| Buying property in Jamaica can prove to | | | | other claims against it until the |
| be a sound investment however like most | | | | transfer is completed. |
| housing markets it all depends on | | | | A registered title is the legal and |
| location and your future buyers or | | | | official title, though much of the land |
| renters. Overseas buyers returning to | | | | has common law title. This is a |
| Jamaica will have money in their pockets | | | | certificate of ownership used for |
| gained from owning a home in Europe. | | | | unregistered lands and should be |
| Many people return to Jamaica for | | | | upgraded to a registered title before |
| example from the UK and have made | | | | that land is bought. The original |
| substantial profits on their homes. A | | | | registered title is kept at the Office |
| returnee will want the best they can | | | | of Land and Titles and a copy provided |
| afford in Jamaica and experience shows | | | | to the owner, so all registered titles |
| that they will want to live in an area | | | | should be easily found. |
| that has all the comforts of home. | | | | If everything checks out, then an |
| Buying a home that a returnee will | | | | agreement for sale is prepared by the |
| desire will be a good investment. | | | | vendor or his lawyer. This is signed by |
| Increasingly overseas buyers see Jamaica | | | | both parties at the real estate office |
| as a place to buy property, with all | | | | or lawyer's office and the buyer places |
| year round sunshine and relatively low | | | | a deposit, from 10-20% of the selling |
| prices you can see the attraction. There | | | | price. Stamp duty is paid by both |
| are no restrictions on buying property | | | | parties in Jamaica. After signing the |
| in Jamaica, so foreigners may purchase | | | | sale agreement the buyer must submit an |
| the property that they like. Jamaica has | | | | application to the Office of Registrar |
| a well-developed real estate market and | | | | of Titles and have it stamped within 30 |
| agents are commonly used when purchasing | | | | days of the transfer of property or |
| homes and property. | | | | there will be substantial penalties. |
| Once a buyer has found a property, an | | | | Final payment and transfer of deed |
| offer is made. If the vendor accepts the | | | | completes the sale. When this happens |
| offer, then land survey and title | | | | depends on how the payment is made, in |
| searches are conducted. It is important | | | | cash or mortgage, and how long it takes |
| to make sure there are no other claims | | | | to register the property in the new |
| against the property before proceeding. | | | | owner's name, which can be as long as |
| After conducting the search, then it is | | | | three months. Once the deed is |
| recommended that the buyer lodge a | | | | transferred the property is now your's, |
| caveat on the property to prohibit any | | | | and you can enjoy your home in Jamaica. |