MAJOR COSTS WHEN DOING LAND TRANSACTIONS IN JAMAICA

1.            Agent's Commission
2.            Legal Fees
3.            Agreement
4.            Stamp Duty
5.            Transfer Tax
6.            Registration Fee

Summary of fees payable by vendor/purchaser 

Legal Fees                                           1.5 - 3.0% (+ GCT)            purchaser
                                                               1.5 - 3.0% (+ GCT)            vendor

Agreement for Sale                          0.20% (+ 16.5% GCT)       purchaser
                                                               0.20% (+ 16.5% GCT)       vendor

Real Estate Agent's Fee                   3% - 5% (+ 16.5% GCT)    vendor

Transfer Tax                                       5%                                       vendor

Stamp Duty                                        2.00%                                  purchaser
                                                              2.00%                                   vendor

Registration Fee                               0.25%                                   purchaser
                                                              0.25%                                   vendor

Total fees paid by buyer               4.23% - 5.98%

Total fees paid by seller               12.25% - 16.30%

TOTAL FEES PER TRANSACTION                          14.95% - 20.78%

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