• Your first step is to set a budget, identify your saved up capital (deposit and closing cost plus the amount of money that you can afford to borrow. Your Jamaica National Building Society credit officer will be able to give you a good estimate of this.

  • Examine the mortgage arrangements that would best suit you. Get prequalified for a mortgage; this will significantly strengthen your offer when you find the perfect home.

  • Get details of all expenses associated with home purchase. These include (stamp duty, legal fees, application fee, cost for surveyor's Identification report and a number of other lesser charges).

  • Contact your GM RealtyAgent, who will help you to find that perfect home.
  • Your GM Realty Agent will arrange the viewing of all properties within the upper and lower range of your budget.
  • When you have found that perfect home, your GM Realty agent will assist you with makeing an offer and negotiate the best possible price, this might include counter offers and more offers!

  • Once your offer has been accepted, your lawyer will negotiate the sale agreement to ensure that your rights are protected.
  • Make arrangements for inspection of the property (Surveyor’s ID Report, Valuation, Engineer, Pest Control etc!)
  • Secure the final loan approval from your lending institution.
  • There will be a lot of back and forth between you, your GM Realty Agent, your Lawyer, the Vendors Lawyer, your Mortgage institution and the Vendor. All of which should be kept to a minimal.

  • You should do a final walk through of the house armed with you Surveyors report, your Engineer report and your pest control report etc!

  • Final closing and settlement should follow shortly thereafter.
  • Formal handing over will follow, after which you are ready to move into your new home and enjoy!
 
Time Lines to be mindful of...
 
Cash sale............................................................. Forty five to Sixty days
Mortgage from financial Intuition......................Ninety to One Twenty days