Buying a Property

The first step to purchasing a property, get Pre- approved or qualified for a loan from your financial institution then you will have an idea on what you can afford. Then you move onto the most important factor that Realtors repeat continuously the "location." You must be very careful with your location choice because it can either minimize potential  influences on your future resale. So you should make a short list of the neighbourhoods that meet your requirements and discuss them with your Realtor or find a Realtor that knows the market well and can offer you good advice.  

Important Facts

Both Nationals and Non Nationals are free to purchase property they are no restrictions.

A 10% deposit is required when signing the sale agreement and the balance is due on the closing date.

There is no property transfer tax.

The Purchaser must obtain the services of a registered Barbadian Attorney who will search and establish title of the property with regards to the completion of the sale.

Financing is available for non nationals through the Barbados Exchange Control.