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FREQUENTLY ASKED QUESTIONS
Q: Why should I invest in a Florida Vacant Lot?
A: Investing in a Florida lot is a very good bet for the following reasons:
Florida’s population in 2008 is over 18 million people and growing. Florida is currently the fourth most populated state in the U.S. and will surpass even New York by the year 2012 to become the 3rd most populated state. The U.S. Census Bureau confirms that over 80 million baby boomers will be retiring over the next 30 years and that 20% of them (16 Million) will be retiring or buying a second home in the state of Florida. Such huge numbers of population growth equates to jobs and a stronger economy in Florida. With such demand on the land, (they don’t make land anymore), prices will escalate. Florida’s coastline land is scare and expensive due to existing demand. Population growth has nowhere to go except inland where prices are currently still affordable but will eventually increase with the population. Thus, a low priced buildable lot inside of Florida is a sound investment for the future.
Q: How are such low prices made available?
A: Many properties were purchased years ago through volume acquisitions, land trusts, estate sales, foreclosures, tax sales, and real estate auctions. Because of the low cost to purchase with yesterday’s dollars, the seller is able to still generate positive cash returns even by selling lots at liquidated prices in today’s market.
Q: Are there any liens on the properties?
A: No. There are no liens on any of the lots. All outstanding taxes or association fees due will be paid at time of closing by the seller. The buyer will receive a title insurance policy to ensure clear title at time of purchase.
Q: What is the zoning of these properties?
A: All of the properties are zoned for residential use.
Q: What is the size of a standard lot?
A: Most lots are typically 80’ x 125’ or 10,000 square feet (approximately ¼ of an acre). There are some lots that are larger and will be priced higher because of their size.
Q: Can I build a home on the land?
A: Yes. You will need to obtain the proper building permits before you begin construction. You can build anytime you want. That’s if you want. There is no requirement to build at all.
Q: Are there roads leading to your properties?
A: Yes. The lots are accessible by car, with roads all the way to the property line. The very limited lots remaining that do not have roads are being steeply discounted to account for this.
Q: Who pays the property taxes on the land?
A: The buyer will be billed directly by the county tax collector for the annual property taxes, which are due by March 31 of each year. Any taxes owed will be prorated from seller to buyer at the time of closing. Any unpaid taxes from past years are fully covered within the title insurance policy issued to the buyer.
Q: How much are the closing costs?
A: There are NO CLOSING COSTS when buying one of our lots. Zero! We pay all of the fees for title insurance, transferring the property (transfer tax, recording fees, etc.). There are absolutely no hidden fees, no surprises. You pay only the listed price of the property—not one cent more. There will be no last minute surprises or we won’t require you to close on the lot.
Q: What is the minimum required down payment to purchase a property?
A: A valid contract will require a minimum deposit made to the title company of only US$500.
Q: Who do I make my deposit payment to and how do I pay it?
A: Any payments made must be made directly to the seller’s designated licensed and insured title company. Only the title company will be responsible for accepting any deposit monies. The title company can accept any of the following forms of payments; (bank wires, cashier’s check, money orders, and in the near future PayPal).
Q: Can I buy more than one property?
A: Yes, but you will need to verify that a lot still is available before submitted a signed contract and deposit. An additional discount may be offered for multiple lot purchases.
Q: How long does it take to close and when will I get the deed and title policy to my property?
A: Once the title company receives the signed contract and the deposit money, they begin processing the file. The title company will do a title search on the property and will prepare all seller and buyer documents. The title company will then email or mail the documents to both parties. After the seller and buyer have returned their signed documents to the title company then the closing can occur. The entire process to close will take between 10 to 21 days to complete. The deed is then recorded into the public records. Finally, the title company prepares the buyer’s title policy which is then mailed to the buyer along with a copy of their recorded deed. A buyer can expect to receive their title policy and recorded deed within 30 to 45 days after the closing date. earn it. |
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WHAT WE DO