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Buying a home in America

3 Ways to Buy

Resale

If you are looking for exceptional value on a Florida property that is already constructed, then you might want to consider purchasing a resale property. Pool homes that are just 10 to 12 years old and located in some of the best short term rental communities, are still selling for just a fraction of what they were sold for only a few years ago, and significantly less than the cost to rebuild the same property as new today. These properties are usually 4-5 bedroom single-family homes with swimming pools that range between $200k – $220k dollars and are located very close to Disney itself. These properties historically sold for over $350k dollars and with the large demand for this kind of property overseas buyers want, the current prices are heading in only one direction. Buying a similar type of property in a new development usually costs approximately $75k-$100k dollars more plus the time you have to wait till its built which can be 6-9 months.

Our resale portfolio consists of only the best properties that have been sourced from bank foreclosures and other distressed acquisition strategies.

IHG work with several large Asset Management Companies (AMC) who source suitable properties in bulk, refurbish the property to a like new standard, and then sells the properties on to end users and investors. Because these properties are purchased in bulk and construction costs are managed across a large portfolio, these properties are brought to market at significant discounts to historical prices and most will have instant equity from day 1.

Beautifully Refurbished

The refurbishment process is extensive top to bottom, and includes new paint inside and out, new carpet, installation of Granite counter tops in the kitchen and bathrooms, stainless steel appliances, and many, many other upgrades. The refurbishment of these properties is designed to impress both you as the homeowner, and any tenants should you decide to rent the property when you are not using it. The properties are inspected before and after the refurbishment is completed to ensure the quality of work is to a high standard, and all building codes are adhered to.

Fast, Simple Process

As Resale properties are already built, the whole transaction will be completed, with you taking full freehold ownership, within 20 to 30 days. The designated title company will hold all funds in a state regulated escrow account until closing (or settlement) takes place. IHG will only allow our clients to convey properties be way of a Special Warranty Deed, meaning that the title company must provide title insurance to the buyer, protecting our clients from any title issues in the future. Our main objective is always the safety of client’s investments.

Affordable Mortgages

Should you wish to obtain a mortgage, we work with one of the largest providers of mortgages for foreign buyers here in Florida. They can offer up to 70% financing over 30 years with fixed interest rates of approximately 4.62% per annum subject to you qualifying for the mortgage. This means that for as little as $60k (£39k) down, you can purchase one of these beautiful resale single-family pool homes.

Excellent Return on Investment Potential

Once you have taken ownership of your resale pool home, you can either decide to keep it for the exclusive use of your friends and family, rent it out on a short term basis when you are not using it, or rent it out on a long term basis of up to 12 months or more. If you do decide to rent out your property on either a Short or Long Term basis, IHG has long standing relationships with the best management companies in the business. Based on current similar style homes, the management company we recommend has told us these homes rent for typically 40% plus of a 365-day year and for well over $100 dollars per night. The advantage of renting your holiday home property out during the various rental seasons is the ability to use that income to contribute pay costs/overheads on maintaining the property yearly or to assist towards any mortgage you may have on the property.

Benefits of Resale Properties in Florida:

  • Built and ready for you to take ownership
  • Beautifully refurbished with many high end upgrades
  • Available at up to 60% below previous sold/market values
  • Closing takes place within 20 to 30 days of contract being signed
  • All funds are held with Title Company in a state regulated escrow account
  • Convey only on a Special Warranty Deed to ensure maximum protection for the buyer
  • Available for personal use as a holiday home and for both Short Term and Long Term rental

 

New Build

New build properties, or newly constructed homes, offer the disconcerting buyer the opportunity to be the owner of a property which incorporates all the latest advances in construction technologies and green building practices. With the ability to choose which floor plan best suits your needs, the choice of which materials and upgrades the builder uses, and even the choice of which plot you want your dream home built on, buying a New Build property really is the ultimate approach for those who want to add their own design ideas to their vacation/second home.

New Build properties can cost anywhere from $120k for a small condo property,  $150k dollars for a desirable modern 3 bedroom town-home, TO $300k dollars plus for a typical 4 or 5 bedroom single family pool home. Compared to buying a typical 10 year old resale is usually a good $75k-$100k more price wise. But for some buyers, that cost is more than acceptable for the opportunity to own a brand new, custom property. New Build properties can also take up to 9 month to be built, but with your money going into a state regulated escrow account with a title company, and your funds only drawn down once specific construction hurdles have been meant, you can buy your New Build property with confidence. The typical payment terms in a new development are a $5k reservation deposit upon reserving a property, 30/40% down payment when signing a contract 30 days later and the balance upon completion of your new property. IHG works with the biggest mortgage provider for foreign clients who will lend up to 70% towards the purchase of a new off plan property.

Why choose IHG?

With over 14 years experience in the Florida market, the principals of IHG only work with largest and most reputable builders, providing our clients with added security. We have taken the decision to only work with builders that made it through, and continued to build and deliver properties, during the financial crisis of 2007 and 2008. Not only do these builders have a proven track record of good management and financial health, they now also have the distinct advantage of having acquired many premium development sites that others were forced to sell over the last number of years. So whether your are considering a property with Lennar, Pulte Homes, DR Horton, or Park Square Homes, KB Homes; IHG will be able to show you the best available projects that meet your investment or personal criteria.

With so many exciting projects available, IHG can help you find your new off plan dream home, whether it is on the golf course, close to Florida’s world renowned beaches, or conveniently located to Disney and all the other Orlando attractions.

Summary of New Build Properties:

  • You have the ability to customize and upgrade a new build property
  • You pay more vs. already built property to buy a new build property
  • Can take up to 9 months to complete the build process
  • Your money goes to a state regulated escrow account
  • Only deal with builders that have an established track record

 

Investment

Everyone has read the news and seen the TV programs about the 2008 financial crisis, its affect on US housing market, and opportunity that now exists for investors in a position to pay cash for properties that the average American now rent.  Many overseas investors wonder if what they have read and seen is real, and how can they take advantage of this once in a generation opportunity. The short answer is yes, and with IHG.

Excellent Investment Opportunity

Since 2008, millions of American’s have moved from being homeowners to permanent long-term renters. With this demographic shift firmly in place for decades to come, you are now able to purchase properties that everyday Americans rent, at under 50% of their historical long-term value. With such a large rental pool of prospective tenants, gross rental yields have risen to an all time high of between 12% to 14% gross per annum. While these are not properties that you would ever consider personally residing in, or may not take holidays in, the in deniable fact is that the returns on this type of investment property, both from a rental yield and capital appreciation perspective are currently some of the best in the world.

IHG work with several of the largest Asset Management Companies who acquire large parcels of investment properties from Banks, foreclosure auctions, and even the courthouse steps. These companies then do all the work to remove Liens, back taxes, and all other title issues. This process enables all of our clients to purchase investment properties via a special warranty deed, further allowing you to obtain title insurance (the ultimate protection when purchasing property in the USA).

Completely Refurbished

Once all the title issues have been resolved, the Asset Management Companies then begins the extensive refurbishment process. The customary refurbishment includes, new paint (inside and out), new flooring, granite or upgraded counter tops in the kitchen and bathroom, new appliances packages, new central heating/cooling systems, upgraded electrical and plumbing, and finally a beautiful landscaping package. The refurbishment is designed to not only impress the buyer/investor, but also the tenant who is going to pay rent for years to come.

Turnkey, Worry-free

Upon completion of the refurbishment, the property is then handed over to the property management company for tenant placement. With multiple tenant application being received on each available property, the most important function that the property management company plays, is selecting the right tenant. To accomplish this objective, the credit, criminal, and employment history of all prospective tenants is carefully analyzed, with only the very best tenants being approved for tenancy! Once a tenant is placed in the property, the property is then released to the market with clean title as a fully turnkey investment property.

Impressive Yield Potential

With our proven recommended property management team in place,  (who understand and focus on the needs of overseas investors), our investors never have to deal with late night emergency calls, worrying about collecting rent, or having anything to with their investment property for that matter. They simply sit back and see the 12% to 14% gross yield get deposited to their accounts each month.  Even after paying property management fees, local taxes and other minor typical expenses to maintain the property yearly, the net returns are usually between 8%-9% per annum in the investor’s pocket.  These properties are usually 3-4 bedroom homes priced at anywhere from $90k – $150k dollars. The majority of investors who buy these from IHG have amassed on average a portfolio of 4-5 homes giving them these solid returns per annum.

Buy with Confidence

92% of clients who purchase these homes do so without even travelling to America to view them or see them and buy direct with the knowledge and confidence that the properties give them the yearly returns the majority of investors cant get from a bank or indeed the stock market.

Summary of Investment Properties:

  • 12% to 14% gross rental returns
  • Available at under 50% below long-term historical value
  • Cash Transactions only and close in 20 to 30 days
  • Clean Title  – Always via Special Warranty Deed with Title insurance
  • Fully Refurbished to industry best standard
  • Tenants already fully screened and in place from day 1
  • All funds are held with Title Company in a state regulated escrow account until Property is ready to be closed and signed for

Business Trips

IHG offers to prospective property buyers the opportunity to take one of our tailor designed Business Trips to Florida. There is no better way to view and purchase property than taking one of these Business Trips. IHG takes care of the whole process for you whereby we book and subsidize the cost of the flights, pay for you to stay in a 4* hotel for usually a 4 day period.  One of our licensed Realtors will pick you up from the airport in a comfortable air-conditioned company vehicle, then take you to your hotel and the following morning, the business begins. Our marketing staff will have liaised with you well in advance of the trip over which properties suit your criteria top to bottom, then put together a portfolio of properties which you will then spend the period of your inspection trip viewing.  You will meet title companies, mortgage brokers, property management companies and be given a complete picture as to how the property market works out here in Florida. These business trips are the best way to help you make an informative decision about if buying a property in Florida is for you and something that works for you financially.  There is no obligation to purchase whilst on an inspection trip and of course, the evenings are your own to enjoy the local restaurants and attractions Florida has to offer.

Some clients we have worked with in the past have said prior to booking a Business Trip with us, they tried to go out on their own steam and view properties and find out more about the property market here in Florida, but ended up not knowing where to go, who to see, how to get the right advice and felt they over complicated the process. The purpose of an Inspection trip with IHG, is to give you 100% top to bottom all the information required to help you make a simple choice about buying a property. Our Licensed Realtors have lived and worked in Florida for many years and that experience regularly leads to our clients enjoying the Inspection trip, the process itself and most importantly ends with them buying a property for themselves and making the right contacts with many different 3rd party companies who are an important part of the purchasing process when buying here in Florida.

IHG books Inspection trips from all over the world with the majority of clients leaving their home country on a Wednesday and departing back home on a Sunday, however its important to know we can also book on other days of the week and for shorter periods of time if necessary. Some clients have bought early on in the trip and then spent the last couple of days playing golf, shopping or visiting theme parks.

Alternatively, should you already be coming to Florida on a longer holiday and wish to make an appointment to go out with one of our realtors; then we are always happy to meet with you and show you what we have to offer.