07152019 HOME BUYERS' GUIDE

H ome Buyers’ Guide The Tribune

Monday, July 15, 2019

The Bahamas Source For Homes, Condos, Apartments, Lots & Rentals

Crescent Building,

WESTERN ROAD

PAGE 2, MONDAY, JULY 15, 2019

THE TRIBUNE, HOME BUYERS’ GUIDE

www.grahamrealestate.com | Phone: (242) 356-5030 Canal Fort Home

7Bd, 7.5Bth | Colony Bay, Grand Bahama | Lot: 87,120 sq. ft. | Living Area: 14,000 sq. ft. | MLS: 33610

$6,346,789

Ref: 20489

12 Island Drive

Comfortably Numb

3Bd, 2Bth | Port New Providence Lot size: 17,040 sq. ft. | MLS: 37218

Ref: 23673

$1,295,000

Lyford Cay | Canal Front Home 4Bd, 4.5Bth | MLS: 26533

$3,450,000

Ref: 13950

408 One Ocean Place Condo

3A Caves Heights

3Bd, 3.5Bth | Paradise Island Living Area: 2,700 sq. ft.

2Bd, 2.5Bth | Building 4 Condo

Daiquiri Cottage

4Bd, 3Bth | Eastern Rd. | Oceanfront Lot size: 3.36 Acres | MLS: 32894

Ref: 19767

$2,600,000

#3603 Venetian West Condo 3Bd, 2Bth | Windsor Field Road Fully Furnished | MLS: 35012

Elizabeth On Bay Plaza & Marina Complex

Bay St. & Elizabeth Ave. | MLS 34260

Ref: 21049

Price Upon Request

Elizabeth On Bay - Unit #2

MLS: 32204 | 969 sq. ft. Lot Business Opp., Commercial Bldg.

Available July 21st, 2019

Ref: 24211

$5,500 p/m

$7,500 p/m

Ref: 24209

Lot 21 Cool Breeze

Cape Santa Maria

Single Family Lot | Tarpum, Eleuthera Lot 9,633 sq. ft.| MLS: 21519

Long Island | Lot B11 1.24 Acres | MLS: 18536

Ref: 21706

$4,200 p/m

Windermere Lot

Freeport, Grand Bahama Size: 17,000 sq. ft. | MLS: 33701

Ref: 19166

$2,600 p/m

#176 Channel Drive

Single Family Lot | South Sea Estate Size: 7,500 sq. ft. | MLS: 37937

Electricity and Telephone Lines are installed and roads are completed

$24,000

Ref: 9335

Gregory Graham President/Broker

Laura Kimble Broker

$430,000

Ref: 6595

June Russell Broker

Dolly Griffin Sales Agent

Sophia Porras Sales Agent

Ref: 20864

Greg V. Miller Sales Agent

$55,000

Kevin Bastian Sales Agent

Ref: 24523

Delerese Pratt Sales Agent

$99,000

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HOW LONG TO CLOSING?

By Mike Lightbourn

HOW long does it take for a sale to close?

This is a question oft asked, but always difficult to answer.

The best-case scenario is a 30-day closing period; however, it’s unusual to meet such a deadline, even if everything else goes according to plan.

If it’s a cash sale and the buyer already has the funds in hand, the process should be a lot quicker, barring any unforeseen hiccups.

The best way to speed up a sale is to understand what’s entailed.

Pre-Qualify for a Loan Once an offer has been accepted, a buyer who has prequalified for a loan hopefully will be able to finalise everything with the lender quicker, assuming his or her circumstances haven’t changed.

The bank should already have all the necessary information in place to formalise the process (we hope).

Know Your Client New laws require financial institutions to conduct due diligence on their clients. The borrower is required to complete forms and submit various IDs as part of their application.

Lenders (and real estate brokers) have an obligation to know their clients (KYC) to make sure they are not involved in nefarious activities as defined by various laws.

Down Payment The length of time it takes to close on a sale starts with the signing of the sales contract. Make sure you have both the down payment and the closing costs in place.

A deposit must accompany the sales contract.

Questionable Appraisal The lender is going to require a valuation on the property from an approved appraiser. The appraisal determines the

THE TRIBUNE, HOME BUYERS’ GUIDE

market value of the home.

If the appraised value is below the sales price you will probably be required to put up more cash.

Title Issues This can be a real problem, especially in some of the Family Islands.

The buyer’s lawyer establishes whether the property has good title as part of the escrow process.

It must be confirmed that the property isn’t tied up as a result of any legal issues and that no-one else has any claim against the property. Prior transactions should have been completed with all necessary documentation having been recorded at that time, for example, with affidavits showing the beneficial ownership of a company which had previously owned the property.

This can delay a closing by weeks or months if there are unexpected issues. In extreme cases, the delay can be for years.

Sale to Non-Bahamians A permit to acquire property is required by non-BahamiMike Lightbourn is president of ans obtaining an interest in land if the property comprises Coldwell Banker Lightbourn Realty more than two acres or if the intended use is not as an owner-occupied property. In this latter case, the property size is Lawyers irrelevant.

A delay may be experienced at a law This can delay the process. firm, particularly if the lawyer is up to his or her eyeballs in legal work.

Utilities All utility bills have to be paid up to date before comple- QUESTIONS OR COMMENTS? tion. The cable company will also need to be contacted, if Contact me at: info@cbbahamas.com applicable.

The Buyer or Seller Dies A terrible thing to mention, but it does happen from time to time. If it happens and a will has to be probated, it will take several months or even more. If the purchaser dies then this creates even more issues.

TO ADVERTISE CALL:

Charles Gaitor 502-2356 or Email: cgaitor@tribunemedia.net

HURRICANE Tips

During a hurricane…

• Do not go outside unless it is absolutely necessary.

When the winds get very strong, you are in danger of being hit by flying objects.

• Children should not be taken outside, since they may be in danger of being blown away.

• If the house shows signs of breaking up, stay under a table or stand in a sturdy closet.

• Be prepared for material falling from the ceiling.

• If your glass windows have not been boarded up, place a large heavy object in front of the window to protect yourself and others from splintering glass.

BE PREPARED!

The season officially BEGAN • If you are away from home, remain where you are until the hurricane has passed. Many people have lost their lives • Be calm! Your ability to act logically is important. on JUNE 1, 2019, trying to go from one place to another. and will END on • Listen to the radio for information on what is happening.

NOVEMBER 30, 2019 • Keep a hurricane lamp burning, as it may make the night more tolerable.

http://www.odpem.org.jm

Visit Us: http://www.tribune242.com

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MONDAY, JULY 15, 2019, PAGE 7

Union Wharf-CAC #505

Sunrise Development Acreage-CAC #5703 Saunders Beach Acreage-CAC #38

Doctors Creek, Long Island-CAC #2845

An Investment Opportunity in Historic Downtown Nassau. One of the last urban waterfront redevelopment sites in The Bahamas. Union Wharf Redevelopment Site is located on The Harbour minutes away from the cruise ship port, and facing The Atlantis Resort.

5.7 acres of prime commercial property located 5 minutes from the hotels & beaches of Cable Beach and West Bay Street, Fusion Superplex Theatre & Downtown Nassau.

Great development opportunity, 6 acres of prime real estate located on Southern side of West Bay Street oppositee Saunders Beach, immediate East of The Zoo restaurant & nightclub.

28.45 of prime real estate, waterfront acreage, suitable for a gated community for townhouses /condominiums or home developments. 1,000 feet from the water, with elevations of 4 feet.

$17,000,000

$6,500,000

$3,800,000

$2,100,000

Westridge Home-CAC#919

Palatial Estates-CAC #55

Sandyport Drive-CAC #1541

A beautiful 4 bedroom 3.5 bathroom house located on lot #16 West Place Drive, Westridge a very desirable, high value, well maintained neighbourhood.

The house is immediately north of the prestigious Sandyport Development. $1,300,000

A beautiful, spacious two story single family house in gated enclave of Palatial Estates on Paradise Island due East of the scenic Cloisters Gardens.

This lovely three bedroom two and a half bathroom house is one of only six (6) houses in this exclusive Enclave. $1,270,000

Located on Sandyport Drive, this colonial style two (2) This beautiful, modern 3 bedroom, 2.5 bathroom storey residence with wrap around balconies has a home is located in the serene Indigo gated commugorgous view of the marina. This unique lot is over 1/4 nity, in the Western district of New Providence. acre and has approximately 4,800 ft of living space.

RENTALS

$1,150,000

$875,000

VACANT LAND

Paradise Island Condo-CAC #3380 -This fully furnished oceanview 3 bed, 3 bath condo is beautifully decorated and offers private patio, dock slip and a beautiful view of the ocean. $8,000

Marshall Road Acreage-CAC #4375 - 2.07 Acre oceanfront vacant lot, access by the main road with oceanview. $340,000 Skyline Heights Lot-CAC #330 - In the peaceful neighborhood of Skyline, this 30,000 sq.ft lot makes for a number of possibilities. The lot is sloped, which means beautiful views of the golf course and partial ocean views. $295,000

Bayroc Condo-CAC #404 - This beautifully appointed Bayroc end unit has lots of natral light, and a large terrace overlooking the ocean that nearly spans the entire length of the unit. $5,900

Culberts Hill Lot-CAC #142 - This fantastic single family residential lot nestled in the heart of Winton, is a great investment property or perfect for building your family home. $170,000

Paradise Island Condo-CAC #3350 - This lovely serene dockside 2nd floor unit is located on beautiful Paradise Island, and features 3 bedrooms, 3 bathrooms, dining and living roomwith an open floor plan and tranquil view of the harbour. $5,500

High Point Estates -CAC #5511 - This large multi-family lot in High Point Estates is being offered complete with approved plans for a 2 unit townhouse dwelling. $155,000

Chertsey-CAC #2035 - Light and airy, this beautifully updated 2nd floor Chertsey unit invites you in with its cool and coastal flare. Ductless units provide cool efficient living, complimented by updated flooring in the bedrooms to keep the temperature ambient. $2,500

Charles Christie President

Indigo Home-CAC #1515

Cheslie Christie Vice President

Gavin Christie Managing Partner

Elizabeth Mackay Agent

Jessica Thompson Agent

Yamacraw Shore Drive-CAC #1290 - Located in the quiet area of Yamacraw Shores. The area is perfect for single family homes. Located close to beaches and schools, this lot is perfect for a family that is looking for a fresh new start. $120,000

Craig Clarke Agent

Reneika Knowles Agent

Desmond McIntosh Agent

Phillippa Newton Agent

Suzette Darville Agent

sales@cachristie.com | West Bay Street | Tel: 242-326-4800, 242-325-7960 | Fax: 242-326-5684

Chris Adderley Agent

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DEVELOPERS DIRECT COMMERCIAL LAND OFFICE LEASE HOME RENTALS RESIDENTIAL LOTS RESTAURANT SPACE

NEW RESTAURANT SPACE AVAILABLE!

MONDAY, JULY 15, 2019, PAGE 11

Jolika Buckner, Broker

13 Jacaranda Close Stunning single family home on corner lot with over 125 feet of canal frontage with boat dock and generator. Quality features include bamboo floors, stainless steel appliances and granite countertops. $6,250 per month

NEW LISTING! Now taking applications for new restaurant in the heart of Sandyport Marina Village! 2,100 sq ft with magnificent waterfront views of the Grand Canal. Floor plans and elevations available for serious inquiries.

Please contact us for more information. $7,000 per month

195 Sandyport Drive 3-bed 3.5-bath end-unit townhome with spacious living areas and lots of storage. Modern kitchen features granite counter tops and stainless steel appliances. Fenced-in garden. $4,750 per month

2 Coral Beach Spacious 4-bed 4-bath single family home with own pool, beach, dock and generator. Open plan downstairs with granite countertops, stainless steel appliances, high end ceram ic tile, and bamboo floor wood floor upstairs. Lovely patio area outside is ideal for outside entertaining. $8,000 per month

6 Coral Beach Spacious 4-bed 4-bath open plan single family home with own pool, beach, dock and generator. Quality finishes throughout, including mahogany wood floors in bedrooms, granite countertops, stainless steel appliances, high-end ceramic tile, raised wood cabinetry in the kitchen and raised ceilings and brick driveway. Lovely patio area outside is ideal for outside entertaining. $8,000 per month

www.sandyport.com

Contact: Jolika Buckner, Broker | Work: 327-2425 | Cell: 376-1662 | E-mail: jbuckner@sandyport.com

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