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Orlando Property When buying Orlando property in Florida all too often major pitfalls are glossed over with superficial advice or superlatives which lead to confusion and unnecessary expense for British buyers. Some Estate Agents fail to mention the exclusive developments they are recommending in Orlando, which pay higher rates of commission that clearly could affect the impartiality of the advice being offered. An Orlando property investment on a development monopolised by other investors should carry a healthwarning. For example, investing in a property development in Orlando that is filled with fellow Brits owning properties with 80% mortgages and requiring 40 weeks of rental income is not a healthy investment, particularly when there are serious concerns regarding a potential bubble market. When buying Orlando property, think beyond theme parks, Disney, Universal, and guaranteed rental schemes. It is so easy to be hypnotised by glossy brochures or lavish promises made at exhibitions, but none of this helps if rental income falls far below expectations when you are paying the mortgage and rentals don’t match the promises. Be very careful if the Company you are looking at is also operating a Management Company. There can be certain aspects of such an arrangement which can warrant close scrutiny. If you are considering buying a property in Orlando, this Internet guide to buying a property in Florida is a useful research site before looking for or buying properties for sale in Orlando, Kissimmee and Davenport Florida. Click here for more information on buying property in Orlando or elsewhere in Florida. To find out more information about the ins and outs of buying Orlando property, contact Andrew Bartlett, a Certified International Property Specialist and Independent Florida property adviser. Will Property prices keep rising - click here Buying a property or emigrating to Florida can be a lifetime dream. This consumer site is intended to ensure it does not become an expensive nightmare. Whether it is in Sarasota, Venice, Naples, Boca Raton, Orlando, and Miami or indeed elsewhere in Florida there is no doubt a great value home in an ideal location can offer a superb lifestyle. All that outdoor living, barbeques, golf, sailing, fishing, tennis and shopping. If you feel exhausted already there is always relaxing under the sun, or dining al fresco as sunset! Plus the right property can be a sound investment. The range of properties available can seem overwhelming and cover all areas and price ranges. However all the lavish promises, claims, hype and sugar coating can cloud the fundamental point, am I getting the best value for money in the area best suited to my requirements. All to often the answer is sadly no. A key reason why so many Brits are short changed in Florida boils down to lack of preparation, information and accepting what is in effect sales spiel at face value. Many Brits invest between $200,000 and $600,000 on buying a holiday home, or indeed their life savings when emigrating. Decisions need to be based on the best impartial information available, not the size of the agents/developers commission cheque or depending on the information available in various guides, which in some cases is out of date.   So what are the key points that need consideration prior to emigrating or buying or selling a property in Florida? Are you buying? A Second home as a seasonal holiday or retirement escape. Many potential buyers are steered towards houses which are supposed to be ideal in terms of rental income; all too often this is often not the case and sales people grossly over exaggerate the rental figures, offer unenforceable guaranteed rental programmes or hide the guaranteed rentals in the cost paid for the house! If you are planning to use the house yourself for several weeks or even months of the year, key considerations are going to be what the area itself is really like to live in, what are the surrounding amenities like and how friendly are the locals. If you buy on a community based entirely around rental properties there can be significant problems, such as having ever changing, or sometimes no neighbours for weeks on end. You may find very few local people live in the area and therefore who keeps an eye on your house when you are away. If you are planning to retire to Florida details of in-depth consultations on the implications can be found by clicking here Further information on retiring to Florida can be found by clicking here   For Investment The merits of Orlando against The Gulf Coast for example will depend on whether you are looking at medium or long term capital growth, how important rental income is in the equation and how much time you want to devote on managing the property – The risks and rewards are frequently not spelt out because a property or development is being pushed, due to higher commission payments at the expense of the overall picture.  A lemming mentality of congregating on specific developments aimed at a particular market for example attracting British renters has significant implications, these need to be rationally explained, not glossed over with award winning brochures and clever sales talk!  If you are considering investing on a property in Florida details of in-depth consultations on the implications can be found by clicking here Further information on property trends in Florida can be found by clicking here   Are you emigrating? There are loads of issues to consider, such as which visa is most appropriate for you, how to locate a suitable business (some fail – some grow beyond all expectations) where is one of the best schools for academically gifted children in America located, which is a good school district, what are the practicalities of making the move, where are the British communities, what you may not expect when you move over? What will your children expect when they start school? Why there are unexpected consequences when you register for a doctor or dentist. Again the agents we recommend have helped to relocate hundreds of families and not only understand the challenges but can put new immigrants in touch with other families who have made the move, crossed the pain barrier and enjoying life in their new homes.   If you are planning to relocate to Florida details of in-depth consultations on the implications can be found by clicking here Further information on relocating to Florida can be found by clicking here   Why are you selling? Thinking about selling your house in Florida - is now the right time?   Recent reports from media sources, economists and property experts indicate property prices in Florida are stabilising and in certain locations the top of the market may have been reached. If you are buying, now may be the time to discover that bargain in some areas as the market shifts from sellers to a buyers market - but what if you are selling?   If you are thinking of selling your property the question is what is the outlook for 2006, particularly in relation to locations popular with Brits? The first area under the spotlight is Greater Orlando, where a number of Brits are taking advantage of the price gains over the past year or two and deciding to sell before others place their property on the market.   The number of visitors renting property needs to constantly increase in order to fill the ever growing number of rental properties in Orlando/Kissimmee, some owners have discovered that guaranteed rentals, management costs and services etc do not match the picture painted when they bought. In some circumstances if you need to sell in the next two years it might be better to do so sooner rather than later, particularly if the dollar starts to weaken again, in others circumstances this may be a costly mistake.   The system of selling property is very different in Florida from the UK and this is the time that you may be caught out by the type and size of commissions as well as various legal implications. If you are planning to sell your property in Florida and would like details of our in-depth consultations on the implications please click here   Which Location? Although this should be the main consideration it is so often forgotten when focusing on the house, how can you obtain independent information comparing say Orlando, Sarasota, Naples and Miami. Many companies that advertise properties in Britain through magazines or at exhibitions highlight specific developments; in all too many cases these are the very developments paying the highest commission rates which from your viewpoint may be a disaster. If you seek the advice of a local Real estate agent in Florida due to the local system of commission payments they are likely to champion their own local patch, after all that’s where they earn their commission. Buyer Beware? Buying from the UK   Some of the glossiest most awe inspiring brochures available in Britain focus on a relatively small number of developments - why? – What are the commission rates? Is the developer selling above the rate for comparable properties?   Exhibition stand size and rhetoric are not a guarantee of the suitability of what you are being offered – if you have the time click here for my findings when I recently visited an overseas property exhibition in the UK.   There are loads of seminars now available on buying overseas properties, some are based on motivating you to buy their products, and sometimes they point you towards their preferred areas or developments, many focus on selling you a particular property than giving you the overall picture. As part of my research for a particular overseas article I attended some well publicized seminars – frankly I have rarely heard such twaddle in my life, even if the music played before the presentations was truly inspirational!   Finding a suitable qualified licensed Agent in Florida   The service of a licensed Real Estate Agent is predominantly very local; their expertise is generally limited to a specific area so many are unable and often unwilling to provide a wider picture.  A lot of training for these agents is focused on selling techniques and many Brits have commented they feel pressurised.   So how do you track down a Florida licensed, experienced real estate agent with the right range of skills to serve your needs. Florida has over 100,000 agents of varying experience, skill and specialization, for many the job is part time work. The vast majority are self employed under the umbrella of well known companies like Remax, Century 21, and Coldwell Banker, many are franchises. Finding an experienced agent who understands, for example, the implications of the differences between the Florida and British property systems, uses an Attorney rather than a title company, deals with facts rather than hype, specializes in British buyers, can draw on experience, provides references is easier said than done, despite all the lavish promises.   If you require an experienced, knowledgeable local agent   We have identified a number of agents that have excellent  reputations meet all these requirements have a great understanding of the specific needs of overseas and out of state buyers, and have relocated and/or found properties for  hundreds of British buyers  and have excellent testimonials that can be checked.   A final point to be wary of is the implication of using what is known as a one stop shop. This can seem convenient but consider the implications - Lets say a company in Orlando sells you a new property say 5% commission (paid by the developer) – arranges the mortgage say 2% commission (Paid by you) - arranges management company services – a set monthly fee – takes commission from any bookings they arrange say 15 % - just think how much motivation there to sell you that house! Does that motivation influence the sales people?   The Agents we recommend can recommend alternative options for all the above services, so all your eggs are not in one basket.   ·         Management companies ·         banking arrangements to open an account ·         Shop round re insurance companies   We also recommend the mortgage brokers endorsed by the Florida Association of British Businesses, who not only understand the differences between British and American mortgages but can offer several mortgage alternatives from different banks.     If you require further in-depth information & to be as fully briefed as possible prior to emigrating or buying/selling property in Florida:-   Thinking about buying a property in Florida - click here   Thinking about selling a property in Florida - click here   Thinking about emigrating to Florida - click here   Thinking about retirement to Florida - click here     Just want to be sent details of suitable agents with excellent testimonials and a proven track record of working with British buyers – click here   Just want details of every available property in Florida – click here Andrew Bartlett an acknowledged expert on property trends and relocation in Florida, writes articles and answers readers’ questions for several British publications including Florida Magazine, Escape Magazine, Place in the Sun, Sunday Times, America, and The Red guide to buying Property in America and is regularly consulted by journalists and broadcasters. His consumer web guides have received numerous accolades.   Andrew was a Senior Government Official for 20 years before relocating to Florida several years ago where he was headhunted to set up specialist British property and relocation teams for Coldwell Banker and Remax - America’s largest estate agents. He then established a uniquely impartial and independent relocation and property briefing company working between Britain and Florida. He has written a number of watchdog style articles warning Brits planning to buy property in Florida or considering emigration about misleading and dangerous selling practices.