Buyer's Guide To Buy Properties in Cayman Islands

1. Buyer’s Guide To Buy Properties in Cayman Islands By Ashmore Alexander

2. Buying real estate in the Cayman Islands is a simple & straightforward process. With no restrictions on foreign ownership of a single property, no annual property taxes and no capital gains taxes to be paid Cayman Island is perfect to buy new properties.

3. Buying property in the Cayman Islands is an inviting prospect and strongly encouraged by the Cayman Islands Government who guarantee title for all real estate transactions.

4. Step 1 - Mortgage pre-approval

5. Step 2 - Total cost of purchase A basic rule of thumb is to budget an additional 10% to 12% of the purchase price for closing costs depending on the area in which you are purchasing & the level of stamp duty it attracts. To buy a property in the Cayman Islands, following are the additional costs:

6. 1. Stamp Duty

7. 2. Valuation

8. 3. Life Insurance

9. 4. Legal Fees

10. Step 3. Finding the Perfect Home Once you have established a budget for buying property within the Cayman Islands it is important to talk to real estate advisor, having expert knowledge of the Cayman Islands real estate market, they will be able to make recommendations as to the location that will best suit your lifestyle & budget and the pros & cons of buying a house versus a condo.

11. Step 4 - Presenting an offer

12. Step 5 - Closing

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