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Frequently Asked Questions

Roberts Caribbean is your first choice in buying, selling or renting lands, homes, villas and other property in Grenada. We are positioned to become the leading real estate agency in the Tri-Island State.

It is important therefore that we provide our sellers with all of the information needed to facilitate a profitable and quick sale, while ensuring that each buyer, experienced or novice clearly understands the process involved in owning property in this beautiful land.

This resource answers questions frequently asked by sellers and buyers.

How do I begin the process of owning a home, buying land or other property in Grenada?

It is always wise to determine how much money one can invest in the purchase of the property before commencing the search. In the case where a mortgage is required, it is recommended that the buyer consults with his/her financial institution to find out how much money that can be obtained for the purchase of the property based on income and other commitments. Once this is known, the Buyer should begin the search for property by visiting the Roberts Caribbean website at robertscaribbean.com and contacting one of the Company’s Real Estate Agents who will be delighted to find you your ideal property.

What happens once I find a property that I am interested in buying?

Your Real Estate Agent at Roberts Caribbean informs the Seller of the price offered for the property.

Once the purchase price is agreed between Seller and Buyer, your Real Estate Agent prepares an official Acceptance Letter to the Seller and Buyer specifying the type of property that is been sold and the accepted price. This letter once signed by all parties is typically copied to the Seller and Buyer’s lawyers and the Buyer’s financial institution if a loan is required.

The Acceptance Letter is used by the Seller’s lawyer to prepare a sales agreement, which is sent to the Buyer’s lawyer for review. Once approved, it is signed by both the Buyer and Seller.

What documents is the Buyer expected to provide to facilitate the purchase of the property?

Different financial institutions have different requirements for getting a loan. However, most institutions would request the following from the buyer:

  • Job letter showing income;
  • Valuation of the property;
  • An offer letter from the Seller or his/her Real Estate Agency;
  • Deed and plan for the land that is been purchased;
  • Other documents as deemed necessary.

Why Should I carry out an inspection of the property I am buying?

No matter how excited you are about purchasing your new home, commercial building, land or other property it is prudent to undertake an inspection to ensure that the property is in a suitable condition. By doing this, you avoid surprises after settlement and additional costs for repair or fixing the problem.

Do I need to pay a deposit once I sign the sales agreement?

Yes. The Buyer on signing the sales agreement is expected to pay a 10% deposit to the Seller, which is held in escrow by the Seller’s lawyer. In most cases, this is non-refundable, unless the sale is held up because of a problem on the Seller’s end.  

How soon can I expect to take ownership of my property?

Once all goes smoothly between both parties, a closed deal and transfer of property from the Seller to Buyer can occur within three months. However, the process could take longer depending on the nature of the sale.

What fees are buyers expected to pay?

Buyers are required to pay the following:

  • Legal fees: Approximately 2% of the purchase price + 15% VAT
  • Stamp duty: Approximately 1% of the purchase price. (50,000/150 X1.50)
  • Alien Landholding License: 10% for non-nationals
  • Land Surveyor’s fee: 0.5% of value of land
  • Additional fees & incidentals: US$ 600

What is involved in the purchase of property by a Non-national?

If a non-national (including non-nationals within CSME) is interested in purchasing property in the State of Grenada, an application for an Alien Land Holding License must be submitted to the Permanent Secretary in the Prime Minister’s Office. The application should be accompanied by two (2) references, a bank statement, police record and a copy of the property’s plan. In the case of a non-resident company, Certificates of Good Standing and Incorporation are needed. Government takes about 3 months to process the application. A non- national once granted permission to purchase land would be required to pay an Alien Land Holding License fee which is 10% of property market value. If the Buyer is seeking a mortgage, he/she might be required to pay a higher deposit.

 

What is the role of Roberts Caribbean in the sale process?

Roberts Caribbean has made a commitment to support both the Seller and Buyer each step of the way. We follow up regularly with all parties, including lawyers and financial institution to ensure a smooth and efficient transfer of title.

What does “Sale Pending” mean?

When a buyer and seller sign an Agreement of Sale, and the deposit is paid, the property is generally not advertised further to any new prospects. However, it also means that all of the requirements for the sale have not yet been met, and the sale is not yet finalized.

What are the benefits in choosing Roberts Caribbean to find a property?

  • We love people at Roberts Caribbean, and desires that they live their BEST LIFE NOW!
  • We have an excellent knowledge of the Grenadian real estate market and our beautiful islands of Carriacou and Petite Martinique.
  • Access to a wide range of listed Properties
  • We work fast and efficient until your ideal property is found
  • Our team is friendly and easy to work with
  • We respond promptly to your inquiries via email, telephone or other means

 

If I am an investor, and require an Environmental Impact Assessment (EIA) as part of my application to the Physical Planning Unit to develop the property, can you help?

We are your best choice. Roberts Caribbean also has a full service Environmental and Development Consulting Division. Our team of environmental and social scientists has a combined experience of more than 75 years. We have an excellent reputation in the environmental management field in Grenada and throughout the Caribbean, with wide-ranging experience in the conduct of EIAs and other environmental studies. We get the job done well the first time at the most competitive price. Ask us for a quotation

As a buyer, do I pay the Real Estate a commission?

No, the commission is paid by the Seller.

What would be the annual property tax?

Commercial: Land 0.005 and Building 0.003 Residential: Land 0.001 and Building 0.0015 Agriculture: 0

Selling Home, Land, Commercial or other property

What do I need to sell my property?

At Roberts Caribbean, we require a copy of the title Deed and Plan for the property to validate ownership. This document can be delivered to our Bruce Street Office or a scanned copy sent via email to robertscaribbean@gmail.com. This document is used to prepare the listing agreement between the Seller and Roberts Caribbean. We also require a valid picture ID of all Sellers.

Why should I use a Roberts Caribbean Agent to sell my property?

At Roberts Caribbean:

  • We have an extensive database of buyers who can easily and quickly connect to your property;
  • Ability to reach a significantly larger number of persons looking to purchase property, increasing the likelihood of a sale
  • We handle all buyer calls, showings and inquiries about the property. This takes away the hassle, stress and cost from the seller
  • We use of a variety of effective strategies to market each property
  • We maintain ongoing communication with our sellers to share progress of the sale

 

Do I have to pay to have my property Marketed?

Generally, the Seller does not pay to market the property. All costs are absorbed by Roberts Caribbean. However, if the property is considered to benefit from special international marketing, Roberts Caribbean may request a marketing budget from the Seller to increase the potential for a sale.

What is my role in the selling process?

No one has a more important role in the selling process than you. It’s advisable that the Seller

  • Maintains the property in optimal condition
  • Do not overprice the property; it will take a much longer time to sell;
  • Ensures that the property is easily accessible for showings by Roberts Caribbean Real Estate Agents;
  • Inform your Real Estate Agent if there are any changes regarding the property, example change of selling price

How do I determine the selling price of my property?

Price varies for each property based on location, condition, and type of property and market dynamics. It is always advisable to have a professional valuation of the property undertaken. For this we can provide a list of reputable valuators to our Sellers.

What fees and taxes do I have to pay as a Seller?

  • Property Transfer Tax of 5% of the market value for nationals and members of CSME countries and 15% for non-nationals. Government allows an exemption of the first  EC$ 20,000 on the property.
  • 5% Commission to your Real Estate Agent (+15% VAT if applicable)
  • Additional fees & incidentals: US$ 250