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Innovative Storage Ideas for Small Bathrooms

May 21, 2017 Posted by: REMAXJA Admin

Bathrooms are notorious for being short on storage space. Of course, sometimes they can be remodeled, but that’s only possible if you have the money and are willing to deal with the hassle of a major remodeling job. Usually, a cramped bathroom is something you have to live with, but there are ways to make them tolerable. The trick is to be innovative and find solutions that allow you to use every spare inch of space without making it look cluttered. Everybody knows about cabinets and spacesavers that can be […]

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What are Transfer Tax and Stamp Duty?

April 4, 2017 Posted by: REMAXJA Admin

Transfer Tax is a payment to the Commissioner of Stamp Duty at the rate of 5% of the sale price or value for which the property is transferred. Transfer Tax is borne by the vendor, but it is the purchaser who is required to pay over the Tax to the Commissioner, and recover the amount from the purchase price. Stamp Duty is calculated at a rate of approximately 4% of the sale price for which the property is transferred. The purchaser and vendor usually share payment of Stamp Duty equally. […]

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9 Important Safety Tips for Home Sellers

March 22, 2017 Posted by: REMAXJA Admin

Working with a trusted real estate agent to sell your home will hopefully attract wonderful people who’ll admire your décor, swoon at your landscaping and vie to purchase your property for a handsome price. Unfortunately, it may also attract less desirable visitors. Your agent understands this and will take precautions on your behalf, as will other agents who bring their clients to tour your home. Here are some ways you can help them ensure your safety and others’ while your home is on the market: 1. Schedule showings ahead of […]

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6 Considerations Before Turning Your Home into a Rental

March 9, 2017 Posted by: REMAXJA Admin

Sometimes moving out doesn’t necessarily mean moving on. If you need to relocate but aren’t ready to sell your home, you may be thinking about renting out your home. Beyond considering how much equity you have in your home, the market forecast for real estate in your neighborhood, your savings and other financial factors, here are some things to ponder if you’re thinking about becoming a landlord. 1. Make sure you can legally rent your home Check your mortgage to see whether there are restrictions on renting. If you have […]

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What are the costs related to the mortgage financing?

February 23, 2017 Posted by: REMAXJA Admin

The costs incurred during mortgage financing include: Commitment Fee: 1%-3% depending on the Financial Institution; Stamp Duty on mortgage and copy mortgage: $1.00 per $200 of loan amount, plus 25% of this figure, plus a further sum of $110; Registration Fee: 0.5% of loan amount, but reduced to half this amount if mortgage is to be registered simultaneously with transfer. Legal Fees: 1% to 2% of loan amount plus General Consumption Tax of 15% on legal fees. You should check with a mortgage financing institution to verify the above. You […]

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What do I need to know about buying a lot in a subdivision scheme?

January 28, 2017 Posted by: REMAXJA Admin

Before you enter into a contract and pay down on the land  you should engage the services of an attorney-at-law to peruse any Agreement for Sale as prepared by the vendor. In any event, prior to purchasing any property, a prospective purchaser should always do the following: Determine if approval has been granted by the relevant Parish Council for the subdivision of the land, and the date of approval; Obtain a Surveyor’s Identification Report on the land. This is to ascertain whether the boundaries of the land on earth agree with the […]

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Why Conduct a Title Search?

December 19, 2016 Posted by: REMAXJA Admin

Persons dealing with an owner of registered title must conduct a Title search at the Office of Titles/Land Titles Division of the National Land Agency to verify the ownership of the title and any encumbrances and so protect oneself against improper dealing before completion of any sale or loan.  IT IS UNSAFE TO RELY ON THE DUPLICATE CERTIFICATE OF TITLE. Why Can’t I rely on the owner’s duplicate Certificate of Title? The Registrar of Titles may have dispensed with the production of the duplicate Certificate of Title and registered dealings […]

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What is a Caveat?

December 4, 2016 Posted by: REMAXJA Admin

A caveat is a document lodged with the Registrar of Titles by a person claiming an interest in land registered under the Registration of Titles Act or Registration (Strata Titles) Act.  Its objective is to prevent the registration of any change in the proprietorship or of any dealing with the property unless such dealings are made subject to the purchaser’s interest. in Jamaica, lands being registered are advertised in the daily newspapers weekly. If someone has applied to register land that you have an estate or interest in, without your […]

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How do I obtain a Land Title in Jamaica?

November 24, 2016 Posted by: REMAXJA Admin

It is estimated that approximately 55% of land in Jamaica remain unregistered, so your situation is not unique. First, you could check with the Registrar General Department, Central Village, Spanish Town P.O., to ascertain whether a common law title for your land has been recorded there. You can register the land yourself, but you should consider seriously engaging the services of an attorney, for purposes of getting a Registered Title, will need to: Get the property surveyed by  Commissioned Land Surveyor who will prepare a survey diagram, which he must […]

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Applying for a mortgage? Make sure you can answer these 6 questions

November 14, 2016 Posted by: REMAXJA Admin

Lenders will perform extensive research into your financial history before they approve you mortgage application. Prepare for your meeting with a loan officer by finding the answers to the following questions: 1. What is your credit score? Not only should you know the score, you should take a look at the items on your record. Say you missed the final electric bill from your last apartment and it ended up in collections. You can call the agency and ask them to remove it from your report (they’re under no obligation […]

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Shop 37 Holiday Shopping Village
Montego Bay, Jamaica JMCJS12
JA (876) 953 9000
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Fax (876) 953 9228

Email remaxjam@gmail.com

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We believe real estate buyers and sellers everywhere deserve the world-class services of outstanding agents who are skilled, driven and focused on achieving outstanding results. Each RE/MAX Office is Independently Owned and Operated.

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