Eagle Beach real estate - the exotic place to buy
There are no restrictions on foreigners buying property. There are not many realtors in Aruba that represent the buyer. It would be prudent to hire a lawyer before entering into a purchase transaction, to protect your interests. The first step is to make an offer. Once the price has been agreed upon, the purchase agreement will be signed and a 10% deposit is paid within three to five days from the signing. The lawyer will then obtain data from the kadaster and from the tax department to determine if there are any unsettled and conflicting charges against the property, and to determine the leggerwaarde, i.e., the tax value of the property, which determines the stamp duty payable. This whole process takes about six to eight weeks. Note that the buyer bears all closing costs, e.g., the transfer tax and the notary costs, which have to be settled before signing the final deed. The round trip transaction costs include all costs of buying and then re-selling a property – lawyers’ fees, notaries’ fees, registration fees, taxes, agents’ fees, etc. Transfer tax: The Transfer Tax (Overdrachtsbelasting) is charged at a flat rate of 3% of the property value. Notary costs: Notary fees on the transfer deed is around 1% of the selling price. Registration tax: Registration of deeds signed by civil law notaries is mandatory in Aruba. The tax is charged at AWG5 (US$2.78) for each document submitted for registration. Agent's commission: Real estate agents usually charge 5% of the purchase price for their services, usually paid by the seller. In general, parties may freely determine the rent in a tenancy agreement. Also the increase of such rent can be freely determined. However, certain classes of real estate are subject to mandatory rules of law (Ordinance On The Rent Assessment Advisory Committee (1991), known as the “Ordinance”) as regards the determination of the applicable rent. These mandatory rules apply to houses with a building value (including the ground value) of less than AWG 100,000 (approx. US$55,000), which include residential housing, shops, bars, restaurants, hotels and offices, with the exception of buildings located in hotels, airports and seaports. According to the mandatory rules of law, the Rent Assessment Advisory Committee - known as “the Committee” - is charged with the determination of the rent and with any requests to increase such rent. The Committee will base the rent on the percentage of the buildings costs. In practice, despite these mandatory rules of law most landlords do not turn to the Committee to determine the rent. They often enter into agreements with tenants and determine the rent with mutual consent
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Eagle Beach Vacations site
Our company is running one of the largest pc and mobile travel website networks, covering top hotel, vacation package, airline ticket, beach, cruise, all inclusive and honeymoon destinations worldwide.
We will also run a travel blog portal which centralises the blogs posted by our visitors on all of our websites and which represents one of the world's best travel information resources, totally build by people such as yourself.
In the link section, you can check more links to our travel website network as well as to other third party specialized websites as lastminute.com or orbitz.com which we suggest you to visit if are you planning a trip to Eagle Beach Aruba.
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