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Guide for Selling Bahamas Real Estate

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Why SellWITH US

When it comes to selling your property, two critical factors significantly impact the duration it spends on the market: Price and Exposure. At Berkshire Hathaway HomeServices, we're committed to guiding you every step of the way. Our entire office collaborates to serve you, not just your agent.

With a track record of appraising billions of dollar's worth of Bahamian Real Estate, our valuations are universally accepted throughout The Bahamas by all major banks and lending institutions as well as internationally. Our expert team is well-versed in pricing your property accurately within today's dynamic market.

Berkshire Hathaway HomeServices is one of the world’s fastest growing real estate brokage franchise networks with over 1,481 offices worldwide and over 50,000 associates all working together as a team. Our collaboration extends seamlessly beyond our real estate network to include Berkshire Hathaway's conglomerate of companies, enhancing our capability to seamlessly connect your property with the ideal clientele. Through our localized expertise, we work tirelessly to ensure your property is prominently showcased to the right audience.

Thinking of selling your property.

Explore how Berkshire Hathaway HomeServices can genuinely deliver a meticulously designed marketing strategy to sell your property and connect with the perfect clientele. Seize the opportunity to request your customized strategy today and let our dedicated team work tirelessly on your behalf!

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Fees Associated With Selling Real Estate

It's essential to account for all costs when selling a property

Property Conveyances and Government Taxes

What is a Property Conveyance?

Conveyance, in the realm of real estate, pertains to the formal documentation process of transferring land ownership from one entity to another. This critical procedure involves bestowing property title deeds to buyers and registering the sale with the Bahamas Government Registrar, effectively completing the sale of properties previously under their ownership.

What is the tax rate on Property Conveyances in The Bahamas?

Real Estate Commissions and Rates

Real estate sales and rental commissions are typically paid by the vendor or landlord. This is typical but is subject to change during negotiations if the buyer and seller agree to a different deal structure. Developed Property is 6% while undeveloped land is 10%. Note: All commission rates are also subject to VAT. See Value Added Tax (VAT) Section.

Legal Fees

In The Bahamas, any real estate transaction mandates the collaboration of a local attorney. Normally, legal expenses constitute a maximum of 2.5% of the agreed sales price, but this percentage can be subject to adjustment through negotiation and depends on the value of the transaction and your attorneys fee structure. The timeline for these transactions typically extends from two to three months, potentially shorter in specific situations. Engaging the expertise of a Bahamian attorney is crucial for both buyers and sellers to guarantee comprehensive legal representation.

Repatriation of Foreign Funds at the time of Sale

You will be able to repatriate the entire proceeds at the time of sale including any profits provided in the currency of your purchase once you register the purchase with the Exchange Control Department of the Central Bank at the time of purchase. Your Real Estate lawyer will register the purchase for you at your request.

What is a Property Conveyance?

Conveyance, in the realm of real estate, pertains to the formal documentation process of transferring land ownership from one entity to another. This critical procedure involves bestowing property title deeds to buyers and registering the sale with the Bahamas Government Registrar, effectively completing the sale of properties previously under their ownership.

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