Turks & Caicos Real Estate Blog
Purchasing Real Estate in the Turks & Caicos Islands
2017-08-20 11:29:24 by Roselaure Forbes
The Turks and Caicos Islands (TCI) have no restrictions on foreign property ownership. Non-nationals who wish to buy property do not need permission from the local Government to invest in our Beautiful By Nature islands.

It is highly recommended you use a real estate agent to assist you with the buying process. Hiring an agent will ensure a smooth and painless transaction. Coldwell Banker Real Estate Turks & Caicos is one of the founding members of TCREA - the Turks & Caicos Real Estate Association - that was formed 17 years ago. Your local agent will work with you to ensure all property options are presented, arrange showings, gather financial and operating statement information on various properties, put you in touch with local experts such as appraisers, local banks, survey company, attorneys, etc. They will explain the offer process and guide you through the transaction from beginning to end.

Once a property is selected and the purchase price and terms are agreed upon, a Turks & Caicos Island Attorney will conduct due-diligence, arrange for the deposit to be placed in a client account, prepare and guide the buyers through the exchanging of contracts, collect the balance of funds and finalize the necessary documents and paperwork in order to close the transaction. Once closing is completed the buyer’s attorney will submit the documents for registration, where the property value is assessed and the Stamp Duty (a one-time Government tax based on a percentage of the purchase price) is determined and paid to the TCI Government. After the property transfer is registered, the purchase price is released to the vendor, and the property is yours!

Interested in knowing more about buying in the Beautiful by Nature TCI? Contact Roselaure Forbes, Sales Associate at Coldwell Banker Real Estate Turks & Caicos. Let’s make your dream a reality TODAY!

Article by Roselaure Forbes, Sales Associate
Coldwell Banker Real Estate Turks & Caicos Islands
coldwellbankertci.com
Roselaure@coldwellbankertci.com Cell:(649) 331-9358