To buy property in the bahamas:

1. Select your property.

2. Sign reservation agreement and send deposit to Realtor to hold in client account.

3. A sales agreement is produced ready for signing between the buyer and seller. Lawyer is instructed to do title search and put the paperwork together to complete the process.Once both buyer and seller sign the agreement specifying the terms of the transaction it becomes a binding contract.

The Closing and conveyance will occur after good title has been shown and the balance of the purchase has been paid. All closing costs, including legal fees, government stamp tax, real estate commissions and recording fees are then disbursed.

Buyer and seller typically share the stamp tax (unless otherwise agreed) and are responsible for their individual attorney's fees. These are established by the Bahamas Bar Association, and typically amount to 2.5% of the gross sale price of the property. There is also a small recording fee when the title deeds are recorded at the Public Registry. If you do not have a Bahamian lawyer. Our company lawyer charge a minimum of $750 per transaction and .between 1.5% - 2.5% for each real estate transaction.

Stamp Duties & Taxes
Bahamas Government Stamp Tax on Property Conveyances are as follows:
Up to and including $0 - $20,000 = 4%
From $20,000.01 - $50,000.00 = 6%
From $50,000.01 - 100,000.00 = 8%
From $100,00.01 - 250,000.00 = 10%
Over $250,000.00 = 12%

This will not impact the continuation of exempting first-time homeowners from the payment of stamp tax on a dwelling home or property for the construction of a dwelling home valued up to $500,000

Registration of Property and Permits:
Under the International Persons Landholding Act, permits are required for land purchases made by non-Bahamians only if the property being bought is larger than five contiguous acres or if the buyer intends to rent out all or a part of the real estate or to develop for commercial purposes. Non-Bahamians must register their purchase of any type of property with the Secretary to the Foreign Investments Board. The fee to apply to register a property or to apply for a permit is $25.00. Once the certificate of registration or permit is issued the additional fees due depend on the value of the property.

On top of your purchase price allow between 5-13% depending on the value of the property.

BE AWARE - If you do not use our recommended lawyers, architects and construction company - Do not use any lawyer who does not or will not tell you upfront what their fees are. Ask them to agree in writing how much and for what services they are providing.

Use only certified Architects, Engineers and Bahamian construction companies.

To SELL property in the bahamas:

1. Select your agent, try not to put the property on to many agents listings it makes the property look desperate to sell when in fact you have only just listed it.

2. Make sure your agent is a registered real estate broker within the Bahamas or is affiliated with one.

3. Make sure all of your deeds are in correct order and all property taxes are paid up

4. Select your lawyer wisely

5. Entrust your agent with a set of keys if you are a foreign owner so the property can be shown to selective buyers

6. Prepare your property... This is the best advice and the most important point. Make sure your property is offered for sale in the best condition possible. If you need to paint or refurbish then do so prior to offering it for sale. We cannot show property unless it is priced accordingly with shabby paintwork or furnishings.. we will advise you accordingly as to what needs changing or updating at the time of taking on your listing. If you have land then keep it tidy and cut back or better still clear