BUYING
Let's help you find the perfect property
When buying real estate in The Bahamas, it is crucial to work with a professional company and agents who are well-versed in the local market. A team that places customer service as a top priority and puts their clients' needs above their own is essential. At 1 OAK Bahamas, we understand this and have built our business model around it. Our company's ambition is to lead with empathy, and our name "1 OAK" stands for "1 of a kind". We are dedicated to providing our clients with personalized service and are committed to ensuring that the process of buying or selling property in The Bahamas is as stress-free as possible. Contact us today and let us help you achieve your real estate goals.
If you are ready to start your journey here are a couple links you may find helpful
To find out how much your qualified for.
Find the right property for you.
Get step by step help on your real estate journey.
Frequently Asked Questions
In a normal transaction the buyer will pay half the associated VAT, and their legal fees. Since 2022 the VAT associated with a purchaser is on a sliding scale as follows;
0 - 99,999 - 2%
100k - 300k - 4%
300k - 500k - 6%
500k - 700k - 8%
700k - $1M - 9%
1M+ - 10%
Each party will need legal representation which will cost approximately 2.5% for the two services they more often than not provide to purchasers. In addition to ensuring you are protected legally they will produce a mortgage document and a conveyance for you both of which can cost 2.5% each.
By working with one agent, you'll have exclusive representation, local market expertise, streamlined communication, and personalized service. Your agent will be focused on finding you the best property at the best price and will take the time to understand your needs and preferences, saving you time and stress in the buying process. Overall, working with one agent can make the process of buying real estate less stressful and more successful as they will act as your guide and help you find the perfect property for your needs and budget.
You can learn more about the Process of buying real estate at majorcay.com (add link to site)
Yes, foreigners can buy property in the Bahamas. The process is similar to buying property in other countries and generally requires hiring a local real estate agent and obtaining a legal title search and survey of the property. International buyers will require approval to purchase from The Bahamas Investment Authority which is obtained through the local law firm who is handling the transaction.
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Getting the right help and building the right team to help you in real estate is essential to your real estate success, our team is ready to help.
