Royal LePage Signature Realty Florida Buying Guide

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1 Royal LePage Signature Realty Florida Buying Guide

2 Since first breaking ground in Coral Springs, Florida over 60 years ago, WCI has built its business on the foundation of creating exceptional lifestyles that make dreams come true. A major part of that objective is simplifying the homebuying process, and to that end, Royal LePage Signature Realty and WCI Communities offers a fully integrated portfolio of real estate and residential services. We save homebuyers and residents time by offering consistent and exceptional service across a variety of disciplines, easily satisfying needs with a single and efficient source. Purchasing a home in the United States is quite similar to purchasing a home in Canada. However, there are some differences of which you should be aware. One major difference is that homes in the United States are priced as a fixed price, rather than offers from. WCI is committed to making your international homebuying experience seamless by offering the unique quality of having one contact point available for all your needs, including explanation of pricing or other questions you may have.

3 1 2 Steps to Buying a Florida Home From Canada Step One: Finding the home of your dreams Unlike many developers who are restricted to a single location or home style, WCI offers tremendous variety. Whether the goal is a luxury penthouse overlooking the beach, a breathtaking estate home on a championship golf course or a quaint villa that is exterior maintenancefree, WCI is committed to fulfilling your dream. WCI s Community Representatives or your Royal LePage Signature International Real Estate Agent are available to you for a complete needs analysis to arrive at a decision. Step Two: Securing Financing Two options are available to you once you decide on your dream home. You may either pay n secured funds or seek financing. Florida Finance Group offers progressive mortgage services for international buyers outlined for you in this guide. Other US financial institutions provide another consideration. Financing opportunities range from fixed-rate, adjustable rate and non-assumable mortgages, and all may be researched equally to find one that suits our needs. Florida Home Finance Group, is your Florida Mortgage Expert. The agents offer the ability to present a full range of personalized loan programs to meet your specific needs. Florida Home Finance Group provides fast approvals and quick closings. With limited documentation, the WCI finance team can quickly and easily process your loan. In fact, service is so efficient they can even close your loan in quickly. The goal at Florida Home Finance Group is to make the financing of your home a pleasant and efficient experience. Below are some of the highlights of our international program available to you: Maximum Loan-to-Value: 75%, stated verified assets; 70%, stated/ stated assets Maximum Debt-to-Income: 33/45% Verification of Assets: Open a U.S. bank account for electronic withdrawals Visa Requirements: Valid passport only Stated Income: Stated income/stated assets or stated/verified assets Mortgage Products: 1- or 3-year ARM or 30-year fixed mortgage Trusts, LLC or Partnerships: Accepted Self-Employed Acceptable: Yes

4 3 4 5 Step Three: Signing the contract Working with your Royal LePage agent and WCI, you agree on a purchase price and once the offer is accepted, you will then provide a deposit. The typical home deposit is a percentage of the price of the home, which must be paid upfront in cash. (certified check or wire transfer) Step Four: Securing a title company WCI Title, our in-house title insurance company or any Florida title company manages the complete closing process and beyond with personal attention and special programs designed to help homebuyers, including mail-away closings and filing your deed with the local property office. Step Five: Home insurance The next step is to secure insurance. Homeowner s insurance and flood insurance (where required) are the most important. Search for the best policy at the best rate to satisfy your needs. We can help with referrals Step Six: Closing on your home Closing on your home can be a stress-free experience as long as all your documents are in order. The Title company will stay in constant contact with you throughout your buying process to ensure that this is the case. At closing, transfer taxes must be paid and other claims must also be settled, including closing costs, legal fees and adjustments. Estimates will be provided prior to any firm commitments on your part if you request such. It is at this time that the title is transferred from the developer to the buyer and all documents are signed and filed with the local property appraiser. Step Seven: Enjoying your new lifestyle Upon finalizing a home purchase, residents are immediately eligible to apply for membership at their respective community s club (subject to availability). WCI membership directors provide a wealth of information and conduct tours of each amenity. Step Eight: Wrapping up your stay in the U.S. With locations statewide, WCI offers a staff of estate agent professionals specializing in the rental of residences so you may get the most use of your home.

5 Since most lenders require title insurance, WCI Title has teamed with Florida Home Finance Group for consistent, careful service in every aspect of title insurance. The professionals at WCI Title closely guide purchasers through the closing process and beyond with personal, individualized attention. For further information, visit Below is a timeline to help you understand the closing process with WCI Title. Four to six months prior to closing (if you re building new) You will receive a Closing Information Form, where you will input your contact information and whether you will be paying by certified funds or funding through a mortgage company. Also, you will provide whether you will be present for your closing, signing over a Power of Attorney to sign for you or mailing in your closing documents. Two months prior to closing In order to ensure a smooth closing process, WCI Title will check in with you periodically to make sure there have been no changes to your situation. They will also contact your lender to confirm that all documents are in order. One month prior to closing Your WCI Title representative will contact your Royal LePage Signature agent to verify information. At this time your insurance certificates will be ordered, if applicable, HUD documents completed and Closing Statement sent out to you. This Closing Statement will address the information necessary so you will know what to expect at closing monies due at closing, closing appointment, etc. It is at this point that a notary should be lined up if you will not be present at closing. All certified funds and wire transfers should be ready to go at this time. Closing day and beyond Once all funds have been cleared and documents signed, WCI Title will file your deed with the appropriate property offices. You will receive your keys, warranty information and homeowner orientation items. Shortly after closing, you will receive your homeowner assessments and tax information.

6 Royal LePage Signature Realty has more than 430 agents. They offer residential and commercial services as well as property management, corporate relocation and referral services. For further information contact: Royal LePage Signature WCI Preferred Guest INSPECTION VISIT Experience the fantastic lifestyle offered in our WCI communities as our residents do. Enjoy one of our Preferred Guest accommodations, then if you wish, play golf on one of our numerous courses, sample our recreational opportunities and see for yourself the wondrous selection of homes, villas and condominiums. You ll want to get away to one of our communities forever!

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