you own a business, which is going to continue to trade whilst you are in the US. Although the American business that you are buying must be affiliated to the British company through ownership, it does not have to be the same type of business that you are operating at home.

The second form is the E-2 business investor visa, this requires a significant cash investment in a business substantial enough to support you and your family and employ US workers, and requires ongoing active management. You need to be particularly cautious when promises are made tying in visas with the purchase of a business, both in terms of the suitability of the business in satisfying the necessary criteria for the granting of a visa as well as the information given regarding the business.

Beware of any claims that guarantee a business's qualification for an E-2 visa.

Please consult the US embassy for further information. (Use this Link to the US embassy website)

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