The Bahamas buying process is straightforward and well-established. From accepted offer to closing typically takes 60-90 days, with your attorney guiding title search, conveyance, and registration.
What are the steps?
The process follows a clear sequence, with your Bahamian attorney handling the legal work.
- Accepted offer
- Retain a Bahamian attorney
- Title search
- Conveyance prepared
- Registration
- Closing (60-90 days)
What are the closing costs?
Closing cost lines vary; confirm current figures at the time of purchase.
- Government VAT on the conveyance
- Legal fees and recording
- If financing: mortgage stamp duty (~1% of loan)
- Bank fees (~1%)
- Lender's attorney ($5K-$10K)
- Appraisal ($1.5K-$5K)
What about financing?
Bahamian banks (RBC, CIBC FirstCaribbean, Scotiabank) lend to foreigners with 30-50% down, rates around 6-8%, and 15-25 year terms. Many buyers pay cash or finance abroad.
This is general information, not legal or tax advice. Confirm details with a licensed Bahamian attorney and, for tax matters, a qualified cross-border tax advisor before purchasing.