A Jamaican property transaction involves 6 categories of fees beyond the purchase price. Together they can add 10–20% to your total cost. Ferguson Law explains every figure before you commit to anything.
Paid on the transfer of the title. A 2% charge on the agreed Selling price, normally paid by the seller.
A government duty on the transfer documents. Both buyer and seller pay this at closing. Each party pays half of this amount.
A charge to the National Land Agency to register the title in the new owner's name. Both buyer and seller pay this fee. Each party pays half of this amount.
Legal fees for conveyancing — searches, agreements, compliance and completion. Both parties retain their own attorney.
A licensed valuation is required by every bank and the NHT before mortgage approval. Non-negotiable for financed purchases.
Confirms the boundaries and exact size of the lot. Required for most purchases and always recommended.
Charged by the lender for processing and approving the mortgage application. Varies by institution.
Required by most lenders as a condition of the mortgage. Covers the outstanding balance in the event of the borrower's death.
Legal fee for drafting or reviewing the Agreement for Sale — the binding contract that governs the transaction.
Miscellaneous disbursements including searches, compliance certificates, courier fees and other incidentals.
Every deal is different. Book a 20-minute consultation and Ferguson Law will walk you through the exact costs for your purchase — before you sign anything.