Buyers Guide

Guide to Buying a Property in Barbados

The Barbados real estate market is very active at the moment, however there are only a few active listings for properties within the price range of BDS$200,000 to BDS$1.4 Million and below. This means that most of the properties on the market right now are going under offer even quicker!

It is best to hire a reputable and professional real estate agent that you can trust to work in your best interest. Global Estate Agency Inc. is led by Junior Sparks, a top producing and well connected realtor on the island, with over 19 years of experience representing both buyers and sellers. GEA deals in all types of properties, including standalone houses, apartments, townhouses, multi-unit blocks and commercial properties.

In this blog post, we take you through the step-by-step procedure to secure a property in Barbados, from arranging your financing to closing the deal.

Step 1 - Get your financing in place

Do you need the help arranging a mortgage or loan? Ensure you get pre-qualified with a lender before touring homes and submitting offers. Sellers don’t take offers seriously when the buyer is not already pre-qualified with a lender, and it reduce your chances of getting accepted. It is best to seek financing before submitting an offer to know whether you qualify for the price region of the offer. If you are looking for a reputable lender in Barbados, you’ll be happy to know that there are a number of them offering competitive mortgage rates to citizens and international buyers. Hiring a reputable mortgage broker can make the process of securing financing much easier.

Step 2 – Note all of your important preferences

Now that your financing is secured, the next step is to make a list of all of your preferences in the order of importance. Ensure that the list covers everything, from how many bedrooms you need, to whether the location need to be close to work or school, to the type of property you are looking for. Do you want a house or apartment? Do you want to live in an open neighbourhood or gated community? Does the covenants allow pets or for commercial vehicles to be parked on the street?

Step 3 – Understand the buying process in Barbados

A professional realtor should explain the details of the buying process to the client. You should understand the various steps like making an offer, negotiation, and getting your offer accepted. Your agent would also let you know when to get your attorney and the seller’s attorney involved. You are required to hire a locally-registered Barbados attorney to represent you throughout the legal process of the sale transaction.

Step 4 – Choosing a Real Estate Agent

Don't hire the wrong real estate agent! Do your research to ensure that you will be dealing with a professional that holds their practices to a high standard and code of ethics. One sure way to achieve this is to choose a realtor who is a member of the Barbados Estate Agents and Valuers Association (BEAVA).

Being a BEAVA member comes with multiple advantages. The realtor has access to hundreds of listings on the island, outside of their own. This is because the Association has over a hundred members, and each agent can access the properties listed by other agents. Hiring multiple agents does not necessarily increase your chances of securing an offer, but can make it a bit messy as your name/property search gets duplicated within the same pool of agents for the same listings.

Step 5 – Viewing Properties

Keep an open mind when looking at properties. Have a vision before going on each tour so that you can look past the seller’s design and furniture choices when making a decision. Simple things like furniture can easily be changed but your focus should be on the structure and layout of the property.

Step 6 – Making an Offer

After finding a property that meets all your preferences, the next step is to make an offer as soon as possible. Inform your realtor about your budget and refrain from making a low-ball offer because sellers tend to feel insulted by this kind of offer and are likely to deny your request. Your agent will keep you updated with feedbacks from the seller.

Step 7 – Signing the Offer and Acceptance Form

If the response to your offer is positive, a document called an Offer and Acceptance Form must be completed and signed by the buyer and seller. If you aren’t a cash buyer, your lender would give you the all clear on when to involve your attorney and start the legal process.

Step 8 – Time for the attorneys to start the legal process

The sale transaction can only be executed when the property is passed on by conveyance of title, evidence by the recording of the deeds and certified survey plans at the registry of title. Attorneys fees are approximately 1.5% to 2% of the sale price, and each party is responsible for their attorney fees. Note that all attorneys work by a schedule of fees that are subject to 17.5% VAT.

After executing the Offer and Acceptance Form, your agent prepares and sends out the Attorney's Instructions to the lawyers representing both parties. The Attorneys' Instructions is sent via a document called a Memorandum of Sale, containing the necessary details for the legal process.

Most property sales take approximately 3 months to close, from the date of signing the sale agreement and payment of the 10% deposit. In some cases, transactions may take longer to close due to unforeseen complications.

Be sure to ask all the necessary questions and be duly informed before signing the sale agreement or making a deposit. You should exercise due diligence in checking the property for any faults. You can take extra measures to guarantee the quality of the property, like an inspection by professionals or doing test holes if you are buying a plot of land.

Who We Are

About Global Estate Agency

If home is indeed where the heart is, then Global Estate Agency has been the brokerage pulse of the Barbados luxury real estate market since 2003.

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Why Choose Us

Global Estate Agency's Junior Sparks is the 2018 Agent of the Year | First-ever recipient of The George Ramsay Memorial Award via the Barbados Estate Agents and Valuers Association. 

Global Estate Agency's Junior Sparks makes international TV debut in the popular US reality television series, HGTV House Hunters International. Season 151, Episode 3 - Seaside Villa vs Crash Pad in Barbados. 

Global Estate Agency's Junior Sparks appears on the popular US reality television series, HGTV House Hunters International for the second time. Season 157, Episode 6 - Excess Baggage in Barbados.   

Global Estate Agency has a stronghold on market tendencies, a well-established business model, and a long list of satisfied clients.

Strong marketing mediums to get your property in front of prospects that reside in Europe, USA, Canada, China and more.

Representing sellers, buyers, landlords and renters since 2003. Real estate brokerage is simply our passion!

Over 30,000 people connected to Global Estate Agency's social media accounts, including Instagram, Facebook, TikTok, Twitter, LinkedIn and more.

Our sister company focus on only the best rental properties for expats moving to Barbados and already living on island.

New website division launched for sought after properties for sale and rent, marketed exclusively by Barbados real estate mogul Junior Sparks. When you list your property with us exclusively, you get additional international marketing, aerial photography and website client login for 24/7 updates.

Over 300 Barbados property listings in our database and also we have access to over 100 external real estate agents' listings.

Client Reviews

Thank you so much to Junior, Kaleb and Giselle for helping my family transition in this chapter of our lives. Everyone w... read more

Truly Remarkable Team
Junior and his team, Kaleb and Giselle, combined in a helpful, professional manner to guide my husband and I, through th... read more

A Truly Professional Team
We are very impressed with the professionalism of Junior, Giselle, and Kaleb, they each supported us in various stages o... read more

Great Experience
Living overseas, we needed a knowledgeable and trustworthy realtor to help my father sell his long-time home in St. Mich... read more

Mervyn B
Kaleb is a pleasant professional who makes processes easy that some others in this sector can make unnecessarily difficu... read more

The process of moving is not an easy experience, but it's made a whole lot better when you've got an agent that's kind, ... read more

Brandon & Jehmilah; THANKS KALEB!!!
Working with Kaleb (who also answers to the name Kyle **inside joke) made this house selection/acquisition a breeze. His... read more

Sherri B
Doing anything for the first time can be a bit nerve wracking but trusting Kaleb to find me a my first home to rent was ... read more

S. T.
I worked with Giselle for 8 months and during this time she made the deal so comfortable, easy and understanding, she tr... read more

Antoine Catlin
Kaleb worked very hard to find a place for me that I would be happy in and I am so grateful for that . I wouldn't have f... read more

After seeing an ad online for a new apartment, we immediately contacted Kaleb & team to arrange a viewing. All commu... read more

Sam & Jenelle
Junior Sparks came highly recommended by a good friend of mine. He and his team were extremely professional in their app... read more

Monique J
Moving to Barbados from Germany, Junior and his team made my search and my move a smooth process. When having online vis... read more

Pietrick V.
My sister watched an episode of House Hunters International featuring Junior Sparks. My property had been listed with an... read more

Ina & Wendy
I had a great experience with Kaleb Gibbs, Real Estate Agent with Global Estate Agency. Me and my husband recently used ... read more

A phenomenal team to say the very least. We worked with Global Estate Agency in the past and this time wasn’t any differ... read more

Wow, wow and wow. I would certainly like to say a huge thank you to Junior Sparks and Giselle at Global Estate Agency. T... read more

Having just purchased through Global Estate Agency, it was nice to deal with a very professional and friendly company! ... read more

Paul Bailey
It was an honor to have worked with this professional team at Global Estate Agency Inc. I had listed my property for tw... read more

Dear Junior at Global Estate Agency Inc. Thank you and Raquel for the fantastic work you have done for me and for every... read more

Frederick A Walcott
From inception Junior made the process so easy. He came highly recommended and working with him has been a pleasure. He ... read more

Deirdre A.
Junior is an amazing individual, and it was absolutely a joy working with him. At the very inception our conversation wa... read more

Margaret I.
Junior from Global Estate Agency is extremely professional and reliable with a sound knowledge of the real estate market... read more

Angela Reifer
I had a great experience dealing with Junior and team. Very professional and responsive, he even gave me a virtual live... read more

Junior and his team are fantastic. Junior helped us rent our house out a few years ago with a lovely family who were ve... read more

Junior was extremely professional and took the time to understand exactly what our f... read more

Mark F
After navigating my way through much turbulence in the world of real estate agents, I stumbled upon Junior and Global Es... read more

Junior is an absolute gem in the real estate business. He is professional, reliable and delivers results quickly. I had ... read more

It has been my pleasure to conduct business with Junior over the past 10 years or so. His professionalism and integrity... read more

Anita Hinds
Junior is a true professional! He understands his clients’ needs and ensures he delivers. I have used Junior for my prop... read more

Karen W
Junior was an absolute pleasure to work with. In no time at all he found great tenants for us. He took the stress out of... read more

Gregg and Nicole

What can i say, y... read more

Chelston B.

As a UK resident with a rented property. I was introduced to Junior, this was back in February 2008. I received total ou... read more

Anita & Joyce
After contacting a few real estate agents with no success, Junior was recommended by a friend. Not being available to m... read more

Heather Blades
I have used Global Estate Agency as my "go to" for my rental property now for nearly 15 years. The team is pro... read more

A.L. Davis
My experience with Junior can only be described as seamless. He was very approachable and was wealth of knowledge. His f... read more

Brian Payne
Junior and his team were fantastic to work with and we couldn't be happier with our new home. Thank you Junior!!... read more

Scott M
If we had to use one word to describe our experience with Junior, it would be PHENOMENAL. We are currently living overse... read more

Terri-Anne and Shane
When my wife and I decided we were going to relocate to Barbados with our family we knew that we would need someone that... read more

Alexei & Ria
Junior can be described in one word....AMAZING! I have had the immense good fortune to know this exceptional human being... read more

Cheryll-Ann W

Junior is professional and results oriented. His personality makes him appr... read more

Winifred H.

I relocated to Barbados in early 2020. Junior was referred to me by a good friend who said of my need for a real estate ... read more

From the time I decided to look for a new home, Junior's website was my first go-to-destination. I was not disappointed.... read more

Alicia N.
Very easy to find the appropriate house and close the deal with Junior involved. He is always open and happy to help his... read more

Francisco Velez
What Junior doesn’t know about Real estate you could write on the back of a stamp .He is a wealth of knowledge , and I b... read more

If there ever was a person who has genuine passion for what they do it's Junior. I have known Junior for years and when ... read more

Edwyn W
I have been lucky to have Junior's real estate assistance for over a decade. He has found for me several rental properti... read more

Claudio M
Global Finding a tenant in this COVID-19 period through Global Estate Agency was the key success factor for me, being... read more

Tony J
Junior has diverse knowledge of the Real Estate climate in Barbados. His professional approach to property consultatio... read more

Sonia Ishmael
Professional, enthusiastic, achieves results... read more

Marlene Johnson
I would recommend anyone looking for a house in Barbados to use Junior.... Always on the end of the phone and always a... read more

Andrew Newman
Junior was a true professional to work with, answering all queries promptly and co-ordinating everything in a timely a... read more

Robin Belle
Thanks to Mr. Sparks, my relocation to Barbados was made easy!

He is a true professional who takes the t... read more

Wenise Davis
Having lived and worked throughout the English-speaking Caribbean, I ended up spending alot of time with real estate a... read more

Joseph P. Herde

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