How do I find the an estate agent in Florida?

Answer: Dealing with the proper estate agent is critical.  5% of the estate agents do 95% of the business, so there are a  lot of part time agents which can be honestly bad. We have indentified certified international property experts throughout Florida and will provide you with their contact details.

Has the market hit bottom?

Ans:  We have been in this 'down-cycle' since May 05. Typically, they last no more than 3 years.  We feel with all confidence that NOW is the time to buy.

What about the exchange Rate?

Ans: With the pound falling against the dollar recently, this is another signal to BUY!  Waiting for the market to drop another 5% means the pound could fall another 15%

What is the best location to buy?

Ans: Your agent will be able to advise you on locations but remember that regardless of coutry... its always location, location, location.

What is a Short Sale?

A short sale is when a property is being sold for less than the amount of debt owed on the property..

This can be a lengthy process of negotiations with the bank and it is no guarantee you will eventually end up with the property. However, you can snap up a real bargain this way if you are patient and good with a screwdriver and paintbrush!

What is a Foreclosure

This is when the property is owned by the lender (usually a bank). These properties have often been neglected and may have been empty for quite a while. Again the negotiations can be very lengthy, and once again no real guarantees you will end up with the property. The properties are usually the lowest price in the neighborhood as the bank will have had them appraised and then price the property to sell quickly.

I strongly advise anyone looking to buy a property in foreclosure of short sale to get expert representation. Work with an agent who has had experience in this type of negotiation and can work on your behalf.

What Property inspections do I need when I buy a house in Florida?

I recommend all inspections.

1) Termite, 2) Air Quality, 3) Radon, 4) General Home Inspection.

Remember you will inherit what you buy and when you sell it, you will have to most likely deal with any issues. Also, only use a certified and insured home inspector. A good real estate agent would have a list of recommended inspectors to call.

 Ask Broker John

Dear Broker John,

Has the Market Hit Bottom Yet?

No-one can pick the bottom or top, however, historically down cycles start to show recovery after a few years. Florida has been in a down cycle for nearly 3 years and we are now seeing early signs of recovery. There is also a lot of pent-up demand.

I feel we have hit bottom already. Pending sales have increased last month in many areas of Florida combined with a pick up in investment interest by many value buyers nationally and internationally.

I would not wait for the press to turn positive; I would negotiate my best deal now and look forward to a good long term return on investment.

Dear Broker John,

I would like to put in a low offer on a house. What is the best way to do this without insulting the seller?

Home buying and selling can be a very emotional experience for sellers and buyers. This is why you need an experienced, knowledgeable agent to help you negotiate. Sellers that are not competitively priced are prime targets for low offers. Low offers are more common in the current environment overall. A good negotiator will make a low offer as the beginning of dialogue that could result in a sale versus the seller being insulted. Remember, when you pick an agent, you are picking your representation. So knowledge and experience are more important than having a good tour guide.

Dear Broker John

How Do I avoid paying capital gains tax on the sale of my house??

One way to defer your taxes is through the use of a 1031 Exchange. IRS rules for exchanges are

1. Both and new properties must qualify as investment or businesses use.
2. You have 45 days from closing of sale to list the properties you want to buy.
3. From the sale closing date, you have 180 days to close on the purchase of one or more properties from the 45 days list.
4. The IRS mandates that you use a qualified intermediary to prepare the legal documents for your exchange.
5. You must purchase and take title to your new property exactly as you held title to your old property.
6. To defer all your capital gain tax you must buy a property equal or higher value that the one you sold.

Dear Broker John

Do I save money buying from a For Sale By owner

Usually people overpay when going directly to a FSBO and also get entangled in many legal issues in contract and disclosure laws. It costs you nothing to work with a professional realtor which can provide you the information you need for an informed decision.

Dear Broker John

How do I choose an Agent in the USA when I am in the UK?

Choosing the right person to represent you is critical. Working with one professional who understands the market and know how to structure deals and negotiate can save you thousands of pounds. Nationwide 5% of the real estate agents do 95% of the business.

Ask if the agents firm is a member of the Better business bureau and ask if the agent has any complaints lodged against them.

Your best choice would be a British agent who understands both markets UK and USA.

Here are some guidelines when researching a Real Estate Agents credentials:

Has a Brokers License.

Certified International Property specialist.

Member of the National Association of Estate Agents

More More Frequently Asked Questions, please email me at

britishnaples@hotmail.com