Insider Tips on Selling Property in The Bahamas From Listing to Closing

Selling a home on your own can be a challenging journey. The allure of moving to The Bahamas is undeniable and has prompted many people, especially Canadians, Americans and Europeans, to buy vacation houses or second homes in this sunny paradise. 

The Bahamas' real estate market has witnessed significant shifts, especially during the past few years, thanks to global exposure. To help you navigate this dynamic landscape, we're here to share the insider secrets of expert property selling. 

From market analysis to the advantages of engaging professionals, we’ll share insider tips for selling property in The Bahamas that you won't find anywhere else.

Real Estate Market Condition for Sellers (2023/2024)

The Bahamas' real estate market is hot, teeming with attractive opportunities for sellers. While it may not be as scorching as it was a year ago, the market still favours those who decide to sell their properties. 

The key to understanding this unique market lies in the ever-present low inventory. This scarcity compels buyers who are truly committed to buying a property in The Bahamas. When you're faced with limited options and a firm desire to turn your Bahamian dream into reality, you're more likely to take the plunge.

For sellers, particularly in Nassau and rapidly developing family islands, this presents a remarkable advantage. Properties along the ocean or with ocean views are perennially sought after and gated communities and developments, known for their security and amenities, continue to attract buyers. 

While Nassau boasts the most amenities and options, the high demand, low inventory, and higher prices drive real estate investors and native Bahamians to explore other islands too. 

Overall, this translates to a resilient market with steady demand, ensuring that property values remain reasonable. While the market may not be that hot, it’s nowhere near cooling— it still maintains its seller-friendly nature, making The Bahamas a compelling destination for property investment.

Expert Tip: Keep an eye on the Family Islands since demand is rising for quieter, affordable locations away from the bustling cityscape of Nassau/New Providence. Valuable opportunities may await your property investments there, especially with exciting projects like Jack’s Bay in Eleuthera on the horizon.

Selling Yourself Vs. Engaging Experts

Selling Bahamas property on your own can be an enticing idea, but it comes with a set of challenges. 

You'll be responsible for every aspect, from getting an accurate property evaluation to creating marketing materials, arranging open houses, negotiating with prospective buyers, and handling all the paperwork. This process can be time-consuming and overwhelming and may lead to costly mistakes if you're not experienced in the real estate market.

To streamline and simplify the process, it's often better to engage experts. 

A reputable real estate brokerage like ERA Dupuch Real Estate can provide invaluable guidance and support. With their years of experience, knowledge of The Bahamas' market conditions, and a broad network, they can help you position your property effectively, find the right buyers, and navigate the complexities of the real estate transaction.

If you’re ready to sell your property in The Bahamas, let our experts guide you through the journey. Your property deserves the best representation!

Ready to make your selling process smoother? 

List your property with ERA Dupuch Real Estate today

1. Evaluate The Property

To sell, a property must be priced correctly. If priced too high, the home will sit on the market for an extended time, become a stale listing, and ultimately sell for a depressed price. 

Conversely, if a property is priced too low, money will be left on the table for the sellers who thought they were saving money by trying to sell their home themselves. 

So, how do we determine the market value of a home? 

At ERA Dupuch Real Estate Agency, we analyse past sales of comparable properties, explore the property condition, similarities and differences between them and the subject property, and then calculate market value. 

As agents and brokers, we have access to all the historical data courtesy of the Bahamas MLS (Multiple Listing Service), the database containing all past and active listings.

Expert Tip: Make sure you compare like with like in terms of location, size, condition and level of finish. Moreover, remain neutral while evaluating the property. Owners often add value because of their emotional investment and attachment to the property.

2. Prepare Your Property for Sale

Making specific changes and repairs can not only increase the property's value but also make it more attractive to potential buyers. This step involves assessing the property's condition and making strategic improvements. Here are a few tips from our experts:

  • Professional Staging:  Hiring a professional stager can work wonders. They know how to highlight the property's best features and create an inviting atmosphere that appeals to prospective buyers.

  • Curb Appeal:  First impressions matter. Improving your property's exterior can significantly impact a buyer's perception. You don’t need to make major changes— landscaping or a fresh coat of paint can work wonders.

  • Repairs vs. Upgrades:  A professional agent can advise you on which repairs or upgrades are worth the investment. Some improvements might be essential, while others may not provide a sufficient return on investment.

  • Declutter:  Remove personal items and declutter spaces to help buyers envision themselves living in the property.

Our experienced real estate agents will assess the property and help you determine the most effective changes to make— at no additional cost— ultimately saving you time and money while achieving better results.

3. List Your Property

You'll need essential documentation, such as property details, legal documents, and any recent inspections or appraisals, to list your property. 

Listing a property may not be as simple as it may seem. That’s why it’s best to leave it to local real estate experts like us. We use our experience and knowledge to work with you and create an enticing listing that captures the essence of your property. 

We also leverage our network to market your property strategically, ensuring it reaches the right audience. Here’s how you can make sure your listing stands out:

  • Professional Photography:  High-quality images are essential for an online listing, so consider hiring a professional photographer— they can make your property look its best.

  • Compelling Descriptions:  Craft engaging property descriptions that highlight unique features and appeal to potential buyers. Consider sprinkling in descriptive buzzwords like luxurious, airy, elegant, open, stunning, picturesque, pristine, etc.

  • Use Keywords:  These are the words people typically use to search for similar properties. Using them in your descriptions will improve the chances of your property appearing in search results.

  • Online Exposure:  Leveraging online platforms and networks is crucial in today's real estate market. Agents can ensure your listing is featured on global listing portals to maximise exposure.

All properties listed with ERA Dupuch Real Estate are also listed with Bahamas Multiple Listing Service (MLS), which is fed to all participating brokerages, dramatically increasing the visibility of your property. Bahamas MLS listings also go automatically to, and a host of other sites getting maximum international exposure.

List your property with ERA Dupuch Real Estate today

4. Optimise Your Listing and Marketing Strategy

Once your property is listed, you will need to market it to attract the right buyers. Your real estate agent will use their network to spread the word, but don't underestimate your connections. 

Share your property with friends and acquaintances; you never know who might connect you with a potential home buyer.

Similarly, mention your property to friends, family, and colleagues. Word of mouth is a potent tool that can lead to unexpected connections. It can take anywhere from a few weeks if priced correctly to a year or even longer if the listing isn’t priced correctly, to sell a property in The Bahamas.

To make your property eye-catching, you could include…

  • Aerial Footage:  Utilise drone footage to share stunning aerial views of your property and its surroundings with potential buyers to get a clear view of your house and the neighbourhood.

  • Virtual Reality (VR) or 3D Tours:  These immersive experiences allow potential buyers to explore your home virtually. They can walk through your property to better comprehend the layout and flow.

Once your property garners enough interest, consider hosting an open house. You should discuss with your agent whether your property will benefit from an open house, how to prepare for it, and how to host it.

Footprints, Treasure Cay, Abaco, Bahamas

5. Negotiate and Close The Deal

After attracting potential buyers, the next crucial phase is negotiating and finalising the transaction. This stage involves securing a purchaser, negotiating terms, handling paperwork, and addressing legalities. 

It's essential to be precise in these activities to ensure a smooth closing process. Here’s what our expert brokers suggest for a successful deal:

  • Secure a Purchaser:  Let your real estate agent vet potential buyers to ensure their financial readiness and commitment to the purchase.

  • Negotiate:  Professional agents are skilled negotiators, and they can get you the best deal by helping you navigate financial transactions and contractual details.

You will need to hire an attorney to handle the legal aspects of the transaction. This includes document review, title searches, and ensuring compliance with Bahamian real estate laws.

Closing Costs

Closing costs are often paid at the end of the transaction, so having a clear understanding of these expenses is essential for a successful and hassle-free conclusion to your real estate journey. Closing costs usually include the following:

  • Value Added Tax:  The Bahamas Government VAT is a graduated tax payable on the conveyance of all real property in The Bahamas. The rate varies based on the property's value, starting from 2.5% for properties under $100,000 up to 10% for properties over $1 million. Sellers pay half the VAT tax. 

  • Real Estate Commission:  BREA-mandated minimum commission is 6% on developed property, 10% on undeveloped land. There is 10% VAT on the fee. The seller typically pays the real estate fee in a standard gross transaction.

  • Legal Fees:  Legal fees in The Bahamas are typically 2.5% of the selling price of the property per side. These fees are also subject to 10% VAT. Buyers are responsible for their own legal fees only. Sellers pay their own.

It’s best not to navigate these crucial steps alone; enlist the help of our professional team from start to finish to conclude the sale without any hassle.

Selling your home in The Bahamas is profitable but can be a cumbersome process if you’re not adept in Bahamian real estate matters. We hope that our insider tips are helpful for you to understand the intricacies of this process. 

While it's tempting to sell your house on your own, it can get challenging. The Bahamas' real estate market is unique and engaging professionals like ERA Dupuch Real Estate can save you from expensive mistakes throughout the process.

So, don't embark on this journey alone; let our seasoned professionals ensure a smooth and successful selling experience. List your property with us and make your Bahamas real estate dreams a reality.

Posted by Helen Dupuch on
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