Information for Buyers
To inform you on the various properties for sale in Aruba. We will assist you in making any transaction go seamless as possible. The following steps are an indication of how we will help you when you find the property or home for sale in the idyllic island of Aruba:
A preliminary Sale /Purchase Agreement with the owner of the property should be signed,containing the basic terms and conditions applicable for the sale/purchase of the property. The Seller is then committed to sell the property to you after signing this agreement!
A security deposit of 10 percent of the Sale / Purchase agreement will be required in most cases.
Pay or deposit the Security Deposit amount at the Notary of your choice.
Assistance on this matter is available should it be requested.
Documentation that may be required from the Notary to process the purchase / sale agreements would be the following :
- Copy of a valid identification card of the buyer (passport)
- Fill out information of sale form and personal data form
- Copy of the security deposit made
- Evidence of mortgage agreement from prospective lender
This process may take maximum 6 -8 weeks, and the charges vary depending on complexity of the transaction.
You will be contacted by the notary or your broker for an appointment to sign the deed and make final payments prior to the appointment date.
It is recommended that your financing is in place by the time that the official Deeds of Sale/Purchase and Transfer of Property are signed at
the notary office.
Property Land and Lease Land
Property Land is generals bought outright , therefore:
Other than property land you can purchase a home which is built on lease land. Lease Land is owned by the Land of Aruba and a 60 year lease has been given. For these lease rights you pay a yearly fee. Many non-residents have bought lease land or homes situated on lease land.
There are many Condo developments in Aruba ,and a few still under construction, which are also available for purchase.
Annual property tax is only 0.4% and the land tax is US$0.85 per m2 or US$ 0.08 per sq. feet.
The purchaser will incur the closing costs, which amount to approximately 8% of the selling price, included in this are:
- Transfer Tax....... 6% payable only once
- Notary fees, transfer of deed, mortgage deed ( if necessary)