Shrimp Hole Development

Reservation & payment plan

 

Buying property in the Bahamas is a process. Here are a few steps in that process. First, keep in mind that no Bank that does not have an office or branch in Long Island will finance your purchase (that goes for both USA and Bahamian Banks). So unless you are going to purchase it in cash, this means you will most likely use ScotiaBank or RBC. If you are not legible for a loan in Long Island or abroad, we offer you in-house financing.
Next, and assuming you have found your perfect piece of property, contact a lawyer to keep the process smooth and efficient. After a good review of the title and deed, paying some stamp taxes, and lawyer fees, you are on your way to owning property in the Bahamas.

 

All lots are minimum ¼ acre in size. Sales prices start at $18,000,00 per lot Excl. VAT.

We offer three payment methods:

1. In House financing option with down payment:
A downpayment of $3,000.00 is required to reserve a lot. The remainder is payable over 18 months with 6% annual interest. Closing costs consists of $1,500.00 legal fees, plus 2% for the government stamp tax.
Example:
Purchase price: $ 18,000.00
down payment :    $3,000.00

Monthly payment @ 6% annual over 18 months: $908.33 (plus bank fees) + closing costs

 

2. In House Financing option with no money down:

The total cost, is payable over 18 months with 9% annual interest.

Example:
Purchase price: $ 18,000.00
Monthly payment @ 9% over 18 months=$1,135.00 (plus bank fees) + closing costs.

 

3. Paying in full:

A downpayment of $3,000.00 is required to reserve a lot. The remainder is paid in full within 60 days.

 

 

 

hands with money

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