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
When you secure the services of an Agent, you receive
assistance in three (3) primary areas:
- Property Evaluation
- 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
- 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
- Property Insurance is approximately 2% of the value insured.
- The main considerations are location, view, wind, noise factor and