Here's some information to consider whether you wish to purchase, sell or rent a property in Barbados.
Purchasers (Buyers)
First and foremost a meeting with the potential customer is required to define their property requirements to meet clients needs such as:
- Budget
- Desired location/areas of interest
- Number of bedrooms
- Number of bathrooms
- Type of property desired (apartment, condo, single family home, commercial property, land etc)
- Timeline
- Whether or not client has a lawyer if not Best Location Realty will recommend a lawyer for client representation
Once parameters are agreed to Best Location Realty will begin sending potential properties that meet the clients needs. Best Location Realty will assist the purchaser with directly contacting properties and arranging for the viewing of said properties that are of interest. Once a desired property is identified and an offer is ready, Best Location Realty will negotiate upon the clients behalf to obtain the best price and ensure that the agreements meet clients expectations. Throughout the purchasing process Best Location Realty will be available to address any and all concerns to ensure a seamless transfer.
Vendors (Sellers)
First meeting with potential vendor will define selling requirements to meet clients needs. Items to be discussed at initial meeting can include but are not limited to:
Realistic vs Desired Listing Price
Number of bedrooms/bathrooms
Type of property (apartment, condo, single family home, commercial property, land etc)
Plot size (if any)
Timeline for listing property
Agent fees
Whether or not client has a lawyer if not BLR will recommend a lawyer for client representation
If client chooses to move forward with Best Location Realty a listing agreement will be drafted and reviewed by both parties before signing. In addition to a signed listing agreement Best Location Realty will need to review the following documentation as well as have a walkthrough of the property for inspection, to be apprised of present condition of property as well as any known issues. Items needed for review prior to listing includes:
Original title deeds or Certificate of Title (copies will suffice to start the process but ensure that the originals are available)
Original plot plan (copy will suffice to start the process)
If the plot plan is older than 20 years, the purchaser’s attorney will most likely request a new plan
Consider obtaining a land surveyor’s boundary certificate to ensure that there are no encroachments.
Current land tax bill and receipt.
If there is a building on the property, a property insurance policy is required as well as proof that the premium is up to date.
If you own the property through a company, certified copies of all corporate documents.
Copies of all Town Planning applications, permissions, approved plans and certificates of Compliance relating to the property.
If the property is rented, original lease document
If the vendor agrees upon the listing agreement, Best Location Realty will ensure the property is listed on social media along with proper signage at property. Throughout the process of listing the property Best Location Realty will ensure that the vendor is in agreement throughout the process. Walkthroughs, open houses and all offers will be discussed with and presented to the client immediately. Should the vendor chose to work with Best Location Realty's recommended lawyer, we will ensure the customer is apprised of all steps of the process as to ensure a smooth sale of property.
Potential Renters
Items to be discussed at initial meeting can include but are not limited to:
- Budget
- Desired Location or areas of interest
- Number of bedrooms
- Number of bathrooms
- Type of property desired (apartment, condo, single family home, commercial property, land etc)
- Utilities seeking to be included
Once parameters are agreed to Best Location Realty will begin sending potential properties that meet clients needs. Best Location Realty will assist renter with directly contacting properties and arranging for viewing of properties that meet clients needs and interests. Once a desired property is identified and an offer is ready Best Location Realty will negotiate upon the clients behalf to obtain the best rental price and ensure that the rental agreement meets client's expectations prior to signing rental agreement and obtaining keys.
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