Grenada : New Westerhall Pt., Ft. Jeudy

SOLD
 

Grenada Ocean View House 

Grenada Property Buying Information

Alien Land Holders Licence
All foreign nationals wishing to purchase property in Grenada must apply for an Aliens Land Holding Licence and upon the granting the Licence will need to pay the government 10% of the purchase price to be issued with the license.

Buyers Closing Costs
Legal Fees - Approx.   2% of the Purchase Price.
Stamp Duty - Approx.  1% of the Purchase Price.
Alien Landholders - 10% of Purchase Price.

The sellers legal fees are approximately 1% of the purchase price
Property Transfer Tax - 5% of the purchase price for nationals and 15% for non nationals.
Real Estate Commission - Normally 5% of the Purchase Price .

Property Title
The majority of property in Grenada is owned fee simple, however property in Grenada may also be held on long lease from private individuals, which are normally 99 years or the unexpired term in the case of an assignment of a lease. For practical purposes a purchaser of such a leasehold interest will enjoy all the benefits of an absolute title for the duration of the lease.

Legal Matters
The purchaser will require a registered Grenadian attorney to search the register and establish title to the property prior to the completion of sale to ensure that there are no encumbrances, charges, encroachments or other impediments to the sale.  It normally takes 2-3 months for all the legal issues to be resolved and the sale close.