GENERAL REAL ESTATE INFORMATION

Real Estate agents cannot arrange a mortgage or other financial deal. Agents can however recommend, Banks, Mortgage Companies, Attorneys, Engineers, or Appraisals and other professionals for the buyer to interview.

When you secure the services of an Agent, you receive assistance in three (3) primary areas:

• Property Evaluation
• Marketing
• Contract Negotiation

CONSIDERATIONS WHEN PURCHASING PROPERTY IN ANTIGUA

• Purchasing property for Non-Antigua Nationals require a Non-Citizen landholder license for 5% of the value of the property. This will take from 1-4 months to be approved.
• Transfer fees for the purchase is 2.5% and for the seller 7.5%.
• Legal fees are approximately 1.5%.
• Financing is available through banks on the island. Interest rates are 11-12.5% depending on the loan. A further 3% Government Tax applies to Non-Nationals.
• Most Properties are free hold or fee simple. Real Estate commission differ depending on the property.
• Property Management fees range from 10-20% depending on the services required.
• Property Insurance is approximately 2% of the value insured.
• The main considerations are location, view, wind, noise factor and price.