There are a number of important things that you should know as a perspective buyer of property in the beautiful island of Grenada. You’ve got to have certain important documents that will facilitate the property purchase. You may need a loan from a financial institution and that may require the following things:
- Job letter showing your income
- Valuation of the property
- Offer letter from the real estate agent or the seller
- Any other relevant documents
You may need to make a 10% down payment to the seller after you sign the sales agreement. This is usually non-refundable, unless there is a problem on the seller’s end of the bargain that causes the sale to be held up.
As long as everything goes according to planned, you can be expected to take ownership of your property within at least three months, unless the process takes longer because of the nature of the transaction.
Here are a number of fees that you, the buyer are expected to pay:
- Legal fees (2% of purchase price)
- 15% VAT Stamp duty (about 1% of the purchase price)
- Alien Landholding License (10% for non-nationals)
- Land Surveyor’s fee (0.5% of value of land)
- Additional fees & incidentals (may amount to US$ 600.00)
If you are looking to purchase land in Grenada or buy real estate in Grenada then you have come to the right place. We have experience with land transfers, purchases and real estate rentals and purchases in Grenada. When searching for luxury real estate or yachts in Grenada you can rest assured that you are in good hands with our experienced team. Additionally we can help with yacht charters as well just give us a call for all of your land, real estate property and yacht needs in Grenada.