Listing & Selling your property in Barbados…
Listing & Selling your property in Barbados is a big decision and we want to be sure that our clients feel comfortable & confident working with Barbados Villa Sales. Our Team knows the market and with our knowledge from not only selling, but in managing over 40 properties on the west coast you are guaranteed to have a personalised service from start to finish. Emilee will be ensure that you have all the up-to-date information & resources to make listing & selling your property in Barbados a success.
When it comes time to Selling your property, there are going to be a few costs that you should be aware of:
Local attorney fees of 1%-2.5% (+VATof 17.5%) on the purchase price
Stamp Duty of 1%
Your Real Estate Agent’s Fees of 4%-5% (+VAT of 17.5%) on the purchase price
Property Transfer Tax which has rates dependent on if the property is unimproved (2.5% on purchase price) or improved (please note the first USD$75,000 is exempt, but anything over that limit is 2.5% on purchase price).
Now it comes time for the fun part… SELLING your property! The key to a smooth & successful sale is choosing you Listing Agent wisely! Be sure to go with an agent who you can get along with, someone who has knowledge on the property & the current market, works with other agents to gain more exposure & most importantly someone you trust!
Now let’s get onto the actual process of a property sale in Barbados:
Written offer & acceptance. We at BVS like to have everything in writing so that we can go back should we need to.
Appointing your attorney-at-law & exchanging with the purchasers local attorney-at-law
The exchange of contracts by the local attorneys, this is usually between 2-4 weeks
Copies are made of prior deeds
Your attorney will draft the conveyance & sent to the purchaser’s attorney
Signing of the conveyance, this is usually between 3-6 months
Ensuring all Land Tax & other bills are paid in full if not already done
