Jamaica Real Estate
At Clarendon Hill Properties apart from residential lettings in the UK, we also offer you the opportunity to buy or sell property on the beautiful island of Jamaica.
Jamaica is a gorgeous tropical island in the Caribbean which offers year-round sunshine and has its main industry in tourism. There are many well known attractions to visit such as Dunn’s River Falls, Bob Marley’s Museum, Mystic Mountain and Rick’s Café as well as some off the beaten track spots of natural beauty, which are still unspoilt.
Jamaica is a paradise island that appeals to all, partly because of the stunning scenery, but also due to the tropical climate and laidback atmosphere.
A lot of people purchase property to go to Jamaica to live full-time or to have a holiday home for themselves, family and friends. Others decide to invest in property using it as a means of generating an income through holiday lets. The ability to purchase a holiday home is affordable for many as costs are much less than in the UK.
Owning your little piece of the rock, in the sun is a dream that can become reality for many.
Our aim in offering this service of facilitating the sales and purchase of property from our base in the UK, provides a point of contact for you here and a liaison with lawyers and real estate agents in Jamaica to smooth the process and complete offer piece of mind.
We offer both resale, new build and off plan properties as well as land to build on. If you are looking to buy or sell in Jamaica please get in touch to see what we can do for you.
Checkout our overseas property tab at the top for just a sample of what is on offer. Speak to us about your requirements and we will seek to source the right property for you.
Selling Your Property In Jamaica
Clarendon Hill Properties are here to assist you in marketing and selling your property in Jamaica. We are based in England however we have extremely good contacts in Jamaica, both with Real Estate Agents and Lawyers for conveyancing purposes.
If you decide to sell your property, we can arrange a formal valuation to take place in order to achieve an accurate sale price.
The process to sell your property can occur in one of two ways and would be charged accordingly. If we were to secure a buyer for you without the assistance of any other agent in Jamaica, the fee would be 3% of the sale price. If the sale was achieved via collaboration with another agent in Jamaica, the cost would be 5% of the sale price (this is the standard fee in Jamaica.) In both instances the fee is payable on completion.
For further information please contact us.
Process To Purchase Property In Jamaica
There are no restrictions on foreign ownership of property.
In purchasing property, the first step is to make an offer. Upon acceptance by the vendor, a land survey and title search are conducted to confirm if there are any other claims or conflicting interests registered against the property. Once fully satisfied, the buyer is advised to seek legal advice to prohibit any other interest from being registered against the property, until transfer has been completed.
There are two kinds of land titles in Jamaica. A common law title is a certificate of ownership used for unregistered lands. However, this is not a full title to the land. However, a common law title can be upgraded to a registered title. This registered title is both legal and official. The Registration of Titles Act stipulates that the original must be retained at the Office of Land and Titles, while a duplicate is provided to the proprietor.
The Agreement for Sale is then prepared, normally by the vendor’s lawyer. It is usually signed by both parties either at the agency (if a real estate agent is employed) or in the presence of a lawyer. The transaction becomes official and binding upon signing the agreement. At the same time, the buyer will be required to pay a deposit of about 10% - 20% of the selling price, depending on what has been agreed upon, and to pay his share of the stamp duty on the transaction.
After signing the sale agreement, an application should be submitted to the Office of the Registrar of Titles and government duties paid.
The transfer of the deed signals the completion of the sale. If the purchase is in cash, the time it takes to complete will depend largely on the participating entities. On the other hand, if a mortgage is involved, the completion can last up to three months or more from the date of signing.
The whole process of registering a property can take around 49 days to complete.
Anyone looking to purchase or sell a property in Jamaica must have a TRN (Taxpayers Registration Number) we can assist you in applying for this.
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