Buying a home in Jamaica is a big deal — a true milestone. But trust me, it’s not just about the house price. When the dust settles, the extras can sneak up on you. Let’s dive into some costs that you might not see coming.
1-10: Legal and Administrative Fees
Attorney’s fees (1.5%-3% of the purchase price) — Yes, lawyers need their slice of the pie too.
Stamp duty (split equally between buyer and seller, typically 4%) — Think of this as the government’s handshake.
Registration fees (0.5% of the property’s market value) — Sealing the deal ain’t cheap.
Sales agreement preparation fees — The fine print costs plenty.
Title search fees — Nobody wants surprises, like finding out your new backyard isn’t yours.
Notarization fees for documents — Your signature needs a stamp of approval.
Caveat registration (if required) — Protect your investment from shady dealings.
Administrative charges for bank processing (if obtaining a mortgage)
11-20: Mortgage-Related Costs
Deposit (5%-20% of the purchase price) — T…
