Most buyers I work with in Gateway are moving from another state or another country. You can do almost the whole process remotely. Here's what to plan for.
See homes without flying in
I do live video tours of homes, models and homesites, and I can walk the neighborhood, drive the commute and check what's around a lot for you. Many clients only fly in once, to confirm the home they've already chosen, or not at all until closing.
Sign and close remotely
Contracts can be signed electronically, and Florida allows remote online notarization, so closings can often be done from anywhere. Your title company will confirm what works for your situation.
Financing
- U.S. buyers from other states: conventional, FHA and VA loans work the same as anywhere. Compare the builder's lender with an outside lender.
- Foreign buyers: foreign national loans exist and often require a larger down payment. Some lenders also offer loans with an ITIN (Individual Taxpayer Identification Number). Many international buyers pay cash.
Florida homestead exemption
If the home will be your permanent residence, Florida's homestead exemption can reduce the taxable value by up to $50,000 and caps yearly increases in the assessed value. Second homes and investment properties don't qualify. You apply with the Lee County Property Appraiser.
Rules for buyers from certain countries
A 2023 Florida law (SB 264) limits property purchases near military installations and certain critical infrastructure by people domiciled in some countries, including Cuba, Venezuela and China. It doesn't apply to U.S. citizens or lawful permanent residents. Buyers sign an affidavit at closing. If this might apply to you, talk to a Florida real estate attorney before signing a contract.
When you sell later
If you're a foreign person for U.S. tax purposes, the buyer generally must withhold part of the sale price under FIRPTA when you sell. Plan with a tax advisor from the start.
Hurricanes and insurance
New homes are built to the current Florida Building Code, which includes wind standards. Still, check the flood zone and get insurance quotes before you sign. In Florida, insurance is a real part of the monthly cost.