Florida’s residents don’t need to stress about blizzards like people who live farther north. However, the warmer climate comes with its own cause for concern: Hurricanes.

The 2024 Atlantic Hurricane season – which takes place from June 1 to November 30 – has an 85 percent chance of higher-than-average activity this year, thanks to La Nina conditions in the Pacific and high ocean temperatures in the Atlantic, according to the National Oceanic and Atmospheric Administration (NOAA).

If you own property in South Florida, it’s wise to prepare for potential hurricanes if you haven’t already. Here are some must-know recommendations for protecting your home from hurricane damage, according to FloridaDisaster.org, NOAA, and the American Red Cross. Please note that this isn’t an exhaustive list.   

 1. Secure all items that high winds could pick up and turn into projectiles.

This includes trash cans, lawn furniture, and any other objects that could get caught up in intense winds. Bring these items inside if possible and anchor them if it’s not safe to store them indoors (e.g., a gas grill).

2. Trim your trees.

Remove any branches and get rid of trees that could fall and cause structural damage during a storm.

3. Shield your windows and exterior doors.

Utilize storm shutters or plywood to safeguard your windows and doors against high winds and debris.

4. Minimize the effects of flooding.

This includes cleaning out downspouts, drains and gutters, as well as stockpiling sandbags and other protective items. You can also obtain a sump pump with battery backup as a proactive measure.

5. Review your insurance coverage.

Call your insurance company to review your home or renters insurance and ensure it covers repairs and replacements. You’ll need separate flood insurance; ask your insurance company or agent or contact the National Flood Insurance Program to make sure you have a policy in place well in advance of any hurricanes since there’s a 30-day waiting period.    

6. Secure your roof.

In addition to assessing the condition of coverings like shingles, you should ensure your secondary water barrier, roof decking, wall-to-foundation and roof-to-wall connections, and gables are in fighting shape.

7. Consider purchasing a generator.

In case of power outages, you might want to obtain a whole home generator so that you’ll still have electricity.

Despite the potential impact of hurricanes, South Florida is still home to some of the hottest housing markets in the U.S. because of factors like steady economic growth, low median home sale prices, plenty of entertainment options, and tropical scenery.

If you want to explore Florida real estate, the Avalon Suncoast team can help you look for your dream house, condo, land or commercial property. Start now by calling 941-235-7474 or emailing sales@avalonsuncoast.com.

The post 7 Vital Hurricane Preparedness Tips for Florida Homeowners    appeared first on Southwest FL Real Estate.

The United States Federal Tax Law requires that a foreign citizen who sells real estate owned in this country pay taxes on the profit of such sale. To insure that the tax is paid, 15% of the proceeds at closing are withheld and transferred to the United States Treasury. The 15% withholding is mandatory if the seller is a foreign person. (A foreign corporation that distributes a U.S. real property interest must withhold a tax equal to 35% of the gain it recognizes on the distribution to its shareholders.)

The following ONLY applies to homes priced under $300,000. It does not apply to land.
There is a possible waiver available if the buyer signs and states that the home will be the buyer’s primary residence for the next two years. The part everyone forgets about the waiver is, if the seller does not file a tax return and pay the capital gains on the property, the IRS will send a notice of deficiency for the 15% of sales price to the buyer. That deficiency is due in 30 days. If the new buyer can’t pay the tax due, IRS will place a lien on the property and/or sell the property to get the tax owed. This is an enormous risk for the buyer.

At the time of closing the seller must have an ITIN or an application to get one. If they do not the IRS does not have to issue any refunds at a later date.

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. This number is used to record the sale. If a seller needs an ITIN they must complete the W7 application with a Certified Copy of their passport. Click here for the IRS page with Form W7 and instructions. One can apply on line for the ITIN (for a fee, 3rd party company): https://www.itinformw7.com/Application.html

(Certification can only be done by their passport office or a Certified Acceptance Agent) The fee for this process at the time of writing is $200 per application.

Each individual must file a tax return the following January to either claim a refund or pay the balance due. For more information reporting and paying taxes: https://www.irs.gov/individuals/international-taxpayers/reporting-and-paying-tax-on-u-s-real-property-interests

Two forms are used for reporting your sale to the United States Treasury. These are Form 8288 Form-8288 and Form 8288A Form-8288a. The title company conducting the closing should file these forms with the IRS at closing. You should be sure that the title company has your Social Security Number or ITIN to submit with these forms. If you are selling the property without a real estate broker you should check with the seller to be sure that they complete the forms necessary and send the withholding to the IRS. They should send you a copy of the Forms 8288 and 8288A so you can file your tax return for a refund.

Another form that may be relevant is Form 8821, Tax Information Authorization, which will designate the escrow company withholding the seller’s funds.

This is a helpful site with information on How to get your FIRPTA Tax Withholding back. How to get your FIRPTA Tax Withholding back

The IRS (Department of Treasury) has written a page on their website called Road Map to Regulations FIRPTA Road Map to Regulations

This page may have answers to many of your questions.

FIRPTA Process Overview

A Non Resident Alien may be entitled to a refund for taxes withheld under section IRC § 1445 by filing Form 1040NR, U.S. Nonresident Alien Income Tax Return. Click here for Form 1040NR, U.S. Nonresident Alien Income Tax Return Instructions and to download the form.

You may also hire a Certified Acceptance Agent to do all this work for you and to file the tax returns. An Acceptance Agent charges a fee to acquire an ITIN and to file a tax return. The cost of a Certified Acceptance Agent to file your tax return would usually be a minimum of $200 so unless you have a significant withholding amount, you should probably do this yourself. There is also a cost to acquire an ITIN. See the link for Form W7 above.

To find a Certified Acceptance Agent, do a web search for Certified Acceptance Agent or email Your Suncoasteam.

This article contains information for foreign buyers and sellers of Florida real estate. What are the rules and costs for a foreign or international buyers of homes or land in Florida. Is there any difference in costs to a Canadian buyer of Florida real estate, homes or condos? What does it cost for a European to buy Florida homes? What taxes does a foreign seller pay when selling Florida Real Estate? What are the fees to an investor in Florida real estate and homes for a resident of UK, England, Great Britain? Are there any hidden costs to buy or sell real estate in Florida for a non-resident foreigner?

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Have you heard the term, Get a Clue? If you are in the market for a home, it is a good idea. In this case a CLUE is an acronym for Comprehensive Loss Underwriting Exchange. Insurers use a CLUE report as one piece to evaluate the risk of a property.

As a prospective buyer of a home, you can request that the seller provide this report as part of your inspection process. A CLUE report will reveal prior claims filed during the previous five years and help you understand potential risks. In addition, knowledge of previous loss can help you evaluate the extent and quality of any repairs or upgrades to the home.

Sellers with a history of multiple property claims can adversely effect the new buyer’s home owner insurance premiums. Insurance underwriters evaluate a property using multiple criteria. Previous claims filed against a property is among the criteria. To an underwriter, the property is a higher risk if it experiences multiple claims.

When a potential buyer makes an offer on a property, there is the right to conduct any inspection the buyer deems necessary. A CLUE report can be considered an essential part of the inspection process. It is the buyers right to get a clue. However, only an owner of a property can order the report. The buyer must request that the seller contact their insurer to obtain the report.

The CLUE report will include information on any listed loss such as the date of the loss, type, amount paid by the insurer, the status of the claim (whether closed or still pending), the name of the insurance company and the type of policy. The report will not include personal information about the sellers, so that will not be a concern.

When should I get a clue

As a buyer of real estate, you have the right to know the condition of the home. A CLUE report is one important element you can use to evaluate a property. So ask your agent to help you get a clue when you make an offer for a property.

Click the link for additional information about a Comprehensive Loss Underwriting Exchange report.

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The senators are calling for the following reforms:

1. Reevaluate the long-term role of WYOs (private insurance companies) in the NFIP and whether eliminating the “middlemen” creates greater efficiencies and cost-effectiveness
2. Eliminate flat fees and institute a performance-based compensation structure for WYOs and other private contractors to reward quality, rather than quantity of claims handled
3. Require WYOs to provide FEMA, policyholders and their advocates, any and all documentation that was produced to process their claim or adjudicate an appeal
4. Improve the appeals process by eliminating arbitrary deadlines and giving policyholders the option of appealing their claim to an independent, third-party arbitrator to restore trust in this process
5. Provide a streamlined method to handle legal disputes in good faith that prevents insurance attorneys from billing exorbitant fees at the expense of policyholders and ensures every plaintiff gets what they are entitled to, rather than spending extensive resources to deny and fight legitimate claims in court based on technicalities

In my opinion, these reforms do not address the core of the problem. The cost of flood insurance for homeowners and businesses has gotten way out of hand. The NFIP was begun to address this problem because private insurers were unwilling to take the risk at a reasonable cost and many times not at all.


Whether the program was a mistake and whether it has encouraged development in vulnerable areas is beside the point. What we have now cannot be changed easily. It is unconscionable to abandon property owners who have one of their most important investments wrapped up in vulnerable real estate. In this area of Florida there are many homeowners and business owners who were lead to believe that that they were making a reasonable investment and would be able to afford their insurance.

While this problem must be addressed, a reasonable alternative must be offered. To allow insurance premiums to skyrocket would cause real estate values to plummet in vulnerable areas. Owners would be stuck with worthless properties. On the other hand, as a country we cannot continue to subsidize these areas and allow property owners to repair or rebuild in flood prone areas.

My suggestion is to grandfather insurance premiums in these areas. Property owners should be encouraged to purchase NFIP insurance at reasonable cost and once bought, they should be able to renew their policies at no higher increase than inflation. A standard should be set that if a property is damaged by flood and the repairs are beyond a certain percentage of the value of the property or other criteria, the home will be condemned, the owner will receive payment and if the owner chooses to rebuild at the same location, no new policy shall be written. Property owners should receive assistance in relocating to an area outside of the vulnerable area.

There should also be a neighborhood wide policy. If a certain percentage of homes in an area are condemned, the neighborhood should be condemned and owners encouraged to move. The land can then be reclaimed as a clean, natural area.

This policy would offer property owners security and fairness while gradually eliminating development in vulnerable areas.

Finally, there should be a means of addressing the concerns of owners of vacant land in these areas which will be zoned uninsurable. A tax credit equal to the assessed value of the land could be considered.

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By Debra Mann, REALTOR, Suncoasteam Realty

Contact Debra: 941-626-0744, debra@suncoasteam.com

Hurricane season is here again (the season runs from June 1- November 30). With the peak of the season being mid August to late October, it is a good idea to think about getting prepared early, even though our seasons have been relatively quiet in Florida since 2004 & 2005 (and prior to Hurricane Charley, our area of Florida has not seen impact since Donna in 1960!)

The thought of a hurricane or any other natural disaster tends to instantly strike fear into a person’s heart, but unlike tornadoes, earthquakes, & sometimes floods or wild fires, one will get plenty of warning from the National Hurricane Center, that the storm is out there.

It is a good idea to have a file with copies of all of your important information (insurance information, health records, pet records, etc). Stock up on batteries for the house, extra water, paper products and canned food items… anything that needs to be purchased, try to buy before a storm is coming, so you don’t have to fight the crowds at the store. Know your evacuation routes and think about where you will go. There are lots of websites with good information on being prepared.

Here are a few:

http://www.nhc.noaa.gov/prepare/ready.php

https://www.ready.gov/hurricanes

http://www.redcross.org/prepare/disaster/hurricane

Don’t panic if you see that where you live is in the “cone”. The predictions change daily. Just watch the weather forecasts, tune into the National Hurricane Center online & stay informed. Chances are, even if you are in the “cone” for awhile, you will not suffer a direct hit, and even if you do, it makes all the difference in the world if you are prepared for the storm. I know… I stood in the eye of Hurricane Charley, and am here to tell about it! I still live in Southwest Florida, & I love it here!!!

If you are interested in finding out about living in this wonderful paradise we call home, please click on Real Estate for Sale in Rotonda/Englewood …or if you have any questions or want more information about real estate in the Rotonda & Englewood area, contact Your Suncoasteam @ 941-626-0744 or debra@suncoasteam.com.

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