Buying a home is one of the largest investments an individual can make. Therefore, it is important to have assistance from a professional estate agent who is knowledgeable in the local real estate market.
REAL ESTATE BUYERS GUIDE FOR THE BAHAMAS
At Lyford Cay Sotheby's International Realty, our agents are experts in every facet of the business: They have an in-depth knowledge of comparable values, construction costs, and they can assist with relocation and immigration/permanent residency logistics. For overseas persons residing in the tax neutral Bahamas, there may be significant tax advantages. We can guide you to knowledgeable tax experts in The Bahamas.
Your search for the right Bahamas home begins by developing a clear understanding of the home lifestyle you most desire. We understand that your idea of 'home' goes beyond the physical characteristics of a house and its offerings. 'Home' also reflects a certain style that you can call your own, an everyday lifestyle that a particular community offers.
Lifestyle needs are as individual as people themselves. That's why Lyford Cay Sotheby's International Realty represents the most diverse and desirable lifestyle communities throughout the islands of the Bahamas. We are specialists in gated communities, exclusive Country Club neighbourhoods, unique waterfront properties and private island properties for everyone dreaming of a place under the sun.
Begin your search here for Bahamas properties for sale
The buying process
- Be prepared. Begin your process by having an understanding of the type of home you want, including what features are important to you. Be sure to distinguish between "wants" and "needs."
- Choose the Agent that best suits you. Our Bahamas sales agents have a variety of strengths and specialties to serve and assist you. It is important to choose a real estate professional that you feel comfortable with.
- Search our website for available Bahamas properties and discuss your interest with your chosen real estate agent.
- View properties with your agent. The Bahamas has an MLS (Multiple Listing Service) system, so your chosen real estate agent has access to all properties and can show you any property throughout the Bahamas, regardless of the listing company.
- Upon finding a suitable property, have your agent prepare a written letter of offer that includes all terms, and contingencies, financing stipulations and a closing date. The letter of offer will be presented to the seller and most likely negotiations will take place.
- Have your Bahamas real estate agent recommend competent professionals such as bankers & lawyers.
- When negotiations are complete, your attorney and the seller’s attorney will prepare a formal Sales Contract that details every aspect of the transaction from escrow terms to the closing date. A 10% deposit is required upon the signing of the Sales Contract.
- If you are financing the purchase, the lending institution will require an appraisal. Your Bahamas real estate agent can co-ordinate this for you.
- Take a final walk-through of the property with your real estate agent prior to closing.