Financing Your Piece of Paradise!

Real Estate Agent with Keller Williams Lake Norman ~ Cornelius NCREC License #285201

The process of buying real estate in The Bahamas can be a daunting task.  One of the most important aspects of the real estate transaction is getting your financing in order before you begin your search.  Buyers who have pre-qualified for a loan have a much stronger negotiating position, especially if  the seller doesn't have to accept a "subject to financing" clause.  Sellers who have more confidence in their buyer's ability to close will often negotiate more on a "sure thing".

Getting started with a lender is really much easier that you might think.  Your Bahamas real estate professional should have a contact in each of the major lending institutions that he or she can refer you to. 

 Common requirements for local buyers include the following:

*Job letter verifying employment and income.

*Copy of passport and national insurance card.

*Offer to Purchase / Sale Agreement.

*An appraisal of subject property.

Common requirements for foreign buyers of Bahamas real estate include the following:

* Completed and Signed Application form for each individual borrower.

*2 Pieces of ID for each borrower (passport, driver’s license).

* For Each Applicant: One (1) Bank Reference Letter addressed to local lender from institutions with at least 2 years relationship history.

* For Each Applicant: One (1) Personal Reference Letter from Registered Attorney or Accountant addressed to local lender.

* Copy of public utility bill of your primary residence (water, phone, electricity).

* Confirmation of Income – 2years Tax Returns with Schedules.

* Completed W9 Form (For US Persons).

* Credit Bureau Report.

* Confirmation of All Assets Outlined in Application.

* Confirmation of Down Payment (3months bank statements to verify Source of Down Payment).

* Confirmation of Employment.

* Job Letter (include: Date of Hire, Position & Income).


* CPA Letter verifying length of time having owned business, Nature of Business, and Company structure/formation.

* Offer to Purchase / Sale Agreement.

* Construction estimates plans etc (Construction Financing Only).

Once you have provided these details to your local Bahamas banking institution the process of getting pre-qualified has begun!  Once your approval and amount have been granted you're ready to start the search for your very own piece of paradise!  I can help with that search, so feel free to contact me at any time during the process.  I am always happy to help you!  Contact me today at or call me at 242-424-SOLD (7653)!

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