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	<title>International Property Buying Process &#187; Bahamas, the</title>
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	<description>Real Estate Registration Process in Over 200 Countries</description>
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		<title>Process of Registering and Buying Property in Bahamas, The</title>
		<link>http://www.buying-process.com/buying-property-in-bahamas-the/process-of-registering-and-buying-property-in-bahamas-the/</link>
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		<pubDate>Fri, 14 Nov 2008 07:32:42 +0000</pubDate>
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				<category><![CDATA[Bahamas, the]]></category>
		<category><![CDATA[Bahamas]]></category>
		<category><![CDATA[buyers' guide Bahamas]]></category>
		<category><![CDATA[buying property in Bahamas]]></category>
		<category><![CDATA[buying real estate in Bahamas]]></category>
		<category><![CDATA[registering property in Bahamas]]></category>
		<category><![CDATA[the]]></category>
		<category><![CDATA[the property law]]></category>
		<category><![CDATA[the real estate law]]></category>

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		<description><![CDATA[Step 1: Notarization of affidavits of witnesses to signatures of conveyance
Completion Time Frame: 1 day
Completion Costs: B$30-B$50
Points to Note:

Step 2: Lawyer or his clerk checks for encumbrances at the Registry of records (regarding any mortgages on the property).
Completion Time Frame: 1 &#8211; 2 months (simultaneous with Procedures 3, 4, and 5)
Completion Costs: 2.5% of property [...]]]></description>
			<content:encoded><![CDATA[<h3>Step 1: Notarization of affidavits of witnesses to signatures of conveyance</h3>
<p><strong>Completion Time Frame:</strong> 1 day<br />
<strong>Completion Costs:</strong> B$30-B$50<br />
<strong>Points to Note:</strong></p>
<hr />
<h3>Step 2: Lawyer or his clerk checks for encumbrances at the Registry of records (regarding any mortgages on the property).</h3>
<p><strong>Completion Time Frame:</strong> 1 &#8211; 2 months (simultaneous with Procedures 3, 4, and 5)<br />
<strong>Completion Costs:</strong> 2.5% of property value<br />
<strong>Points to Note:</strong></p>
<hr />
<h3>Step 3: Lawyer checks for encumbrances at the Supreme Court</h3>
<p><strong>Completion Time Frame:</strong> 1 day (simultaneous with Procedures 2, 4 and 5)<br />
<strong>Completion Costs:</strong> no cost<br />
<strong>Points to Note:</strong></p>
<hr />
<h3>Step 4: Lawyer checks for other companies using the same property at the Company Registrar.</h3>
<p><strong>Completion Time Frame</strong>: 1 day (simultaneous with Procedures 2,3 and 5)<br />
<strong>Completion Costs:</strong> no cost<br />
<strong>Points to Note:</strong></p>
<hr />
<h3>Step 5: Real property tax status enquiry with the Valuation office of the Ministry of Finance.</h3>
<p><strong>Completion Time Frame:</strong> 1 day (simultaneous with Step 2, 3, and 4)<br />
<strong>Completion Costs:</strong> no cost<br />
<strong>Points to Note:</strong><br />
In addition to this procedure, the buyer&#8217;s lawyer might also chose to make an inquiry with utility companies (water, electricity and phone/cable). Such inquiry could be conducted within 2 weeks.</p>
<hr />
<h3>Step 6: Payment of Stamp Duty</h3>
<p><strong>Completion Time Frame:</strong> 1 day<br />
<strong>Completion Costs:</strong> 10% of property value<br />
<strong>Points to Note:</strong></p>
<hr />
<h3>Step 7: Lodge the conveyance for recording at registry of records</h3>
<p><strong>Completion Time Frame:</strong> 1 day<br />
<strong>Completion Costs:</strong> B$4.5 per page<br />
<strong>Points to Note:</strong></p>
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