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Selling Process
Selling Process
With a wealth of real estate knowledge and a team of highly-qualified experts, more clients trust us to list and sell their properties in Barbados. We provide up-to-date information and valuable resources, giving you the confidence to make informed decisions throughout the sale process. Our seller dashboard keeps you informed with real-time updates on viewings and other property activity as we work to find the ideal buyer. Explore key insights below for more details.
Transaction Costs:
- Attorney fees are approx. 1% – 2.5% plus 17.5% VAT
- Real estate agent’s fees will be 4% to 5% plus 17% VAT – this fee includes marketing, viewing, signage, etc.
- Stamp duty is 1%
- Property transfer tax is payable by the vendor at the following rates:
- Unimproved property – 2.5%
- Improved property
- First US $75,000 is exempt
- Amounts over US $75,000 – 2.5%
Standard Sale Procedure:
- Verbal offer and acceptance
- Appointment of an attorney-at-law
- Exchange of contracts within two to four weeks
- Provision of copies of prior deeds
- Draft conveyance sent to the purchaser’s attorney for perusal
- Signing of conveyance within two to six months
- Land tax bills and water bills must be fully paid up