Purchase costs:
- Purchaser's stamp duty at 2.5%
- Non-citizen's landholder licence 3.0% (normal 5.0%)
- Legal fees will be payable at between 1% - 1.5% of the sale price
- Personal finance is available subject to approved credit reference
- A monthly charge will be made which will cover individual property insurance, central lighting, security, landscaping, switchboard, pest control, air conditioning maintenance, refuse disposal, waste water treatment, desalinated water, generated electricity, minor maintenance, private and guest parking, non occupied maid service and other services. The monthly charge is currently estimated to be less than US$ 60 cents per sq ft per month including minimal administration costs.
- The property will be group insured with a covenant requiring that a property be re-instated to good order in the event of a claim arising. Alternative quotes will be supplied by CGM Insurance Brokers, Barbados with rates currently ranging between US$6,000 to US$10,000 per annum.
- Cover details noting the owners interest will be supplied and the pro rated premium recharged without mark up.
- Covenants forming part of the sale agreement will secure rights of access and supply for non chargeable amenities on the property (gym, tennis, beach facilities, water sports, spa, restaurants, bars and other guest facilities) and power, sanitation water and other services.
- Major property maintenance will be the responsibility of the home owner.
- A charge will be made to cover daily maid service, linen and towels when owners or their personal guests are in occupation.
- Mains electricity, water, international telephone and other services will be charged as utilised.
- The property tax charge system in Antigua is applicable and levied at graduated rates according to market value of the property assessed by valuator
Investment return:
All purchaser's have the opportunity to put their home into the hotel's rental pool. Indicitive rental forecasts are available on request.