Purchasing a Property in Jamaica? Real Estate Lawyer Jamaica Checklist !

What do I need to know when looking to buy an apartment, house or land in Jamaica?

Lindo Law is your real estate attorney in Kingston Jamaica

Lindo Law is your trusted and friendly Real Estate Lawyer in Jamaica. Our staff is competent and friendly and stand ready to assist you with your Real Estate transactions. Our aim is to empower our clients by providing them with basic and clear understanding of what is involved in their purchase transaction. Here is a quick checklist of what you will need to known when purchasing Real Estate in Jamaica, be it, an apartment in Jamaica, Land in Jamaica, House in Jamaica, Condo or Condominium in Jamaica, a villa or a hotel.

Tip #1 - Things you will need to be a successful Purchaser [ ... Real Estate Lawyer Jamaica]:

• 1. Cash/Money in the bank to complete the purchase as well as satisfy your Attorney's fees and the attendant closing costs. You will need to provide a pre-approval or pre-qualification letter to any Realtor or the Vendor that you have the required funds to complete the purchase in the case a mortgage buyers. If you are a cash buyer you will need be provide a current bank statement or a letter from your financial institution varifying that you have enough liquid funds to complete the purchase. [This is the saefuard guard all the parties concerned from wasting time with a transaction that is domed to fail from the start];

• 2. National Photographic identification such as a Drivers Licence, Passport or National Identification Card.- This is used by your Attorney and witness to verify that you are who you say you are (i.e. your identity);

• 3. Tax Payer Registration Number ("TRN") - This is mandatory for any sale or purchase and therefore the vendor(s) and the purchaser(s) will need to provide this information to the vendor's Attorney-at-Law so that this information can be provided to the Stamp Office for assessment of the transfer tax and Stamp Duty that are two of the three compulsory government costs that must be paid on every Real Estate sale/purchase transaction;

• 4. Proof of Address document. The Laws of Jamaica require the Realtor, Bank and Attorneys-at-Law doing business with any customer to carry out the requisite due diligence to Know who their clients really are. This is meant to safeguard the economy by making sure that we are all dealing with persons of good character and monies that are not derive from illicit means.

• 5. Additional information. Your Jamaican Attorney-at-Law may require additional information as a part of his obligation to safeguard against Money Laundering and Terrorism Financing.

Tip #2 - Information that you will need to provide to facilitate the drafting of the Sale Agreement and Instrument of Transfer [ ... Real Estate Lawyer Jamaica] :

• 1. Purchaser's FULL LEGAL NAME as appearing your TRN Card or TRN Letter

• 2. Purchaser's current address (proof of which should be provided)

• 3. Purchaser's Occupation

• Purchaser's Tax Registration Number (TRN) for Jamaica

Tip #3 - The third tip is a charm [... Real Estate Lawyer Jamaica].

The final tip is for you is to engage the service of a friendly and competent Attorney-at-Law can assist and guide you at every stage of your transaction. You will need to sign the Retainer or Letter of engagement that outlines your obligation to your Lawyer and your Lawyer's obligation to you throughout your transaction. This includes the Attorney's fees and his duty of confidentiality to you.

Lindo Law is always here to assist you with any question(s) you might have concerning the purchase or sale of Real Estate in Jamaica.

Lindo Law is your Jamaican Real Estate Attorney. We are here to assist you from our offices in kingston Jamaica and Saint Mary Jamaica.

*Disclaimer: The above content is for information purpose only and is not intended to constitute legal advice.