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EXAMPLE OF AN ESTIMATED STATEMENT OF ACCOUNT FOR BOTH VENDOR AND PURCHASER IN JAMAICA PROPERTY MARKET

You can use the information below as a guide when you are calculating the estimated cost to buy and sell property in Jamaica. 

Based on the Attorney-at-Law, the cost charge for sale agreement and letters of possession can be higher or lower. 

Always seek an attorney for legal guidance whenever you are ready to invest in the Jamaica’s real estate market. 

PURCHASER'S ESTIMATED STATEMENT OF ACCOUNT

Sale Description (Information)

$

$

Property Sale Price 

15,000,000.00

1/2 Stamp Duty ($5000)

          2,500.00

1/2 Registration Fee (0.5%)

         37,500.00

1/2 Cost to prepare the Sale Agreement by the Vendor’s attorney (eg: $100,000) this amount is charge by the vendor’s attorney. 

         50,000.00

PLUS GCT (16.5%)

            8,250.00

1/2 Letters of Possession, NWC & JPS  (eg: $20,000) charge by the vendor’s attorney. 

           10,000.00

PLUS GCT (16.5%)

             1,650.00

Attorney fees (3%) 

        450,000.00

PLUS GCT (16.5%)

           74,250.00

Less 10% deposit paid by Purchaser

             

1,500,000.00

Your Eligibility Mortgage Amount  (Institution Name) 

14,134,150.00

_____________________

__________________

Total Payment 

15,634,150.00

=============

15,634,150.00

===========

VENDOR'S ESTIMATED STATEMENT OF ACCOUNT

Sale Description (Information)

$

$

Property Sale Price 

$15,000,000.00

Transfer Tax (2%) 

     300,000.00

1/2 Stamp Duty ($5,000)

          2,500.00

1/2 Registration Fee (0.5%)

         37,500.00

1/2 Cost for the Sale Agreement preparation by the Vendor’s attorney (eg: $100,000) 

         50,000.00

PLUS GCT (16.5%)

            8,250.00

1/2 Letters of Possession, NWC & JPS  (eg: $20,000)

           10,000.00

PLUS GCT (16.5%)

             1,650.00

Attorney fees (3%)

        450,000.00

PLUS GCT (16.5%)

           74,250.00

Real Estate Brokerage fees (5%) 

        750,000.00

PLUS GCT (16.5%)

          123,750.00

Less Total fees

 1,807,900.00

Amount Vendor Received 

      13,192,100.00

_____________________

__________________

Total 

     15,000,000.00

=============

15,000,000.00

===========

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TOP 2 JAMAICAN REITs TO ADD TO YOUR PORTFOLIO
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