1. BUILDING COST
WHAT IS THE COST OF BUILDING IN ST. LUCIA?
Cost of construction vary depending on the type of building constructed, the location, the condition of the building site and the condition of the land (steep, or flat etc) and the quality of finishes chosen. The average cost of building per square foot for construction purposes averaged out to US100.00 per square foot in 2012.
2. THE BUYING PROCESS
WHAT IS THE PROPERTY BUYING PROCESS IN ST. LUCIA?
The first step to making a purchase of a property is to identify it. Then to negotiate a purchasing price. Once a price has been agreed a deposit of between 5% to 10% is used to secure the property and have it removed from the market.
Alien Land holders licensed is applied for and his handled by the lawyer and the real estate agent. The deposit is refundable if the Alien Land Holders License is denied which is very usual. The deposit shall be forfeited if the purchaser should not complete the purchase.
There is no standard buying process it is usually governed by an 'Agreement for Sale' which specifies the price, deposit, time-frame etc.
Application forms can be collected at the Ministry of Planning, Development and Environment. The office of the Attorney General will vet the application before it is forwarded to the office of the Prime Minister for final approval and signature.
The following documents must be submitted with the license application form:
a. Completed application form.
b. Full details of the property and land.
c. Citizenship details (Photocopy of the passport).
d. Four passport size photographs of each applicant.
e. Certification of character-report from your local police station.
f. Full set of certified fingerprints from a police station.
Sale of client’s property our fees are as follows;
(1) Property sold for under $100,000.00 our fee is seven percent (7%).
(2) Property sold for over $100,000.00 is four percent (4%).
(3) Property Management fee is eight percent (8%) of monthly rental income. Property management involves taking care of the owners property making sure rents are collected and bank in owner's bank account and that repairs are carried out on the property when need arises of which the owner will pay for. This includes taking care of the concerns of the property as they arise.
(4) Preparation of Rental Agreement $100.00
(5) Preparation of an Agreement for Sale $250.00
(6) Change of Land use for a single property $2000.00. In the event that a client wants to change the use of land from residential to say commercial then the procedure with the Development Control Authority has to be carried out and followed. We will negotiate this task for you.
3. HOW DOES ONE AQUIRE AN ALIEN LAND HOLDERS LICENSE
HOW DO I GET AN ALIEN LAND HOLDERS LICENSE?