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Tips for Buyers

Once you have found the house or property of your choice and the financing hereof is in place, there are a couple of TIPS you, as a prospect owner, should consider.

+ Sign a preliminary Sale/Purchase Agreement with the owner of the property, which contain the basic terms and conditions to purchase the property. This will commit the owner (seller) to sell the property to you. SOLITO will prepare this agreement for its clients and is able and willing to advise others on these terms and conditions;

+ When you sign the preliminary Sale/Purchase Agreement a security deposit will be required in most of the cases. The amount may vary, but 10% of the selling price is reasonable sum;

+ Pay at or deposit the Security Deposit amount at the notary or on the notary's bank account; never to the seller or third party

+ As the buyer you have the right to appoint the notary. Please find the E-mail addresses of the notaries here in Aruba;

+ If by the time of signing of the preliminary Sale/Purchase Agreement you do not have the financing for the property yet, be sure to include a clause to this effect so that you would not lose the security deposit;

+ In case you need financial advice and/or mortgage, please contact one of the financial institutions SOLITO's Website, www.solitogroup.com, is linked to;

+ Be sure your financing is in place by the time that the official Deeds of Sale/Purchase and Transfer of Property are signed at the notary office of your choice;

+ The initial documentation required for the notary to process the Sale/Purchase Agreement are the following:

>> Copy of a valid identification card of the buyer(s);
>> Proof of address;
>> Fill out an Information of Sale form;
>> Fill out a Personal Data form;
>> Copy of the Security Deposit made.

In due course the notary will inform you if any other documentation is required;


+ Notary will take approximately 6-12 weeks to process the official documentation, preparation of the deed and signing of these;

+ Notarial charges varies. It depends on complexity of the transactions. A fair estimate is 8% of the selling price;

+ The notary will contact you or your broker for an appointment to sign the deed(s) and inform you of the amount (balance) to be paid, prior to the appointment date. It is recommended to pay this amount at least 3 (three) days prior to the signing date in available funds;

+ After this the property is yours. Congratulations!!!

It is very important that you have a good Real Estate company to assist you to buy your property in Aruba. SOLITO Trust & Management NV. Real Estate Division is able and willing to assist you.

“We make no promises, but care about our clients”



 


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