Procedures
Procedures to buy a lot in Stella Maris, Long Island, Bahamas with Long Island Estate Developers:
When you have “decided” to buy: We will draft a written ‘understanding’ (with all pertinent facts – property reference/price/payment system, etc.), for forwarding to handling law-firm.
You place a deposit of 20 % of the purchase price into the escrow account of the law-firm of Sean B. Callender & Co., Freeport, Grand Bahama, Bahamas.
Sean B. Callender & Co. drafts a Legal Agreement, for mutual signing.
You continue with your financial performances as per agreement (see below), while law-firm holds your future property title “in trust”, on your behalf/for your safety.
When purchase price is fully paid, law-firm drafts a Conveyance (“Title” / “Deed”), for mutual signing.
YOU ARE NOW THE OWNER, Congratulations!
Law-firm will register your Title with the Registry of the Bahamas
HERE AN EXAMPLE OF PAYMENT SCHEME AND POTENTIAL CASH DISCOUNT:
If you choose to pay entire price one-time, deduct 5 % of total price
If you pay over time:
Beyond deposit, pay 20 % of purchase price four more times, within every following 180 day period
If with any 20 %-installment you decide to ‘pay up’ the entire then pending balance, deduct 5 % of the balance, which follows that installment