Choosing the " Right" Real Estate Professional

• Selecting the right company and real estate person can be the most important decision a buyer can make.
• At Prestigious Properties we can provide you with the most up-to date and accurate information you will need to make the right decision and at the right time.
• We offer a broad range of services from the initial consultation, prequalifying for financing to a full range of property management services. We are the one stop shop on the island and maintain the largest selection of properties in the country.
• We encourage you to search through our sales agents portfolios to find the agent that you are most comfortable with, who you can best relate to, confide in and most important “trust” to understand your needs.
• If you prefer, you may also contact our Sales and Marketing department for further assistance in choosing your real estate professional who will meet your specific needs.

Selecting and Comparing Properties

• Be as precise as you can be when describing the perfect property to your agent and try not to leave anything out.
• Be realistic when it comes to your price range and be open with discussing your financial needs. Know your maximum purchase price limit
• Always be prepared to make an offer to purchase should the perfect property be found quickly. It can be a jungle out there and properties that show well and are priced competitively can sell fast.
• If mortgage financing is required for your purchase, speak with your agent to arrange preapproval.
• Do not rush your property inspection tour so that nothing is overlooked and don’t be afraid to ask questions. If your agent doesn’t have the answers on hand, they will make every effort to get the answers for you.

Negotiating the Agreement to Purchase

• Purchasing your home is an emotional decision as well as a financial one. The sellers motives may differ from yours greatly and negotiations will require the skill of a professional.
• Outside of finding the right property for you, an agent’s number one job is facilitating the negotiating on your behalf.
• Emotions run high during this process, and there are many factors to consider before making the commitment.
• As most sellers have put forth a lot of effort in maintaining and upgrading their home they believe that they have made all the right choices. Buyers often tend to want to make changes to the home to suit their own personal needs.
• It’s important that during negotiations that any comments that a seller may find offensive be expressed privately with your agent.
• Trust in your sales agent to use their experience to help this process go as smoothly as possible and with success.

Appointing Legal Representation

• Once an agreement of terms to purchase has been met, it will be necessary to appoint a legal representative to draw up a purchase contract. This is usually an attorney on the island and there are several Law firms to choose from. Your agent will be able to assist you in choosing an attorney that best accommodates the type of transaction be it residential, land or commercial/retail space.
• Although most clients have an attorney/lawyer that they trust at home it is recommended that you choose an attorney familiar with the process in Turks & Caicos as this can save you time and money.
• There are no annual real-estate taxes on land or improvements, However there is a stamp duty applicable at the time the sale is completed. The stamp duties can vary from island to island and government incentives can be in place so it is best to ask your sales agent or attorney for the appropriate rate at the time of purchase. The normal rates can vary between 5% and 9.75% of the purchase price.

Completing the Sale and Transfer of Title

Once all the documents are completed and the balance of required funds are available for closing the transaction, the purchase and title transfer will be completed by your attorney on the date set for closing in the contract. Your attorney will be responsible for completing this on your behalf and insure that title is free and clear of any encumbrances, liens or restrictions prior to completion.

Some deed restrictions or rights of way on title to the property may run with the land and any transfer may include the transfer of these restrictions, easements or rights of way. Your attorney will inform you of these in advance and as part of the preparations for a successful closing and completion of the transaction. The buyers attorney will provide the required funds for completing your sales transaction in exchange for the transfer of title documents which will be registered by the Turks & Caicos Government to ensure the protection of your investment.