The Barbados Home Buying Process Explained
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Buying Property in Barbados |
Things To Know About Buying A Home In Barbados
Buying a home in Barbados may seem like a formidable task, especially for those who reside elsewhere. Having a good understanding of the procedure and legal requirements pertaining to purchasing real estate in Barbados can help to put your mind at ease. We have created a chart below as a reference guide so you’ll know what to expect at each stage of the process.
We advise that you consult a registered local attorney to assist with all necessary legal documentation. If you do not have a local attorney, we’ll be happy to provide you with a recommended list. Before entering into a binding agreement, a purchaser should ensure that all necessary funds are secured. Non-residents should have evidence that funds for purchase of the home are procured from external sources.
Funds transferred to Barbados must be registered with the Central Bank of Barbados. This guarantees repatriation of funds if the house is ever sold. Permission to purchase a home must first be obtained from the Barbados Exchange Control Authority, but this is merely a formality.
We advise that you consult a registered local attorney to assist with all necessary legal documentation. If you do not have a local attorney, we’ll be happy to provide you with a recommended list. Before entering into a binding agreement, a purchaser should ensure that all necessary funds are secured. Non-residents should have evidence that funds for purchase of the home are procured from external sources.
Funds transferred to Barbados must be registered with the Central Bank of Barbados. This guarantees repatriation of funds if the house is ever sold. Permission to purchase a home must first be obtained from the Barbados Exchange Control Authority, but this is merely a formality.
The Barbados Property Buying Process Explained
