Selling Made Simple

When selling a property it is important to have all the information at hand to make the right decisions for a fair and profitable sale.  This information is intended as a basic guide; we recommend that you consult an attorney regarding all legal matters.

Important Facts You Should Know:

  • All sales of residential and commercial property are subject to a transfer tax (10% in the case of non St. Lucians and approximately 5% for citizens and permanent residents) as well as approximately 2% stamp duty. This applies to non-nationals as well as citizens and permanent residents.
  • The 1st EC$50,000.00 is exempt from transfer tax.
  • Property passes by conveyance of title as evidenced by the recording of deeds and certified survey plans at the registry of title and the issue of a land register in the name of the purchaser.  The land register document is proof of title.
  • Attorney’s fees are approximately 3% to 5% of the sale price of the property, which includes the application for the Alien’s Landholding License. 
  • The buyer is responsible for paying the stamp duty on the Deed of Sale and all registration fees.
  • The seller is responsible for paying the Vendor’s Tax, sales commissions and survey costs.
  • Both buyer and seller are responsible for their own attorney’s fees
  • A 10% deposit is required for payment when signing the purchase agreement.  This is a binding contract.  The seller’s attorney holds the deposit with the balance payable upon completion of the sale.
  • The real estate agent’s commission is generally 5% of the purchase price.
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