Florida Home Buying Tip for UK InvestorsTerry Riffe | October 7, 2015
Here are importanat home buying tips for UK Investors. While the US and the UK are similar in many ways, if you are from the UK and plan on purchasing investment property in the US, there are differences you need to be aware of. The following are some of the differences and how to work your way through them…
In the UK, Buyers are normally on their own and ‘Estate Agents’ represent the Seller’s interests. The Buyer is responsible for finding the property they want and then coordinating experts to represent them through the purchasing process. This can often become a very lengthy, drawn out process.
In the US, Buyers and Sellers are represented by ‘Real Estate Agents’ equally. The Seller will have a licensed REALTOR® working for them and the Buyer will also choose a licensed REALTOR® working with and representing them through the process. In the US, REALTORS® take a much more collaborative approach. This is a very valuable service for the Buyer, especially one that is conducting business from overseas.
Tip: Choose your REALTOR® wisely. For an overseas (UK) Buyer, the local expertise and guidance of a Buyer’s Agent is especially valuable. It would be nearly impossible for someone new to a culture, it’s business practices and legal requirements to fully understand the risks they may be taking and any recourse in a potentially expensive and complicated transaction.
When choosing your Buyer’s Agent, be sure to use a licensed REALTOR®, one who lives close to the area you plan to buy in. Your Real Estate Agent will be able to show you all of the listed properties that fit your criteria. Their knowledge of the area and the process is invaluable.
If you are interested in investing in the Orlando/Disney Real Estate market and would like more information, email me An@OrlandoVacationRealty.com or give me a call 1 (407) 800-0888. I look forward to hearing from you.