Foreign Real Estate Buyers Focus on Florida
Canadian home buyers continue to be the strongest international segment of real estate purchasers in Southwest Florida. Approximately 80 percent of international buyers in Florida are Canadian.
Our neighbors to the north are seeing the great values in the Naples Florida real estate market. Many are looking for second homes or vacation homes that are used to get out of the cold for a few weeks, or months during the winter. Others are looking for investments they can rent out and resale for a profit a year or two down the road.
Great real estate values are the main factor spurring foreign buyers to pull the trigger on a home or condo purchase in Florida. Even Canadian investors are getting in on the action. Investors are on the prowl for “great deals” on distressed properties and banked owned foreclosures.
At White Sands Realty we work with buyers from around the world. We receive many inquiries from foreign buyers looking for property in Florida. Most are Canadians, but we do get inquiries from just about everywhere including Great Britain, Germany, France, Norway, Sweden, Ireland, China, South America and even the Caribbean.
Buying a property as a foreign (non-U.S. resident) does require a bit more preparation and due diligence. There are tax and ownership considerations that are best made through a qualified real estate attorney – used in addition to your real estate agent. A real estate attorney will assist with the legal and tax issues foreign buyers face while your real estate agent will help find the right home or property for you.
A common fear among many foreign purchasers is that they will in some way pay more for a property than a U.S. citizen. Foreign buyers do not pay more for homes than U.S. citizens. The United States has an open market that does not discriminate. If you are worried about how a seller will react to you being foreign, simply ask your Realtor not to divulge that fact until after the price negotiations are finished. Your Realtor is obligated to honor your request.
Along those lines, when you are looking for real estate in the U.S. you need someone you can trust. White Sands Realty has closed many successful transactions for foreign investors from around the world. We know the specific issues foreign buyers face and we stand by our international clients each step of the way.
We have licensed real estate attorneys to assist with issues specific to foreign buyers. They work to protect your legal interests when buying a home in the United States.
Buying a home in Florida can be a great experience for foreign buyers. For more information on how we can assist you with your real estate needs, please email us or call 239-417-1115 to speak to a Naples Realtor directly.
I have represented many international buyers already in 2012. Buyers from Canada, China, Great Britain, and Germany have all purchased property through us! It was really fun to learn and create a friendship with all the people coming from a vast difference of cultures.