What are the typical closing costs associated with buying property in Jamaica?
Purchaser’s Cost can vary but generally, in addition to the purchase price, the Buyer should expect to pay between 7% and 10% in closing costs.
How long does it take to close the purchase from the date of offer?
Closing period is typically 90 days but can be as much as 180 if there are extenuating circumstances.
Are there other institutions which offer financing?
Most banks will consider issuing a mortgage loan. There are also some building associations and specialized lenders to consider. For specifics you will need to contact the lending institutions directly.
Do I need a real estate agent to represent me?
It is not required that you use a real estate agent. JRF is only offering properties which are owned or controlled by our company. We do not offer listings and properties held and marketed by other owners.
If I obtain financing through JRF, will you also finance for improvements or repairs for the property?
JRF will finance the purchase price only. JRF will not advance funds for the improvement or development of a property.
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