Closing Costs when buying a property in Jamaica vary based on the value of the property being purchased.
The exact amount of the fees to be paid will be calculated by your attorney-at-law who will provide a statement of estimated fees once you have indicated the purchase price of your future property. As the closing costs are all percentage based and in some instances attract GCT, they cannot be quoted exactly till the purchase price is fixed.
All of these fees are usually paid at the start of your transaction as they are necessary for the agreement for sale to take effect and begin the process of transfer of the the title.
The deposit is paid to the Vendor of the property via their attorney-at-law and the registration fees and stamp duty are paid to the Tax Administration of Jamaica and National Land Agency via the Vendor’s attorney-at-law. The legal fees are paid to your attorney-at-law and the attorney’s costs are paid to the Vendor’s attorney-at-law.
Calculate the Closing Costs!
Turning a house into your home is an easier reality when there are no money surprises in the acquisition process. Get the full financial picture of what is costs to close the deal.
Try out our free closing costs calculator below.
** The Legal fees are based on a rate of two percent (2%) + GCT.
DISCLAIMER:
The cost calculator is not a guarantee of any fee or cost associated with the purchase process and is only to be used as a tool to estimate associated fees and costs. Use of the Free closing costs calculator does not constitute legal or financial or accounting advice and Chang Law does not accept any liability for use or reliance on the calculator or the content of the article.
TRY THE CLOSING COSTS CALCULATOR FOR AN ESTIMATE OF THE FEES AND COSTS RELATED TO A PROPERTY PURCHASE.
DISCLAIMER
NOTE: The materials available on the blog and website are for informational purposes only and not for the purpose of providing legal advice. You should retain an attorney-at-law to obtain advice with respect to any particular issue or problem. Use of and access to this Web site or any of the contacts contained within the site do not create an attorney-client relationship between Chang Law and the user or browser.