Buying info

Aruba Property Buying Tips

Capital Reliance Real Estate will make your transaction easier with
the following information:

A preliminary Sale /Purchase Agreement with the owner of the property should be signed, which 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!
 
Next step:

  • A security deposit of 10 percent of the Sale / Purchase agreement will be required in most cases.
  • Pay or deposit the Security Deposit amount at 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:
  1. Copy of a valid identification card of the buyer
  2. Fill out information of sale form and personal data form
  3. Copy of the security deposit made

Notary process may will 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.

Lease Land

Other than property land you can purchase a home which is built on lease land. Lease Land is owned by the Land of Aruba and a 60 year
lease has been given. For these lease rights you pay a yearly fee. Many non-residents have bought lease land or homes situated on lease land.

Condominiums

Aruba offers many Condo projects under development which you can also buy through Capital Reliance Real Estate. Inquire about the Condo projects available with our condo specialist and we will be more than happy to assist!

Taxes

The only yearly property tax you have to pay is called land tax. This land tax is usually based on the selling price. The first USD 34,000.00 is free of tax. On the balance you pay USD 4.00 per USD 1,000.00 of value.

Closing Cost

When buying a home, the following cost will be incurred by the Buyer. These closing costs are approximately 5 to 8 percent of the selling price. The
closing costs are calculated as follows:

  • Transfer tax, (one time tax), effective January 1st, 2007, three or six percent of the selling price, depending on the value.
  • Notary fees transfer deed: two percent of the selling price
  • Notary fees mortgage deed (if applicable): one percent of the selling price.

If you have any further questions regarding buying a home, than please do not hesitate to call the Capital Reliance office for free advice, we are here to serve you!

Testimonial

This is the second time I’ve bought a house through Raymond, first time selling and I have to say he is fantastic! I was recommended to Raymond through a friend when I moved to Aruba and they put me in touch with Raymond. I have nothing but good things to say about him and recommend Capital Reliance to everyone looking for a realtor.!

About Us

Capital Reliance Real Estate Aruba, was born thanks to the entrepreneurship of two partners who have been working informally in the real estate sector for several years, this has allowed us to have and fulfill the vision of structuring a dynamic and professional company that provides most Real Estate services of excellent quality.
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