Useful Information

About Barbados

Barbados is the best place in the world to live, work and play. For more information about Barbados check out these links:

Payment Terms

If borrowing money and buying our package

  • 10%    deposit on the signing of the Contract;
  • 90%    on Practical Completion
  • With this method of payment the potential owner eliminates all Bridging Finance and lessening any interest fees to a bare minimum.

If building on your land

  • 10%    deposit on the signing of the Contract;
  • 20%    when the floor slab is in place;
  • 15%    when the ring beam is in place;
  • 20%    when the roof is in place;
  • 25%    when the windows and external doors
  • 10%    on Practical Completion.

Steps for buying a house

If buying cash

  • Establish what you want to spend on a property
  • Allow for legal fees of approximately 2% on the land cost only
  • Consider any finishes which may not be included in the price that you may need
  • Select your Lot and a Plan that fits within your budget
  • Pay down $2,500.00 non refundable deposit (so we can take the lot off the market)
  • We provide you with an Offer Letter setting out our proposal
  • You return the Offer Letter signed in acceptance
  • We prepare the Contract document for your perusal and signature on which you pay in the 10% Deposit.

If you are using a financial institution

  • Determine if doing the purchase alone or with a spouse
  • Contact your financial institution about how much you  qualify for.
  • Allow for legal fees on the mortgage and on the land purchase of approximately 2%
  • Consider any finishes which may not be included in the price that you may need
  • Select your Lot and a Plan that fits within your budget
  • Pay down $2,500.00 non refundable deposit (so we can take the lot off the market)
  • We provide you with and Offer Letter setting out our proposal
  • Your Offer Letter is taken to the financial institution……
  • They will issue you with a Letter of Commitment, this would indicate how much and on what terms they are prepared to lend you.  Always negotiate the best deal for yourself
  • You return the Offer Letter to us signed in acceptance.
  • We prepare the Contract document for your perusal and signature on which you pay in the 10% Deposit
  • If the Loan is 100%, the 10% deposit will come from the institution. You must follow them up closely.
  • We then request the balance of the funds/90% on completion of the home.  You are then handed the keys to your new home