Buying Property in Antigua - A Beginner's Guide
We understand that coming to Antigua and seeing its spectacular coastline makes you want to join us and own home in Antigua as your own slice of paradise.
Antigua, like any growing country, presents its own unique challenges to the would-be property buyer. If you know the buying procedure you are halfway to your dream Antiguan property but having the right agency behind you will ensure that your dreams become a reality and your property remains the paradise you always wanted.
Luxury Locations Real Estate top tips for the would-be property buyer in Antigua:
- Ensure that the seller has the right to sell the property, by instructing your Luxury Locations property agent or lawyer to do a search so that the property can be sold free and clear of any liens or cautions.
- Deposits should only be held by reputable lawyers in escrow accounts under Antiguan law - if not, your money is not protected.
- Always have a structural survey of the property by a government-approved surveyor.
- Never choose the same lawyer as the seller. It may save you money, but in the long run you will want someone who is paid by you to protect your real estate investment.
- Ensure there is a full inventory of the property prior to contract; ensure that photos are included as proof of what was agreed.
- Ensure that the property has insurance for the full sale value up to the completion date.
- If you are considering a new build property, ensure you employ a government-certified engineer to ensure that the build at each stage is correctly constructed to the plans prior to releasing any money.
- If you are looking for an Antigua investment property which you wish to let, ensure you consult a specialist property management agent to get the real picture on what your income might be.
- Antigua non-citizens licence 5% of purchase price (applicable to non-Antiguans); government transfer fees 2.5% of value; legal costs 1% or 2% depending on the property value.
- No matter what... DON'T break these rules and always work with a reputable real estate agent such as Luxury Locations.
There are a number of real estate agencies in Antigua but few that can offer the service and professionalism you deserve. Working with the right agency ensures that you only work with those who have extensive experience in this niche market.