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Barbados – Finding Property to Buy

Popular Estate Agents in Barbados

Some of the top real estate agencies in Barbados include:

Qualifications and Licences in Barbados

Real estate agents in Barbados must register with the Barbados Estate Agents and Valuers Association (BEAVA) to practice legally. Key requirements are:

  • Complete prescribed real estate courses.
  • Pass examinations set by the Licensing Committee.
  • Maintain professional indemnity insurance.

Agents must renew licenses annually through continuing education. Brokers have additional education requirements.

Breakdown of Estate Agent Fees in Barbados

Common real estate fees in Barbados include:

  • Commission – Typically 2.5-5% of the sale price, paid by the seller.
  • Advertising and promotion fees.
  • Appraisal and inspection costs.
  • Legal fees – Around 1.5% of purchase price.
  • Taxes – Including VAT at 17.5%.

Fees are not regulated.
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Other Resources

Some other popular property listing resources in Barbados include:

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  • Barbados Property Search – Leading property portal.
  • For sale signs – Posted on properties throughout the island.
  • Developer sales offices – Display listings from specific complexes.
  • Newspapers – Classifieds in the Daily Nation and Barbados Advocate.
  • Real estate magazines – Such as Homes Barbados.
  • Facebook groups – Barbados Real Estate For Sale is popular.

Use of a Buyer’s Agent

Using a buyer’s agent is common practice in Barbados. They must hold the same BEAVA license as listing agents. Their services are typically free for buyers, as commissions are paid by the seller after closing. Hiring a buyer’s agent provides valuable local expertise for navigating the Barbados property market.

Are There any Organisations for Foreign Property Buyers in Barbados and What are Their Full Contact Details?

Helpful organisations include:

  • Barbados Estate Agents and Valuers Association – The licensing body. Tel: (246) 426-0420.
  • Barbados Real Estate Association – Trade association. Tel: (246) 426-0420.
  • Altman Barbados – Large real estate agency with expat expertise. Tel: (246) 432-0840.
  • Bittel Lofts & Co – Law firm specializing in real estate. Tel: (246) 430-1300.

Engaging qualified professionals will ensure a smooth property buying process for

For those looking to purchase property in the paradise island of Barbados, professional guidance is key to navigating the real estate landscape successfully. Licensed Barbadian estate agents leverage invaluable local knowledge and connections to match buyers with their ideal beachside haven or countryside villa. Teaming up with a buyer’s agent and real estate attorney adds an extra layer of support through a complex transaction. Joining industry groups and expat networks helps provide market insights and peer advice. While buying property abroad involves many considerations, the rewards of owning a slice of Barbados are plentiful. With proper research and the right partners, the dream of tropical island living can become reality.

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