Depending on your borrowing power and banking relationship, buying can be a long process. Banks can take up to one month to approve a loan and then the closing process is generally 2 weeks after that (from the banks to the lawyers to the closing date to Land Registry for processing the transfer of title).
Caymanians have benefits to property purchases such as having their Stamp Duty waived if they are a first-time buyer, using up to CI$35,000 from the pension toward the purchase of the property and some banks require less of a down payment.
Talk to you bank FIRST to determine what you quality for. Remember associated closing costs can be as high as 10% of the purchase price, including the 7.5% Stamp Duty if you don’t have that waived
Determine the area you would like to be in and some other key criteria such as number of bedrooms, exact location (waterfront, large lot, etc).
One agent is really all you need. As members of CIREBA, one phone call to an agent means you have access to ALL the listings island-wide. This saves you time and allows you to build a solid relationship with the agent of your choice. At Property Pals, we give you a complete list of properties you are after and don’t stop looking for what you want until we find it.
The team at Property Pals can and will provide assistance from the minute you make a phone call expressing interest in buying until you have your utilities set up in your new home, and even after that! We make sure you are taken care of in good old Caymanian fashion.
Buying land? The process above is the same but we can put you in touch with reputable builders if you are looking at developing your land right away.
We go way beyond the usual marketing procedures, but we value their merit. Site signage, e-marketing and great photos are all key to getting your property showcased in the proper way. We have a huge database of local and international clients that we sent regular emails to, a large following on all social media outlets and personal connection with our vendors. We realize you can list with any agent on the island so when you list with Property Pals, we value that you chose us and won’t let you down. We cannot guarantee we will sell your property but we will give it all we have and do our very best for you.
Buyers are more discerning than ever and the world is driven by the consumer…of course! To get the market edge, we visit your property, determine pricing based on market analysis and conditions and your need to sell. Then we take it a step further by:
Offering ideas on how to make your property look its best.
Provide staging and input to create a great marketing and photo package for purchasers
Within 1 day of signing the listing, the property is upload to CIREBA and on all our media outlets
Constant updates are sent to you so you are kept updated at all times. Including real estate activity in the area so you know the latest information affecting your property.
We are not the biggest real estate company in Cayman and we are okay with that. We are more about building a solid reputation, helping our friends, clients and customers and making people truly enjoy working/vacationing/living in The Cayman Islands as much as we do is our top priority. Whether you were born and raised here or came and fell in love, we want to work with you to make your real estate experience a truly Caymanian one: easy, friendly and memorable!