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Welcome to the Fairhomes Land Investor Information website. Please read the information carefully before using this site. By continuing on this site you acknowledge that you have read and agreed to the following: Forward Looking Statements – Statements prepared by Fairhomes Land and made on the Fairhomes Land Investor Information website that are not historical facts are forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. For the purpose of establishing the Seller’s compliance with Federal Interstate Land Sale Full Disclosure Act 15 USC 1701 (“ILSA”) in the sale of lots to buyers, the enquirer confirms that they are a builder, investor or developer licensed to do business in the state of Florida and is engaged in a bona fide land sale business and is purchasing the property for the sole purpose of either constructing a residential home or selling the same in the normal course of its business. The enquirer further represents and warrants to the Seller that the enquirer is in the above referenced business sale of land sales and/or building residential homes and selling the same as an activity of continuity, regularity and permanency. The enquirer is a knowledgeable and sophisticated investor, developer or builder of real estate properties.
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Getting to grips with USA real estate

30th Aug, 2012back

Getting to grips with USA real estate


For first-time investors in property in America, understanding what some of the USA real estate terms mean can be important in order to avoid making costly mistakes when buying investment property.


Real estate appraisals


During a USA real estate appraisal, the appraiser will conduct research on the property including the number of bedrooms, baths, the year it was built, square footage and plot size.  Data will also be gathered from comparable real estate that has recently been sold.  The subject property will be inspected and a similar exterior inspection will be carried out on a comparable property.


Photographs will be taken of the street and the front and rear of the property.  The interior will be inspected and any faults which could detract from its value will be noted.  The appraiser will also consider reports from the Multiple Listing Service which will help determine the amenities and condition of the comparable property.  The appraiser will then provide an estimate of the property’s value.


US mortgages


There are five different types of mortgages; 30-year fixed rate, one-year-adjustable rate or ARM, hybrid, interest only and payment option loans.  The 30-year fixed length mortgages are common, but fixed 20-year and 15-year mortgages are also available.  The repayments will be higher, but equity build-up will be quicker.  ARM mortgages are where the interest rate is adjusted each year.  These generally have payment caps so that repayments do not go too high.  Check for annual as well as life-of-loan caps on the interest rate.  Hybrid loans incorporate features of fixed and adjustable rate loans. On interest-only loans, the purchaser only pays the interest for the first five years and the interest and original loan is paid off in the next 25 years.  Payment option loans offer a choice of two or three payments to be made each month and can be quite complex.  Most US banks will require a down payment of 20 per cent.


International mortgages are loans from international banks to real estate investors who want to buy property in the US, can be made in a number of currencies, and are only available for investment properties.


Investors should consult a mortgage broker to pre-qualify for a mortgage before looking for an investment property to enhance their credibility with agents and sellers and speed up the purchase process.


Off-plan financing


In the US, off-plan developments often offer investors instalment plans over fixed periods.  Charges vary and they are usually index linked.  These can be quite competitive and are worth considering as an alternative to a mortgage.


Bridging loans


Many investors take out a loan based on the value of a property that is in the process of being sold or is on the market, so that they do not miss the opportunity.  Investors should consult an experienced mortgage advisor and dealing with a worldwide company is advantageous.


Equity release


Older investors who own their own homes may be able to get a regular income or cash lump sum based on the value of their existing property via an equity release scheme.




Costs vary, but typically allow between three to five per cent of the property cost.  Costs associated with loan applications are paid in advance.  Costs paid at closing are down payment, fees for setting up loans, inspection fees, title insurance, stamp duty and mortgage insurance.