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purchasing a lot check list

1. visit the property
  • Visit one of our communities (or have someone you trust view the lots on your behalf if you are unable)
  • Identify available lot(s) you wish to purchase.
2. FACT FILE
  • For PalmBrook Estate JMD $50,000 non-refundable processing fee.
  • For WhiteHouse Beach Club USD $1,000 non-refundable processing fee.
  • Fill out a fact file for the lot(s) you selected.
3. sale and maintenance agreement
  • A sale agreement will be sent to you or your attorney via email within seven (7) days of receipt of your completed fact file and processing fee.
  • You will have fourteen (14) days for your attorney to review the sale agreement, sign, and return along with a deposit of twenty-five percent (25%) of the cost of the lot(s).
4. CONSTRUCTION CONTRACT (WHITEHOUSE BEACH CLUB)
  • A construction contract will be sent to you and your attorney along with your sale and maintenance agreement, within seven (7) days of receipt of your completed fact file and processing fee.
  • You will have fourteen (14) days to review, sign and return the agreements.
5. Deposit
  • [[CASH TRANSACTION]] A deposit of twenty-five percent (25%) of the cost of the lot is required.
  • [[MORTGAGE]] A deposit of the difference between the cost of the lot and the loan is required. Eg. If the financing is 90% of the cost of the lot, then a deposit of 10% of the cost of the lot is required.
6. purchase completion
  • The transaction normally takes approximately ninety (90) days to complete after the deposit is made.
  • Proof of funds
    • Pre-approval Letter from Financial Institution (if you are getting financing).
    • OR
    • Hypothecation Letter from Financial Institution (for a cash purchase)
  • Valid Photo ID
  • Proof of address (A current Utility bill)
  • Tax Registration Number (TRN)