Bright 5 bedroom Villa for sale with countryside view in Saint James, Saint James
Features include an open-plan living/dining area with access out onto the lower pool deck and gazebo. Fitted and equipped kitchen, laundry room, family room, en-suite master bedroom and 3 further bedrooms.
The lower level features a large guest bedroom with an en-suite bathroom, a well-equipped gym, and a large recreation room.
Other features include a double garage and an abundance of storage. There is a drying yard, and a utility room with potable water storage. Rainwater is collected in a large cistern under the pool for irrigation purposes. There is a large fully fenced back lawn and all of the bedrooms, the gym and the recreation room have air conditioning.
The house is fully fitted with discrete burglar bars and a security system.
In total there are 4 full bathrooms and 2 additional WC's and the property is being sold furnished.
Features
Fees Paid By Seller
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This Villa is located in Saint James in Barbados
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Buying Real Estate in Barbados
1. Registering with a Barbadian Lawyer and the Central Bank of Barbados.
In order to purchase a property in Barbados you will require a registered Barbadian lawyer, their fees will be around 1.5 to 2% of the purchase price (+15% VAT). The buying process will generally take around 3 months. There are not generally any restrictions on ownership by foreigners, except for a formality that, if you are a non-resident, the Barbados Central bank must you give you permission before you may purchase a property. If you fail to gain this permission your purchase will be void. It is required by the Central Bank of Barbados that all money that is brought into the country must be registered. This can be best be handled by your Barbadian lawyer.
2. Signing the Purchase Agreement and Paying the deposit
Your lawyer will be charged with the conveyance of the title, the recording of the deeds and registering the survey plans with the Land Registry. Before you sign the Purchase Agreement and pay the 10% deposit, they will also check the agreement which will have been drawn up by the vendors lawyers. The Purchase Agreement will then be signed by the vendor and the deposit will be held by the vendor’s lawyers. The deposit will be forfeited if at any point after this you decide not to go through with the purchase.
3. The Conveyance
The register search will be carried out by your by your lawyer in order to establish whether the property or land is free from charges or any encumbrances and to establish the title. The conveyance will be drawn up by the sellers lawyer and will be checked by your lawyer. Once these checks have been made you will sign the conveyance and the balance of the funds will be paid. Once you have signed the conveyance it will go back to the venor’s solicitor to be signed by the vendor. Your part of the sale is now complete, all that is left is for the vendor to pay the stamp duty and to transfer the taxes.
4. General Information on Property Ownership in Barbados
Property can be owned in various ways in Barbados. In the name of an individual, through a trust or other entity, or through a foreign or local company. It is not unusual for non-Barbadians to purchase properties through newly formed offshore companies which are outside Barbados, but are registered to do business in Barbados.