Are you searching for homes for sale in Bahamas? There are many important factors to consider when buying a home in the Bahamas. There is a host of single-family homes, condominiums, resort properties, and other types of properties for sale in the Island. Hence, you have to be cautious as to what type of home you select in the region. In fact, the Bahamas attracts a wide range of real estate investors from different parts of the globe – from investors who purchase multi-million dollar properties on the Island to people who purchase condominiums in the price range $160,000 – $500,000. The International Persons Landholding Act of 1993 permits non-Bahamians to purchase property on the Island. Here are some tips to consider when looking for homes for sale in Bahamas.
Non-Bahamians require a special permit to purchase a property on the Island under the following circumstances:
- If you plan to invest in a property of more than two acres.
- You plan to rent out a portion or the entire property.
- You plan to purchase the property for commercial development projects.
If a foreign national buys property for which a permit is not required, he or she has to register the property with the Foreign Investment Board under the Act. The best way to purchase a home in the Bahamas is to work with a reputed real estate agent in the region. They are highly specialized in dealing with all types of property purchases in the Bahamas. But you should be cautious when hiring the best real estate broker in the area. There are hundreds of agents operating on the Island. But all of these professionals are not top-notch. You need to do your research properly when selecting the best real estate broker in the area when purchasing a home for sale in the Bahamas.
The BREA or Bahamas Real Estate Association is responsible for licensing the real estate agents and brokers on the Island. Hence, you should always look for a licensed real estate agent when investing in a home for sale in the Bahamas. In fact, buyers are urged by the authorities to work with a registered broker when investing in property. Finding a reliable BREA member is not difficult when you spend some time performing the necessary research. A Google search will reveal a host of such brokers operating in the region. Make sure you compare the quality of service and prices of these professionals before choosing the best one for the job.
Positive customer feedback is an important indication of a reliable broker on the Bahamas. Check related online review sites and forums to determine the reputation and experience of the real estate agent before you decide to work with the individual. These are important things to look for when investing in homes for sale in the Bahamas.
Better Homes and Gardens is a highly specialized real estate agent on the Bahamas. Call them right now to facilitate your real estate investment on the Bahamas.