Purchasing Property in St. Barthélemy
Who Can Purchase on the island of St Barthélemy?
Nearly any person or entity can purchase on the island. It is not a requirement to be a resident of St. Barthélemy or France.
St. Barthélemy is a small luxury niche market and often times locating the ideal property will require patience. If you do not find exactly what you are looking for in our current inventory we encourage you to contact us to discuss your needs. St Barth Properties Sotheby's International Realty can be hired by way of a "Mandat de reserche" ("research contract" or what many refer to as a "buyers broker"), with the specific mission to locate exactly what you seek. Through years of experience and a vast network of local relationships we have the inside track on potential opportunities available to buyers prepared to purchase. We are compensated only when we have located and negotiated a successful transaction on the clients behalf. Contact Us today to learn if this option is right for you.
The process of purchasing in St. Barth will begin with the assistance of your St. Barth Properties Sotheby's International professional. When the correct property is identified, the first step will be the submission of an offer to purchase. This is generally a one page document outlining the price and any specific conditions the purchaser may have. Upon acceptance and signature by the seller, a Notaire is instructed to draft a formal purchase & sale agreement on behalf of both parties with complete terms including an agreed upon closing date. A Notaire (not to be confused with a Notary Public in the USA) is a lawyer specializing in real estate matters and who possesses the power to clear title and register the deed. At the time of the signature of the purchase & sale agreement the buyer will typically deposit 10% of the sale price into the escrow account of the Notaire and this amount will be deducted from the total due upon closing. A typical transaction will take 60-90 days to satisfy all requirements necessary to close.
Costs associated with a Purchase:
In addition to the purchase price, there is a one time transfer tax and Notaire's fees which are paid by the purchaser. The exact amount due will be calculated by the Notaire and will be included in the purchase & sale agreement. It is important to note that there are NO annual real estate taxes in St. Barthélemy. The seller is typically responsible to pay the real estate agency commission and any capital gains taxes which may be due.