MyNexus Closing Costs · Nexus Law Chambers, Nassau
What will it cost to buy this property?
An estimate of your closing costs at your fingertips.
$
$
VAT assessment is on the total transaction value or fair market value, whichever is greater.
$
The mortgage attracts its own tax, charged on the sum borrowed and borne by the borrower alone.
$
The new money you are borrowing, not the balance already secured. The tax is charged on the increase.
Purchaser's estimated outlay
$0.00
Enter a purchase price above.
Value the tax is charged on—
$0.00
VAT on the conveyance—
$0.00
Purchaser's share of that VAT—
$0.00
VAT on the mortgage—
$0.00
Recording at the Registry
—
$0.00
Registration — International Persons Landholding Act
Non-Bahamian purchasers
$0.00
Curative documents, if the title requires them
Not known until the title is searched
Legal feesNexus Law Chambers
Quoted upon consultation
Estimated government cost to the purchaser
$0.00
Cash required at closingYour deposit plus the costs above
$0.00
Documents to be recorded
—
Outstanding real property tax must be cleared first. A deed cannot be stamped or processed until all outstanding annual real property taxes on the property are paid up to date. Any arrears are not included in the figures above.
Title is the variable nobody can price in advance as a search can sometimes show gaps in the chain of title. Curing those defects requires further documents, and the cost of them cannot be known until the search is complete. This estimate assumes a clean title.
Non-Bahamian purchasers. A purchase by a non-Bahamian is subject to the International Persons Landholding Act. Depending on the size and nature of the property you may require a permit before completion, or registration afterwards. Raise it early rather than at closing.
First-time homeowner relief. Relief is not automatic. It must be applied for, it requires an affidavit of exemption, and it depends on the property being your first and being occupied by you as a dwelling. We can tell you on a consultation whether you will qualify.