No Comments

Legal Fee

Attorney’s fee for compensation of all legal services performed by an attorney or law firm, associated with land transactions. This could be a flat-rate or percentage of the purchase price of the property.

No Comments

Registration Fee

This is a fee charged by the National Land Agency (NLA) – Titles Division at a rate of 0.5% of the property value to register changes to the land title. This is shared equally between the vendor and the purchaser.

No Comments

Stamp Duty

This is a  Government Tax paid to the Stamp Office at a rate of 4% of the sale price or market value of the property. This is shared equally between the vendor and the purchaser.

No Comments

Transfer Tax

This is a  Government Tax paid by the vendor (seller) at a rate of 5% of the sale price or market value of the property. It is paid to the Stamp Office for transfer of property in land transactions.

 

See Transfer Tax Act

 

 

 

 

No Comments

Purchaser

A person, company or business who buys a property for sale. They are also referred to as the ‘buyer‘.

BEFORE YOU GO

Learn How To Buy An Apartment or Condo in Jamaica

This FREE (and highly resourceful) eBook will give you several tips and strategies to help you buy an apartment or condo.

I do not want to buy an apartment