A Guide to Buying Property in Barbados
Barbados is known for being a first class holiday location, close the equator, it is hot and sunny all year round.
It makes a perfect place for potential overseas property buyers, looking for that dream home where they can go to relax. With its sandy beaches, all year round good weather and the host of ammenities available, it is no wonder that Barbados has become more and more popular over the last few years.
Barbados is very English in nature, with cricket being the national sport and very much part of Barbadian culture. The island also boasts some impressive restaurants, nightclubs and championship golf clubs.
The east coast is less developed than the west and offers some spectacular views.
The Barbados Property Buying Process
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The process of purchasing property in Barbados is also relatively straight forward and once an offer is accepted the buyer must pay a 10% deposit. This is held in escrow by the vendors solicitor. If the buyer pulls out, the deposit is lost so searches and checks should be done before the deposit is handed over.
Non nationals must have the entire purchase price deposited in Barbados. This can include money raised by an offshore mortgage.
» Find out more about mortgages in Barbados »
