Selling Property in Jamaica
EFFECTIVE AND SKILLFUL REPRESENTATION YOU CAN RELY ON
I AM SELLING PROPERTY IN JAMAICA
Once you have decided that you are ready to sell your land or property you may contact us and we will assist you, along with our realtor, in the process of finding a ready, willing and able purchaser. And if you have found your own purchaser, that�s fine too.
We will draft an agreement for sale on your behalf. Once the purchaser agrees to the terms and conditions in the sale agreement, he/she will sign the document and return it along with a 10 % deposit to our Office.
Here is a list of some of the usual fees associated with the sale of a property. There may be additional fees associated with your sale depending on any additional considerations or the complexity of your transaction. Our Office will provide you with a costing after your consultation appointment.
- Attorney’s fees, this usually ranges from 3-5% of the purchase price for the property.
- Miscellaneous sale related fees.
- Cost for the sale agreement- you will have to pay a half of these fee.
- Registration fees at the NLA- this is .5% of the purchase price for the property. You will only be required to a half of this sum.
- Stamp Duty this is a set fee of $100 or $5000 depending on the value of the property as assessed by the Tax Administration of Jamaica. You will be required to be a half of this sum. It is standard for this to be deducted from the deposit paid by the purchaser.
- Transfer Tax this is 2% of the market value of the property, you will be required to pay this sum in full to the Stamp Office. It is standard for this to be deducted from the deposit paid by the purchaser.