Foreclosures???

[ChisJo]

Is there any other Canadians that are thinking of buying foreclosure properties in the USA? With their market not fairing so well, we were thinking of buying a foreclosure in Orlando during our upcoming holiday...anyone else doing the same?

 

[michelle1]

We are really thinking about looking into buying a house in Florida. It is something we have thought about so many times but now seems like the right time. There was an article in the newspaper about a Toronto real estate agent who moved to Florida 6 years ago to work and who hasn't been that busy but is getting 2-3 calls/day now just from Canadians looking to buy. The article also stated that properties that were previously selling for $350,000 were selling for $100 000 less but also to beware of property taxes which are much higher for those who are not permanent FL residents. I would love a place to go to get away from Canadian winters!

 

[highland3]

A second warning regarding property taxes. The example I read in the media said a Florida resident might pay appr. $1300 in taxes per year on a condo. A Canadian could end up paying $13,000 on the same condo due to two-tiered property taxes.

 

[CanadianGuy]

Yeah.. definitely look at the taxation piece. I saw this on the news as well.

One guy bought and didn't know this and then got the tax bill. Woops!

Knox

 

[drag n' fly]

Too much of a headache. Between property taxes, legal bills, insurance, maintenance etc etc etc we are buying DVC in 2 days instead it meets our families needs much better.