2/2 Condo in Old Bahama Bay
at
Ginn sur Mer on The Grand Bahama Island
List price: $1,250,000
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Incentives included with this lot are as follows:
- Full Membership transfer at no charge. Membership is set at $50,000.
- A 2 Year exemption of membership dues, to start when dues are instituted. Dues will most likely be instituted after a core of amenities is established. Estimated time is 2 years. Dues will be $7,500 annually.
- Transfer Tax will fall under the agreement that Ginn® has with the government. Transfer tax is currently 4%.
- There is no build time established with this lot, and there will not be a build time established with the transfer of my deed.
- Association fees will not be implemented until there are roads, sewers and basic services. Dues will be $4,620 annually.
Total value of incentives package exceeds $200,000!
Financing
Standard financing for real estate in the Bahamas is at 50% of the acquisition price. The three main banks that lend in the Bahamas are First Caribbean Bank, Royal Bank of Canada and Scotia Bank. Rates tend to be around prime plus 1. Additional private lending institutions, or Wealth Management services, in the United States will loan up to 100% of the acquisition price. These are pledged asset programs. At times, Seller financing can be negotiated but is a case-by-case basis.
Please contact us for more details on financing your purchase in the Bahamas.
Make sure to also check out interesting links such as The Bahamas Investor and our Offering Memorandum.
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