Things You need to know when looking for Bahama Properties

Is local financing available to non-residents?

Yes, but the lending company might only be giving United States dollars at international rates and down payments are typically 40% of the property value.  

Bahama Properties

What taxes can I expect to pay?

The Bahamas has no income taxes, no capital gains taxes, no inheritance taxes and no sales taxes (except for those levied under the government Stamp Act for property conveyances).  The government of The Bahamas receives most of its revenue from customs duties on all goods imported into the country, which include 7% on lumber and computer-related goods, 75% on luxury cars, 160% on raw tobacco products and 210% on cigarettes.  With the additional 7% stamp duty charged on each of these imported goods, the typical customs duty charges total around 35%.

Property Taxes

The taxable value of property in The Bahamas is based on the most recent sales price.  With respect to undeveloped land, the property owner is responsible for reporting the value of any improvements made.  If you have annual homeowners permit, you may consider the property owner occupied as your primary residence.

Taxes on owner occupied properties:

  • The first $250,000 is exempt from taxation;
  • $250,000 to $500,000 – tax rate is 0.75%
  • More than $500,000 – tax rate is 1%
  • Maximum amount of annual tax is $50,000

Taxes on vacant land owned by non-Bahamians:

  • On the first $7,000 of property’s market value — $100
  • On $7,000 to $100,000 of property’s market value – 1.5%

Taxes on other property, including commercial:

  • On the first $500,000 of property’s market value – 1%
  • On property values over $500,000 – 2%

Are there advantages for establishing permanent residency status in The Bahamas?

There are significant tax advantages for citizens from other countries that impose high personal and corporate income taxes, as well as inheritance taxes.  The savings vary depending on the country in which citizenship is established and the laws applied there.

Can I become a citizen of The Bahamas?

Citizenship in The Bahamas is possible, although it is a long and drawn out process.  Favor is usually given to long-term residents and spouses of current residents of The Bahamas.

Is financing available?

Most major banks and life insurance companies offer mortgages with terms up to 25 years with as little as 10% down payment for properties valued up to approximately $100,000.

Have recent changes affected the tax haven status of The Bahamas?

The market in The Bahamas is affected more by the stock market in the United States and economic conditions internationally than by any changes made in its own banking laws.  Recent changes in banking laws that affect financial reporting and compliance have caused some customers that are not willing to comply with the new laws to take their business elsewhere, although there are now very few places in the world where the wealthy can go to avoid paying taxes!

 

Commercial Real Estate Information To Help You Succeed

If you want to enter the commercial real estate market, have some idea about what type of commercial property you are considering. You can lose a lot of money if you make an ill-advised choice in commercial real estate property. The advice in this article will assist you how to make the purchase of commercial real estate.

Prior to making a large investment on a property, look at the local income, unemployment rates, and how much hiring and firing nearby businesses are doing. If the building is near certain specific buildings, employment centers, universities, or large companies, you might be able to sell it faster and for more money.

You can’t be too informed about the subject, so never stop looking for ways to obtain more information!

Location is just as important factor in choosing a commercial real estate as it is with residential properties. Think about the community a property is located in.Look at similar neighborhoods to determine the likely growth of areas that are similar. You want to know that the area will still be decent and growing a decade from now.

You might have to spend a lot of time on your new investment at first. It will take time to find an opportunity that is profitable, and afterwards, it may need repairs or remodeling. Don’t give up just because the process that gobbles up large portions of your time. The rewards will be much greater at a later time.

Make sure the property you have sufficient utility to access to utilities. Every business has unique requirements, but at a minimum, electric, sewer and water services.

You have to think over the neighborhood where a piece of commercial real estate is located. If the business you run caters to a lower-income demographic, then purchase in an area where there are more buyers suited to your business.

As the above information makes clear, you can successfully invest in the commercial side of real estate when you take the right approach to it. However, your success depends on research, knowledge, expertise, and just a hint of luck. Not every single person will be successful, but if you follow the above tips, your chances of success will be greatly improved.

The Best Advice On Working With Home Mortgages

The idea of taking on a home loan can be rather intimidating. It’s a smart idea to go to your bank with knowledge prior to going to the right decisions. The following article will help you down the right path when it comes to home mortgages.

Don’t spend too much as you are waiting for approval. Lenders recheck your credit in the days prior to finalizing your mortgage, and they may issue a denial if extra activity is noticed. Wait until after the loan is closed to spend a sure thing to make any major purchases.

Know what terms you want before you apply and keep your budget in line. No matter how much you love the home, if you cannot afford it, trouble is bound to ensue.

There are some government programs for first-time homebuyers.

Make sure that you collect all your financial paperwork on hand before meeting a home lender. The lender is going to need income proof, banking statements, and every other financial asset you have in document form. Being well-prepared will speed up the application process.

You might want to look into getting a consultant to help you through this process. A home loan consultant can help make sure you navigate the process. They can also make sure that you’re getting a fair deal from everyone involved in the process.

Look out for the lowest interest rate possible. Banks want you to pay a high rate whenever possible.Don’t be a victim to this. Make sure you do some comparison shop and give yourself multiple options.

Make extra monthly payments whenever possible. The additional amount will be put toward the principle.

This usually includes closing costs as well as whatever fees you are responsible for. While a lot of companies are honest about the money they collect, some may hide charges that you won’t know about until it’s too late.

If you are having problems with your mortgage, get help. Counseling is a good way to start if you are having difficultly affording the minimum amount. There are agencies that can help. These counselors offer free advice that will show you prevent a foreclosure. Call or look online for a location near you.

Try to keep your balances below 50 percent of your credit limit you’re working with. If you can get them under thirty percent, having a balance below 30 percent is even better.

Once you have secured financing for your home, you should try to pay extra towards the principal each month. This lets you repay the loan more quickly. Paying only 100 dollars a month on your loan can actually reduce how long you need to pay off the loan by 10 years.

Home mortgages are very complex. Thankfully, the information here is valuable and will help make you aware of what you need to know. Use this advice when looking for a home mortgage.

Learn More About Commerical Real Estate By Reading These Tips

The techniques in this article has helped many first-time investors like yourself turn a profit in the tough commercial real estate market.

Learning more about real estate will always benefit you, and you can never know enough.

Location is essential to the commercial real estate as it is with residential properties. Think over the neighborhood your property is located in. Compare the growth of the property’s neighborhood to similar areas. You need to be reasonably certain that the community will still be decent and growing 10 years from now.

If you are trying to choose between two desirable commercial purchases, remember that size matters. Generally, this is much like the principle of buying in bulk; the more units you buy, the more you buy the cheaper the price of each unit.

When you are choosing real estate brokers, ask them to tell you about their experience level with the type of commercial investments you are interested in. Make sure they have their own expertise in the community you are dealing in. You and this broker should be sure to enter into an agreement with that is exclusive.

You should try to understand the (NOI) Net Operating Income of your commercial property.

Many things alter the real worth of your property.

This can help you avoid headaches after the post-sale.

Have property professionally inspected before selling it.

Advertise commercial property to both locals and non-locals. Many sellers mistakenly presume that their property is only to local buyers. There are many private investors who prefer to purchase property outside of their local area if the price is right.

Conference Rooms

Have a list of goals on hand before you start searching for when it comes to commercial real estate properties. Write down what features are most important to you when you look a piece of property, such as number of conference rooms, the number of offices and conference rooms, restrooms and how much square footage.

There are differences between brokers in the commercial real estate brokers. Some agents represent tenants only, while others will serve both tenants and landlords.

Talk to a tax adviser before you buy any property. Work with your tax adviser to try and locate an area that have low taxes.

Real Estate Broker

To make sure you are working with the right real estate broker, have them describe to you what a success or a failure is.Ask them to define their methods for gathering and interpreting results. You should be on board with their strategies and strategies. You should only employ a real estate broker in order to work successfully with them.

With careful consideration and application of these tips, you have a solid foundation to build your commercial real estate investment strategy. By implementing the tips that you have read, you can enjoy success with the many wonderful commercial real estate investing opportunities that are available.

Read The Best Tips And Tricks About Real Estate Investing Your Peers Have To Offer

It’s not that easy to get into real estate if you don’t have some great information before you at first. This article will help you make decisions that you money. Read on and learn all that you can about investing before jumping in.

You should decide early on about what types of real estate you want to invest in prior to beginning your adventure. You might find flipping is just your style.

Find people that are in this business and learn from them. There are a lot of people out there that invest in real estate. There are probably many groups focusing solely on this subject. If you cannot find a location near you, there are groups online that serve the same purpose. Join and learn all that you can.

Dedicate a set quantity of time to learning what you need to know as well as running your business. You must budget your time spent on other activities in order to make more money over the long haul. Ditch the poker night or softball league that you have more time to hone your investing skills.

Stick to a niche you feel comfortable dealing with. You can have much more success by focusing your market niche. Whether you specialize in flipping homes, only working with starters, or dealing in properties that cost low in the down payment department, stick with the things you are familiar with.

There are two things to take into consideration when entering the industrial or commercial property. You don’t want to pay too much for the square footage. Do not spend too much for the business either.Both numbers should be what you to buy this property.

With all of these great tips, you’re now a step closer to getting into investing! In order to get good results, you should take the time to learn about it. If you are ready, you should start investing now to see results as soon as you can.

Avoid Home Buying Mistakes With These Tips

Many people are very interested in real estate. The popularity of purchasing real estate without losing money or falling prey to scams. It is time to begin. Here are some useful tips that you can use to get you started with your property purchases.

Real Estate

Real estate agents should contact those who they have helped buy or the anniversary of a purchase date. Hearing again will let them remember of the real estate transaction that occurred. When you are concluding your greeting, remind them you would love to be referred to friends or family, your name will be fresh in their minds and they will suggest using you.

If you are thinking about moving, go on the Internet to research the neighborhood in which the property is located. You can discover a good deal of information this way. Consider the population, population and unemployment rate of your desired location before purchasing a house there so you ensure that you will love where you live.

If you have your eye on expensive piece of commercial property, locate an trustworthy investment partner to do business with.

Even if you don’t currently have any children, if you are planning on living in the home for an extended period of time and the possibility of starting a family during those years cannot be ruled out, it is a good idea to find out if the area schools are of high quality.

Keep an open mind in regard to what you want. You might not have the financial resources to buy your dream house in your dream neighborhood, but narrowing it down to a few things you absolutely have to have can give you a lot of what you want. If you can’t find the perfect house in the perfect area, shop for one in a similar area.

A lot of Realtors have lists that contain all the important components of everything you need to do when buying a home.The checklist can help you organize everything is taken care of when it needs to be.

It’s easy to see why people find this job so appealing. It can be done in such a wide variety of ways. Start by learning more about real estate and recognizing good deals. You should follow these tips if you want to purchase a property that is right for you.

Things You Should Know Before You Buy

Purchasing a piece of real estate is a life changing step that can truly be life-changing and stressful. But, if you take the time to educate yourself about the process, purchasing a home need not be so stressful.

Be moderate in your real estate property.Many people want to be aggressive and get the best deal, and they end up losing out entirely. You should be very adamant about the things you want, but let the Realtor and lawyers have some leeway.

If you are thinking about moving, research the prospected neighborhood of the desired property online. You can discover a great deal of information about even the smallest town. Consider the population, population and unemployment rate of your desired location before purchasing a house there so you ensure that you will love where you live.

If a seller refuses your offer, there’s always room for negotiation. They may be willing to cover the price of the closing costs or make some repairs prior to you moving in.

Closing Costs

Buyers find your closing costs via adding your down payment, any points that they pay to the lender, and all real estate taxes after they are prorated. In many cases, the closing costs include additional items, such as school taxes, and anything else that is specific to that area.

Educate yourself on mortgage loan terms before you are in the market to purchase a home.

If you haggle with the seller a bit, you are sure to reach a selling price that you both feel comfortable with.

Always hire an inspector to look at any property that you wish to buy. You do not want a house that needs major renovations. This can be a serious problem if there are structural issues after you buy the inspector an extremely cost-effective and-safety conscious choice that you will be responsible for and you may have to leave your home while it is repaired.

By doing the tips stated, you could make purchasing a house easier and smoother. Having an understanding of what you can expect is only half of this battle.

Common Answers To Home Mortgage Questions

Is a mortgage something you’ve had to deal with previously had? If the answer is yes, then you know there it can be an intense situation if you don’t know anything about the subject. Continue reading this article and you up to date on the present mortgage that meets your needs.

Before you try to get a loan, study your credit report for accuracy. The new year brought tighter credit standards, so you need to clean up your credit rating as much as possible in order to qualify for the best mortgage terms.

You must have a long term work history to get a home mortgage. A majority of lenders will require two years of work history in order to approve any loan. Changing jobs can lead to mortgage denials. You never quit your job during the application process.

Know the terms before trying to apply and keep your budget in line. No matter how good the home you chose is, if it leaves you strapped, trouble is bound to ensue.

Create a financial plan and make sure that your potential mortgage is no more than 30% total of your income. Paying more than this can cause problems for you. You will be able to budget better shape when your payments are manageable.

Make sure your credit rating is the best it can be before you want to obtain a mortgage. Lenders often examine your credit history very closely to be sure that you are not a bad risk. If your credit is poor, do whatever it takes to fix it so your loan is not denied.

Don’t lose hope if your loan application that’s denied. Different lenders have their own standards for loan approvals. This is the reason why it will benefit you should shop around to many different lenders to better your chances of getting a more than one lender.

Make sure that you have all your personal financial documentation prior to meeting with a mortgage lender. Your lender will ask for a proof of income, tax returns and proof of income are needed by your lender. Being prepared well in advance will speed up the process and allow it to run much smoother.

Having an understanding of the ins and outs of a good mortgage program can benefit you. You really don’t want to lose your home or have a hard time making the payments after years of home ownership. Instead, a company that will stand behind you is the most important thing.

The Complexities Of The World Of Selling Real Estate

There are a large amount of challenges to overcome in the business of real estate is something that brings numerous hurdles and challenging situations. You want to be fearless in the process, but without the right knowledge and concepts in mind, it may be hard for you to get ahead. If you’re selling property, there’s no such thing as having too much information, and the following paragraphs have some ideas you should think about.

The most obvious barrier to a home’s sale is the difference between the asking price. Make sure you agree to a reasonable price that you and comfortable with.

Be realistic about the value you put on your home.

When you are staging your home for viewings, try to empty out the home as much as you possibly can, even if your family is still occupying the home.

Have your home’s heating and air conditioner serviced before listing a home. Buyers generally do not want to buy a home that requires an immediate large investment, like a new furnace, so if the AC and heater are fine, it can appeal to more probable buyers.

If you’re thinking about doing an interior paint job before listing your home, don’t choose a color simply because you favor it. Instead, choose traditional colors that are neutral, off-white, or eggshell.

Take any personal touches out of the stamp from your home so that buyers can envision themselves inside your house. You can do this by just simply getting rid of family pictures and other personal momentos. Buyers prefer to visualize their family in the house; this is much easier to do when your personal items are hidden from view.

Make sure all counters and appliances are clean. Also, keep floors swept, and that all bathrooms are sparkling.Make sure your children keep their rooms. Do not let dirty laundry any place where it can be seen.A clean home provides buyers more opportunity to focus more on your homes features without any distractions.

New flooring could be an expensive investment in which you won’t be able to enjoy it.Instead, thoroughly clean them and make any necessary repairs, mindful to fix up any trouble spots that might put buyers off.

Be sure your home’s roof is in good shape before listing your home. A lot of buyers because it will avoid buying a house with a bad roof. If you don’t fix this problem, then you need to offer the buyer money set aside, so that they can fix the roof after purchase of the home.

You must have patience when you deal with a real estate agent. While they may be the bearer of bad news, it is important to remember that agents have extensive experience selling properties. You will not always agree about the things they tell you, but if you follow their advice, your home will sell faster.

Don’t spray air freshener or light incense prior to a home tour. Some people can be overwhelmed or even allergic to some fragrances. These factors could even cause you lose a buyer.

No matter what your level of expertise, there is always going to be information to learn due to the changing nature of real estate. However, the tips in the above article can provide an excellent foundation to increase the power of your selling tremendously.

Home Mortgage Tips That You Can Use

Have you secured a home owner in the past? If this is the case, you probably understand that they can be intimidating if you’re not educated about them. Continue on to get you up to date on the mortgage market.

Start preparing for the home loan process of taking out a mortgage way ahead of time. Get your finances in order. You should have a healthy savings and make sure your debt level is reasonable. You will not get a loan if you wait.

Before you try to get a loan, check your credit report to make sure that there are no errors or mistakes. The past year has seen a tightening of restrictions on lending, so you need to clean up your credit rating as much as possible in order to qualify for the best mortgage terms.

Avoid spending lots of money before closing day on the mortgage. Lenders recheck your credit in the days prior to finalizing your mortgage, and may change their minds if they see too much activity. Wait until after you loan is closed to spend a lot on purchases.

Make certain your credit rating is the best it can be before you apply for a mortgage.Lenders tend to closely look at your credit report. If you have bad credit, do what you must to repair it so that you avoid having the application denied.

Think about hiring a consultant for help with your home mortgage. A consultant can help make sure you get a good deal. They will also can ensure that your terms are fair.

Educate yourself about the home’s history of any prospective property.You have to understand how your property taxes will increase over time.

If dealing with your mortgage has become difficult, seek help. Counseling is a good way to start if you are having difficultly affording the minimum amount. There are different counseling agencies nationwide that can help. These counselors who have been approved by HUD offer free advice to help you prevent your home from being foreclosed. Call or visit them online.

Figure out the mortgage type of home loan that you need.There are quite a few different types of home loans. Knowing about different loan types can help you make the type of mortgage appropriate for your situation. Speak to lenders as possible to find out what all of the available options when it comes to your loan.

After you’ve successfully gotten a mortgage on your home, work on paying extra money to principal every month. This practice allows you pay off your loan much faster. Paying as little as an additional hundred dollars a month on your loan can actually reduce the loan by 10 years.

Learn how to detect and avoid shady mortgage lenders. Don’t work with lenders that are trying to get you into signing. Never sign loan documents with unusually high interest rate is way too high. Avoid lenders that say a poor credit isn’t an issue. Don’t work with lenders who suggest lying on any applications.

Learn what all goes into getting a mortgage. There are so many strange line items when it comes to closing on a mortgage. It can be quite confusing and stressed. But, by doing some legwork, you can negotiate a lot more easily.

It pays to understand the right way to get a mortgage that works for you. You do not want to be strapped for years with a burden you can’t really afford. It is better to get a mortgage that fits your budget, so look for a company that will work with you.