Frequently Asked Questions
Questions about buying real estate on Aruba
Yes, foreigners are allowed to buy property in Aruba. There are no restrictions on foreign ownership of real estate.
A: The typical steps involved in buying a house in Aruba include:
- Finding a property: Browse listings or work with a purchase broker to find suitable options.
- Conducting due diligence: Verify the property’s legal status, ownership, and any restrictions.
- Making an offer: Negotiate the price and terms with the seller.
- Signing the purchase agreement: Engage a notary to draft and finalize the agreement.
- Paying taxes and fees: Fulfill the financial obligations associated with the purchase.
- Completing the transaction: Transfer the funds and officially transfer ownership.
Yes, property taxes in Aruba include the annual land tax and building tax. The rates vary based on the property value.
Yes, financing options are available for both local and foreign buyers. Local banks and financial institutions offer mortgage loans for property purchases.
While it is not mandatory, hiring a purchase broker can greatly benefit you. They have in-depth knowledge of the local market, can assist with property searches, negotiations, and provide valuable guidance throughout the buying process.
Aruba has specific zoning regulations that dictate the allowable usage of properties. It is essential to understand these regulations before purchasing a property to ensure it aligns with your intended use.
In addition to the purchase price, you should factor in costs such as notary fees, transfer taxes, closing costs, property insurance, and any potential renovation or maintenance expenses.
Yes, many property owners in Aruba choose to rent out their homes when they are not using them. However, it is important to familiarize yourself with the local rental regulations and obtain the necessary permits.
The duration of the buying process can vary depending on various factors, including property availability, negotiations, financing arrangements, and legal procedures. On average, it can take between three to six months to complete a property purchase.
There are no specific residency requirements for property buyers in Aruba. However, if you plan to become a resident of Aruba, there are separate procedures and requirements to fulfill.
Questions about selling your real estate on Aruba
Yes, foreigners are allowed to sell property in Aruba. There are no restrictions on foreign ownership of real estate. You don’t need a broker to sell it. But it is more easy.
The typical steps involved in selling a house in Aruba include:
- Setting the asking price: Determine a competitive and realistic asking price for your property.
- Preparing the property: Ensure your property is well-maintained and presentable for potential buyers.
- Marketing and advertising: Promote your property through various channels, including online listings, social media, and local real estate agencies.
- Negotiating offers: Review and negotiate offers received from potential buyers.
- Signing the sales agreement: Engage a notary to draft and finalize the sales agreement.
- Fulfilling obligations: Complete any necessary inspections, repairs, or other requirements as specified in the sales agreement.
- Transfer of ownership: Coordinate with the buyer, notary, and relevant parties to complete the transfer of ownership.
Yes, there may be taxes and fees associated with selling a house in Aruba. These may include transfer taxes, notary fees, and any outstanding property taxes or assessments.
The time it takes to sell a house in Aruba can vary depending on various factors, including market conditions, property location, pricing, and marketing efforts. On average, it can take several months to find a suitable buyer and complete the sale.
While it is not mandatory, hiring a real estate agent can be beneficial in terms of their market expertise, marketing resources, and negotiation skills. They can help you reach a wider audience of potential buyers and guide you through the selling process.
Several factors influence the asking price, including market conditions, location, size, condition, and recent comparable sales. A real estate agent can provide a comparative market analysis (CMA) to help you determine a competitive and realistic asking price.
While staging is not mandatory, it can enhance the appeal of your property to potential buyers. Proper staging can showcase the best features of your house and help buyers envision themselves living there.
It is essential to provide accurate and complete disclosures about the condition of your property to potential buyers. This includes any known defects, repairs, or issues that may affect the buyer’s decision.
Yes, it is possible to sell your house while still residing in it. However, you may need to accommodate potential buyers for showings and inspections, which might require some flexibility on your part.
Yes, you can negotiate the terms of the sale, including the purchase price, closing date, and any contingencies. Your real estate agent can assist you in negotiating with potential buyers.
Questions about "why hire (us) a purchase broker?'
A purchase broker is a licensed real estate professional who represents the buyer’s interests throughout the home buying process. Hiring a purchase broker offers several advantages, including their expertise in the local market, access to exclusive listings, negotiation skills, and unbiased advice to help you make informed decisions.
A purchase broker will listen to your requirements, preferences, and budget to identify suitable properties in Aruba. They have access to a wide range of listings, including off-market properties, and will provide guidance, arrange property viewings, and help you navigate the buying process.
While you can search for houses online, a purchase broker brings in-depth market knowledge and experience. They can save you time and effort by filtering listings based on your criteria, providing insights about neighborhoods, and guiding you through the complexities of the buying process.
Purchase brokers are skilled negotiators who will advocate for your best interests. They will analyze market data, assess the property’s value, and negotiate on your behalf to secure the best possible price and terms.
No, purchase brokers are beneficial for both first-time and experienced buyers. Regardless of your experience level, a purchase broker can provide valuable guidance, market insights, and support throughout the buying process
The cost of hiring a purchase broker varies, typically based on a percentage of the purchase price. It is important to discuss the fees and services with your chosen broker to ensure transparency and clarity.In most cases you do not have to pay the buyer’s agent because he can negotiate his own commission with the selling party.
Yes, purchase brokers are familiar with the legal requirements and paperwork involved in buying a house in Aruba. They can guide you through the necessary documentation, coordinate with a notary, and ensure a smooth transaction.
While purchase brokers are not mortgage brokers, they can provide information on financing options and refer you to reputable lenders or mortgage professionals. They can help you understand the mortgage process and connect you with relevant resources.
No, our purchase brokers have access to a wide range of properties listed by other agencies and individuals. We do not have our own listings. That is the only way to stay independent.
It’s essential to research and interview potential purchase brokers. Look for their experience, track record, local market knowledge, and client testimonials. Choose someone with whom you feel comfortable and confident in their abilities to represent your best interests. At this moment there are no other purchase brokers who are independent like we are because they are all selling own listings.
