Own a Home for Less in The Bahamas | Local Foreclosure Playbook (2025)
🏡 Free Guide • Local Edition 2025

Own a Home for Less in The Bahamas

Download the **Local Bahamian Foreclosure Playbook (2025)** and learn how to buy 10–25% below market, secure bank financing, and navigate title, inspections, and closing — step by step.

10–25%
Typical discount range
10–20%
Common down payment
5 Banks
Local financing options

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By Glenn Ferguson — Bahamas Real Estate Agent & Residency Consultant

What’s Inside

  • How to get **pre-approved** with local banks
  • Where to find **foreclosure lists** (not always public)
  • **Title & legal checks** to avoid pitfalls
  • Typical **closing costs** (stamp duty, legal fees, insurance)
  • **30-Day Action Plan** for Bahamian buyers
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Lower Entry Price

Foreclosed homes often sell **below market value**, giving Bahamian families an affordable path to ownership or local investment.

Faster Closings

Banks want these assets off their books. With pre-approval and a clean offer, closings can move quickly.

Local Financing

RBC, CIBC FirstCaribbean, Scotiabank, Commonwealth Bank, and Fidelity all lend to qualified Bahamian buyers.

Step-by-Step Buying Guide

  1. Pre-Approval: Confirm budget; target 10–20% down payment.
  2. Find Opportunities: Review bank lists with Glenn; many aren’t public.
  3. Title & Legal Checks: Verify liens, property taxes, and ownership history.
  4. Offer & Contract: Submit a competitive, clean offer with your lawyer.
  5. Renovate & Move-In (or Rent): Use trusted contractors; plan for insurance.

Typical Costs (Guide)

ItemTypical RangeNotes
Down Payment10–20%Varies by bank & profile
Stamp Duty (Transfer)2.5%–10%By value tier; sometimes split
Legal Fees≈ 2.5%Conveyance & searches
Home InsuranceBank requiredProof before closing
Inspection / SurveyVariesHighly recommended

Figures are illustrative; your attorney/bank will confirm actuals.

Case Study: Nassau Family Saves $65,000

Appraised at $280,000 → purchased for $215,000. Renovated with $20,000 (bank-approved contractor). Reappraised near $300,000. Result: affordable ownership + instant equity.

Glenn’s Local Tips

  • Inspect first: Budget for repairs; don’t rely on photos.
  • Know your total: Price + duty + legal + insurance + upgrades.
  • Move quickly: Banks respond to clean, ready buyers.
  • Think rental: If not your forever home, consider long-term rent.
⚠️ Foreclosure homes sell fast — best options move within weeks
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30-Day Local Action Plan

  • Weeks 1–2: Get pre-approved; review bank lists with Glenn.
  • Week 3: Arrange inspections; confirm title & tax checks.
  • Week 4: Submit offers; finalize financing; close with your attorney.

Prefer in-person? Ask about Saturday walk-throughs in Nassau.

🏁 Next Step

Download the guide and get matched to live foreclosure opportunities.

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