Buying a home is one of the most important decisions of your life, so you shouldn’t take it lightly. Finding a property you love in a location you desire is challenging, which is why we’re here to guide you through the entire process from start to finish.
In this Buyer’s Guide, we will walk you through who we are, what the home buying process in Barbados looks like, and answer all the questions you have about where to start when looking for properties on our beautiful island.
Who We Are
We are Mai and Alicia, and we’re real estate veterans with an extensive background in working with luxury and overseas clients looking to rent and purchase in Barbados.
With over 20+ years of combined experience, we know everything about the Barbados real estate market and provide our clients with expert advice on buying a home in Barbados.
We are known for compassion, kindness, and a swift work ethic that allows us to consistently get results for our clients.
Inspired By The Caribbean is a full-service real estate agency where unparalleled personalisation and expertise go hand-in-hand. Our dynamic duo leadership team provides an unmatched customer experience and additional services like property management, concierge, and virtual tours.
Unlike other agents, we showcase homes inside and outside our portfolio as your Exclusive Agent. Our team arranges all the viewings and can introduce you to lawyers, inspectors, and valuers if need be. Working with one agent allows us to build a meaningful relationship and simplify the registration and home buying process.
Our goal is to make the buying process as seamless as possible for our clients, which is why we’ve created a step-by-step guide on what the home buying process looks like from start to finish.
- Pre-approval / Cash buyer
Getting pre-approved for an international mortgage is the first step in the process. We can easily send you all the information about what is required for pre-approval, while cash buyers only need their bank to confirm their financial standing to ensure they can purchase a property at a particular price point.
If you’re a cash buyer, we will require proof of funds/source of funds. Then we can start!
- Start looking
Once we know your wants and needs, we will send you a list of homes in and out of our portfolio. Then we’ll narrow down your selection to work towards finding THE ONE.
- Making an offer
We’ll work with you to create an offer that makes sense and that you’re comfortable with.
- Making a deal
The seller may make one or a few counter offers, so we will work together to negotiate on your behalf to get you the best deal possible. Then you’ll get an offer and acceptance letter once a figure is agreed upon.
Once the letter is signed, you’ll be required to put a 10% deposit down within 2-4 weeks which places the funds in escrow by your attorney.
- Final payment
The balance of the remaining 90% is settled within 3-6 months. If your property is a new build, stage payments will be applicable.
Congrats! You’re ready to move into your beautiful new home. If you plan on renting the home out instead of making it your primary residence, let us know so we can help you through that process as well.
Ready to Buy?
If you think you’re ready to start the home buying process, get in touch with us to get the ball rolling and we will be happy to assist!
Review our full Seller’s Guide by clicking the image below: