Turks & Caicos Real Estate Buyer’s Guide

Purchasing real estate in the Turks and Caicos Islands is not much different from what you are probably accustomed, including buyers being required to provide international standards KYC (know your client) certified documentation. Bernadette Hunt, continues to be the leading selling Agent in the Turks and Caicos Islands and working with a trusted and experienced agent who can guide buyers and highlight the significant differences in the various condo developments or neighborhoods across the TCI is paramount to making the right purchase and long term investment for you and your family.

Required documentation from all real estate buyers and sellers

We encourage people to bring along the following documents with you when visiting the island if you are ready to try and purchase real estate. Having these documents with you will assist in the process especially if you find yourself wanting a property that is in high demand. All Turks and Caicos Brokers are required by law to carry out due diligence and must obtain the following documents from both buyers and sellers prior to proceeding with the listing or selling of real estate.

1. A notarized copy of your passports
2. A notarized copy of your driver’s license
3. A letter from your Bankers confirming the source of your funds and also confirming how long you have been a client of said bank.
4. A copy of your utility bill showing your home address

The next step is an introduction to an experienced Real Estate Attorney who will also require a copy of the above documents for their files and to meet with their obligations under Turks and Caicos law as they are unable to receive the 10% deposit from you until they have completed their due diligence. This deposit is generally paid under the terms of the sales contract to the seller’s attorney and is held in escrow until closing, which is usually within 30 days.

At closing, executed land transfer forms are provided by the seller to the purchaser in exchange for payment of the balance of the purchase price. Original signatures are required and signing must be witnessed and signed by a notary with his/her stamp affixed. Here’s additional information on closing costs and stamp duty rates.

With over 20 years of Turks and Caicos real estate expertise

No matter where you are purchasing real estate in the Turks and Caicos Islands there are no property taxes or capital gains taxes. Purchasing property in the Turks & Caicos Islands should be an enjoyable and exciting process and it’s been that for so many of our clients over the last twenty years. Helping people realize their dream of a place in the sun is what we enjoy. Whether it is the right choice for you depends on your objectives, expectations, and budget. If you are interested in finding out more about what’s involved in purchasing real estate in Turks and Caicos or further details on real estate-related investment opportunities, contact Bernadette Hunt +1 (649) 231-4029 or via email using the form below.