RE/MAX Collection buying tips
Buying tips how to buy a house in Aruba by The RE/MAX Collection
If you consider purchasing luxury real estate in Aruba, think about RE/MAX Advantage Realty as your professional guide. Being at the top of the list in the real estate sector, we will always be at your service! The RE/MAX Collection positions our office as the luxury expert in our market and around the globe.
More Tips how when buying a house in Aruba
RE/MAX has created a unique identity, with a sophisticated look and a distinguishing brand. Our agents and resources reflect the exceptional service and treatment that luxury home buyers and sellers can expect from their real estate professional.
Our office reaches more customers. Affluent home buyers and sellers actively seek agents with specialized skills and knowledge.
The RE/MAX network extends to over 100 countries. The RE/MAX Collection connects affluent buyers and sellers around the world.
BENEFITS OF THE RE/MAX COLLECTION
High-end positioning. The RE/MAX Collection offers a distinct, sophisticated branding so their clients’ luxury properties stand out in the market.
Extensive support systems, advertising, and incredible brand recognition.
With the RE/MAX global network, your market becomes the entire world.
Non-residents:
All non-residents can buy land or a house in Aruba, following the same process as Aruban residents. Non-residents can buy a home on property land and on lease land. This is land owned by the Land of Aruba and a lease period is for 60 years.
For this long-lease a yearly fee must be paid. After the 60 years the lease period will automatically be extended with another 60 years. When the lease period is extended, it is possible that the yearly fee will increase.
The long-lease fee is collected yearly and will determined by the Directorate of Land Administration.
Most of the houses situated in Arashi, Malmok, Tierra del Sol, Topaz, Safir, Esmeralda, Ruby, Opal, Salinja Cerca and Palm Beach are built on lease land. Many non-residents have bought there and will keep buying in those areas, although the homes are built on lease land. This has to do with the locations. These areas are close to the spas, golf course, tennis courts and shopping malls. Another huge advantage is the distance to the ocean.
Buying a house in Aruba, means you have to pay land tax. This land tax is usually based on the selling price and is paid each year.
0.0% for properties with a value of AWG 120,000 or less
0.2% for properties with a value between AWG 120,000 and AWG 250,000
0.3% for properties with a value between AWG 250,000 and AWG 500,000
0.4% for properties with a value between AWG 500,000 and AWG 750,000
0.6% for properties with a value of AWG 750,000
Closing Costs
When you are considering buying a house in Aruba, it also means that there are additional costs involved besides the selling price. These additional costs - the closing costs - are approximately 5 to 8 percent depending on the selling price.
The closing costs are calculated as follows (one-time payments):
Transfer tax:
approximately 3 percent when the selling price is < AWG 250,000
approximately 6 percent when the selling price is > AWG 250,000
notary fees transfer deed: approximately 1 percent of selling price
notary fees mortgage deed: approximately 1 percent of selling price
Buying Process
RE/MAX Advantage Realty works with a preliminary Sale/Purchase Agreement, signed by the owner of the property. This agreement contains the basic terms and conditions applicable for the sale/purchase of the property. The Seller is committed to sell the property to you after signing this agreement!
A security deposit of 10 percent of the Sale and Purchase agreement will be required in most cases. The Security Deposit amount should be transferred to the notary of your choice; we can assist you if needed.
The notary may typically require the following documentation to process the sale/purchase agreements:
Copy of a valid identification card.
Information of sale form and personal data form filled in (provided by the notary)
Copy of the security deposit slip.
Notary process may take maximum 6 - 8 weeks; the charges vary depending on complexity of the transaction.
You will be contacted by the notary or your broker for an appointment to sign the deed and make final payments prior to the appointment date.
It is recommended that 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.
If you have any further questions regarding buying a home, please do not hesitate to call us for free advice at (297) 586-4900 or e-mail us at info@remaxaruba.com.