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Selling Process

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Selling
Process

Backed by deep market knowledge and a team of highly qualified professionals, Terra Luxury is the trusted choice for discerning clients looking to list and sell their Barbados properties. We offer timely insights and tailored resources to support informed decision-making at every stage of the sale process.

Our exclusive seller dashboard provides real-time updates on viewings and activity, keeping you fully informed as we work to secure the right buyer. Explore the key insights below to learn more.

TRANSACTION COSTS:

  • Attorney fees are approx. 1% – 2.5% plus 17.5% VAT
  • Real estate agent’s fees will be 4% to 5% plus 17% VAT – this fee includes marketing, viewing, signage, etc.
  • Stamp duty is 1%
  • Property transfer tax is payable by the vendor at the following rates:
    • Unimproved property – 2.5%
    • Improved property
    • First US $75,000 is exempt
    • Amounts over US $75,000 – 2.5%

STANDARD SALE PROCEDURE:

  • Verbal offer and acceptance
  • Appointment of an attorney-at-law
  • Exchange of contracts within two to four weeks
  • Provision of copies of prior deeds
  • Draft conveyance sent to the purchaser’s attorney for perusal
  • Signing of conveyance within two to six months
  • Land tax bills and water bills must be fully paid up
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