Owning Real Estate is easier to buy than you may think and “Ten Steps to Buying Real Estate in the Bahamas” is the ideal guide to help you real estate.

So whether you are looking to purchase your dream beachfront home or ocean condominium in that exclusive gated community, here are ten steps to help you purchase your dream real estate property.

Ten Steps to Buying Real Estate in the Bahamas

Step 1 – Arrange Financing

Financing is critical to any luxury real estate transaction and there is no difference when it come to buying real estate in the Bahamas. So the first thing you will need to do is to get your mortgage loan pre-approved as this will help you narrow down the price range of the property you are interested in.

And you can get your financing in the Bahamas.As there are US Dollar mortgage facilities available with rates typically 2 – 2-1⁄2 % above LIBOR and down payment requirements ranging from 60% – 70%.

Getting a Mortgage in the Bahamas

* You would also be happy to know that we can arrange financing up to 80% for your Real Estate purchase

 Step 2. – Consider the location of your real estate property

And once you know the price range of property you will buying then it time to consider that one thing you have heard over and over again about real estate and it no – it all about location, location, location!

And with buying Bahamas Real Estate this is no different the only problem this time is that with over forty gated communities through out the islands and hundreds of private islands and Cays,  there are just so many choices!

And there is no need to worry,  no matter which community you choose as they provide you with island living that allows easy access to U.S and Canadian cities, modern telecommunication infrastructure and other facilities, fine restaurant, grocery stores and upscale shopping.

So you must really be guided by the purpose for your purchase.

The description of the property you are looking to purchase is very important so the more thorough and descriptive you can be about the key factor of your dream inclusive of:-

1. Whether you wish a combination of beach, dock, and waterfront
2. The number of bedrooms, and the types of amenities
3. whether you are planning to rent and your target income per year

* And here is a complete listing and description of all of real estate communities located in Nassau

Step 3. Contact A Bahamas Real Estate Association Licensed Agent

The real estate agent you choose is pivotal to the your real estate buying experience so you want to be sure to choose an agent that best suits you.  You will find that our Bahamas Real Estate Association (BREA) licensed agents have the strengths professional specialties you need to not only feel comfortable but confident in with your real estate purchase.

Step 4 – Be Patient with Your Search

Step 5 – Get the property professionally Inspected

Step 6 – Consider The Total Cost of Ownership

You want to be sure that you understand all the cost associated with your real estate purchase.  This video details the cost of buying real estate in the Bahamas. 

Cost of Buying Real Estate in the Bahamas

Step 7 – Apply for Home Owner Residency Permit

While living in the Bahamas maybe appealing there are some rule that the government has establish for residency in the Bahamas. This video provides you with information on what you need to know in order to live in the Bahamas.

Living in the Bahamas

Step 8 – Make An Offer

Step 9 – Closing The Sale

Step 10 – Register Your Purchase With The Bahamas Investment Authority

One you have made your real estate purchase then you need to be sure and register your purchase. This video outlines how you would go about registering your Bahamas real estate purchase.

Registering Your Bahamas real estate purchase

Step 11 – Record Your Deeds