BREVARD COUNTY, FLORIDA FOR CANADIANS –
WHAT WE HAVE AND WHAT WE HAVE NOT
Brevard County is right there! On the Atlantic Coast of Florida, by car about an hour east of Orlando, about two and a half hours south of Jacksonville. From Toronto you could spend two and a half hours by plane or take a civilized two day drive south to get there.
Sorry, we don’t have Timbits, Harvey’s or Swiss Chalet here. No Shopsy’s either and peameal bacon is almost unheard of amongst the locals. No Air Canada Centre and no CN Tower for sure.
Oh, and we have no snow, no salty roads to mess up your shoes and hurt your doggie’s feet. And heavy traffic is very unusual here ….. except for the occasional Manatee gathering.
What we do have is 72 miles of Atlantic Ocean Beaches, another 158 miles of Indian River (Intracoastal Waterway) and Banana River shoreline defining 538.8 square miles of very accessible recreational waters (as in boating and fishing), the Kennedy Space Center, 26 golf courses open year ‘round thanks to a January daytime high average temperature of 21 degrees (71 fahrenheit for us locals). It does get down to an overnight freeze once or twice a winter but mostly it doesn’t, 10 degrees (50 fahrenheit) is the normal January low.
You know, if you walk east to the end of almost any street in Cape Canaveral or Cocoa Beach you’ll wind up on the beach! And ready to launch your boat? Brevard Parks maintains 20 paved launch sites for access to the inland waters including the Indian and Banana rivers. For Atlantic Ocean access there are two more paved ramps at Port Canaveral (which also boasts the second busiest cruise port in the US). All free, including parking for your car and trailer. The County also maintains a couple of hundred parks by the way.
We’re really accessible too! Most of Brevard is an hour or less from Orlando International Airport or Delta flies right into Melbourne International. Did I mention we’re about an hour or so east of Disney World and Sea World and Universal and, and, and all that neat stuff?
Here is the best part. We are so affordable! Property values have fallen about 60% here since 2006. Also, property taxes are very reasonable in Brevard and our utilities rates are among the lowest in the state!
Could this be the opportunity for that winter or retirement getaway you’ve always dreamed of? Or a maybe a U.S. home for your growing company?
Join Our Foreclosed Property List.
WHAT CANADIANS WANT TO KNOW ABOUT BUYING AND OWNING REAL ESTATE IN BREVARD COUNTY, FLORIDA.
Shopping for Real Estate
Shopping for real estate is like at home, internet, papers, magazines or by just driving around. Oh, the Chapman Group can be very helpful too! We can help you navigate confidently around a world of foreclosures and short sales – and regular purchases as well!
By the way, if you purchase one of the Chapman Group’s listings through the Chapman Group, we offer a significant buyer’s rebate program that could mean a check to you the buyer at closing for up to $1000.00.
Financing
Financing is available to Canadians locally, in fact the Toronto Dominion Bank and The Royal Bank of Canada are both prominent among local lenders. A loan approval, subject to underwriting, is often available within twenty four to forty eight hours. You can expect very competitive interest rates and usually at least 20% down will be required for a conventional loan. Something you might consider inquiring about are 15 and 30 year loans. With interest rates as low as they are currently these long term fixed rate loans can be very advantageous. Penalties for early pay-off are usually minimal. Consult your lender for more information.
Toronto Dominion Bank
Deanna Tripp
Vice President
1160 Rockledge Blvd.
Rockledge, Fl. 32955
T: 321-453-4655 ext. 69701
F: 321-636-6528
deanna.tripp@tdbank.com
Royal Bank of Canada
Scott Cronenberg
Senior mortgage Loan Officer
1421 Gateway Dr.
Melbourne, Fl. 32901
T: 321-953-3447
F: 321-953-3452
scott.cronenberg@rbc.com
Contingencies
Residential sale and purchase contracts in Florida become whole when the buyer and seller have agreed on price and terms and funds have been escrowed against the sale. However, the contract will usually contain contingencies that must be satisfied before closing. Most common among these are contingencies for finance and inspections, though there can be others.
Finalizing your Purchase
Closing can, but usually does not, involve an attorney. Most closings are handled by organizations called title companies, specifically tasked to the closing of real estate transactions.
Cash purchases will usually close in two to three weeks, financed purchases will take a little more than twice that, six weeks is common. The title company will examine the chain of title and issue insurance to guarantee clear and marketable title to you, the buyer. The title company will also oversee the proper conduct of all the details related to the transaction and see that that deed is properly recorded in the buyer’s favor.
Home Inspections
A thorough home inspection is as important here as it is at home and should include an insurance and wind inspection. In Florida sellers have an affirmative obligation to disclose all known defects at the time of sale, that is: they must tell you all they know about the condition of the property, however common sense and good management dictate that an inspection by a competent home inspector can be invaluable, and very helpful in learning about operating the systems in your new home. We can provide you with a selection of qualified inspectors when the time comes.
Property Management
Competent and affordable property management is available locally to keep an eye on your Florida home while you are away. Please let us know early if you may elect to rent your home out while you are absent. If so, we’ll need to check local by-laws and Homeowner’s Association regulations for compliance.
Health Insurance
Your Canadian coverage is good in the US but insufficient to cover the somewhat higher costs here south of the border. You will need to cover the gap in coverage with a Canadian insurer before making the trip south. Check out the links below for more information and costs.
http://www.travelinsurance.ca
http://www.snowbirds.org
Homeowner’s Insurance
You may have heard that Homeowner’s insurance is expensive here on the coast. True, our costs may be somewhat higher than in other parts of the country but that cost is offset for most of us by a gorgeous Atlantic Ocean and our warm temperatures. None-the-less you will find affordable coverage here through the services of a quality insurance broker who can shop several carriers to find the best cost and coverage for you.
Blue Sky Insurance
Robyn Greene
25 Stone St.
Cocoa Village, Fl. 32922
T: 321-636-8878
F: 321-696-8876
robyngreenefla@bellsouth.net
Petrucci Insurance
Jeanna Barnes
1199 S. Hwy US 1
Rockledge, Fl. 32955
T: 321-632-1200
F: 321-636-7437
jeanna@petrucciinsurance.com
Other Information
All Canadians need to cross the border is a valid passport. Check out the link below for more valuable information on buying property in the US and for answers on any visa questions you might have.
http://www.avvo.com/legal-guides/ugc/canadian-real-estate-investors
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