Jamaica

GuideVolume 3 Issue 2 Serving Jamaica’s Real Estate Marketplace

FREE

Online Magazine spOnsOred by:

www.Top5Jamaica.com

www.MyEliteGrocer.com

Jamaica

GuideVolume 3 Issue 2 Serving Jamaica’s Real Estate Marketplace

View this Issue Online

JaRealEstateGuide.com

FREE

FOR MORE INFORMATION ABOUT THIS PROPERTY SEE PAGE 30

PublisherButterfly Publications

editorial directorStephanie Treasure

layout & designThe Gleaner Company Ltd.

– Overseas Publications

cover PhotoLenox Quallo

cover concePtSutherland Wade

Associates

Website designBlitzwebdesign.com

PrinterLithographic Printers

the Jamaica real estate guide is published quarterly by

butterfly Publicationsissn 0799-2335

ardenne house, 11 ardenne road, unit c10,

Kingston 10Phone: (876) 927.9854

Fax: (876) 969.2565info@jarealestateguide.com

www.JaRealEstateGuide.com

© 2006-2008 butterfly Publications

volume 3, issue 2: Fall 2008

Publisher’s Policy reproduction of any photographs, artwork or copy prepared by the Jamaica real estate guide is strictly prohibited without written permission from the publisher. all advertised properties are subject to prior sale or withdrawal without notice. butterfly Publications or the Jamaica real estate guide is not a real estate broker and this publication is not an effort to assist in the buying or selling of real estate but to provide information about real estate listed with a licensed real estate broker. the advertisers, publisher, printer and associates are not liable for misinformation, misprints or typographical errors. advertising is not accepted from unlicensed real estate sales companies or private home sellers.

real estate advertised in this magazine is subject to the Jamaica real estate board laws. this publication will not knowingly accept any advertising for real estate which is in violation of these laws. real estate advertised in this publication is available on an equal opportunity basis.

Welcome to the second issue of the Jamaica

Real Estate Guide’s all-new handy digest-size magazine. We trust that you find the new size easier to carry around as you search for your Jamaican home and find the information that we have put together for you quite useful.

It was a pleasure for us to compile this issue that is full of resources for the homebuyer, and the hottest available properties in Jamaica right now. In this issue – a focus on Mortgages – you will find articles about the basics of a mortgage – amount needed for a deposit, interest rates and lenders in Jamaica. We also included a handy affordability worksheet, plus a checklist of items for a loan application.

Don’t miss a special report from the National Land Agency on the Do’s and Don’ts of Buying land in Jamaica. And, lastly, a feature on general security precautions to prevent against being robbed.

We are proud to be taking part in the Realtors Association Expo on November 23, 2008, at the Hilton Kingston Hotel. Be sure to stop by our booth and we look forward to meeting you, our valued readers. We certainly acknowledge our new readers that have enjoyed reading the online magazine through our website at www.JaRealestateGuide.com from Countries like Australia, Bermuda, Canada, Denmark, U.S.A. and U.K. Thank you for

your interest and continued feedback.

Finally we hope that you enjoy the content and style of our magazine as it grows in popularity. We are your publication, and committed to helping the Jamaica Real Estate Homebuyer or Investor. So if you have an idea for an article or just want to make a general comment about our style and content, we are all ears. Your feedback is very important to us.

Send us your comments and suggestions on how we can make the Jamaica Real Estate Guide your most valued resource. We are only a click away. Contact us via email at info [at] jarealestateguide.com or complete the contact form on our website at www.JaRealestateGuide.com.

l Stephanie Treasure, Founder & Editorial Director, The Jamaica Real Estate Guide.

PuBLiShER’Snote

Say you Saw it in the Jamaica Real Estate Guide x 5Jamaica

Guide JaRealEstateGuide.com

For SaleResidential Development

LandAngels, St. Catherine

For SaleCommercial Building

39 Slipe Road, Cross RoadsTwo Storey

For Sale – J$22,000,000Peter’s Rock

Residential Homeon approx. 1/4 acre,

panoramic view of city ofKingston & its harbour

It has always been said that land is a good investment. This is even truer today, what with the uncertainty in the world �nancial markets and the need for people to �nd secure investments. Like most investment opportunities, however, it pays to go to the experts, and with real estate, this means going to a realtor.

The Realtor’s Association of Jamaica (RAJ) was founded in 1966 by 12 concerned persons, who felt a need to promote and maintain a high standard of conduct within the industry. They also agreed that the association would provide a role in continuing education for its members and to promote its services to the public.

Today, the association is the largest professional body for the real estate industry in Jamaica and has a membership of 170. All members hold either a dealer’s or salesman’s licence (or both) and through member-ship in the RAJ, can use the designation, ‘realtor’. The association is a�liated with the National Associa-tion of Realtor’s (NAR) in the United States of America, which has more than 1.5 million members.

The RAJ has become the voice of real estate in Jamaica and facilitates the coming together of professionals, policymakers and the public in matters concerning real estate.

Real Estate Week and Expo 2008The Realtor’s Association of Jamaica will be hosting a Real Estate Exposition under the theme, Secure Your Future Through Real Estate, to be held at the Kingston Hilton hotel on November 23. This will be the culmination of a week of activities by the RAJ.

Schedule of events for the week:Church service: Sunday, November 16at the St Andrew Parish Church at 9:45 a.m.

Luncheon and awards: Tuesday, November 18at the Hilton Kingston Hotel

Real Estate Expo: Sunday, November 23at the Hilton Kingston Hotel, Independence Ballroom, 11 a.m. to 7 p.m. Bring the entire family.

In addition to more than 40 booths representing the stakeholders in the real estate industry, there will be a series of talks on various topics of interest to those interested in investing in real property.

For more information,contact the RAJ at 925-6223, or email: info@realtorsjamaica.com. You can also visit us on the webwww.realtorsjamaica.com.

Secure Your Future with Real Estate

Meet the Real Estate professionals at Real Estate Expo 2008, Nov. 23, Hilton Kingston Hotel

Say you Saw it in the Jamaica Real Estate Guide x 11Jamaica

Guide JaRealEstateGuide.com

RoBBeRy, By definition, is to take something from an individual by

direct use of, or threat of, violence – it is ‘give it up, or else’. this is different from theft, which is committed through stealth (i.e. a pickpocket) or when you are not present (i.e. burglary).

It cannot be stressed enough that with robbery, the criminal has come prepared to commit violence. There is no ‘warm-up time’ for the criminal. When he walks up to you, he has already escalated it to the point where using physical violence makes sense to him.

The victim seldom has a chance to ‘shift gears’ fast enough to effectively defend himself or herself. This is why it is critical for a would-be victim to recognize the developing danger signs of such an attack and, having done so, take evasive maneuvers BeFoRe the attack occurs.

When entering a ‘fringe area’, glance around to see if anyone is about. This

especially means looking behind you. By simply

glancing around in certain areas, you can reduce your

chances of being

raped or robbed by 90 per cent! It takes

no more than two seconds when

stepping out of an elevator into a parking structure, walking into a parking lot, when approaching an ATM to assess if there is

potential trouble present.Trust your inner alarms, even if there is

no apparent reason.If you don’t like the ‘vibes’ someone is

giving off, don’t let that person approach you. Withdraw from the area and return to ‘the lights and the noise’.

Insist on a buffer of at least five feet against people who set off your internal alarms. In wide-open fringe areas, make it fifteen.

You have the right to tell someone “that’s close enough”, and it is Not rude.

retreat

Never be too proud to retreat or to walk wide of someone. If you don’t like a situation, it is better to err on the side of caution.

Watch to see who is watching you. An integral part of a robbery is the

‘interview’. It is during this time that the criminal selects someone and then decides if he can successfully rob that person.

Go out of your way to avoid people getting out of cars in parking lots and on the street.

Be careful of cars pulling up next to you and people getting out.

Head for the lights and the noise. If someone tries to follow you, gets close, or is loitering in an ambush area, get to an area where there are people.

Do Not allow yourself to be surrounded

There is no danger signal more obvious than being surrounded or criminals ‘splitting up’ as they approach you. If you see this developing, leAVe!

don’t argue

If despite all this, a criminal still gets the drop on you, don’t stand there and argue.

Although this may sound asinine, you would be amazed at how common it is. Simply stated, since most people don’t recognize the developing danger, it does

how to avoid being robbed

Continues on Page 19

27A Beechwood Avenue, Kingston 5Tel: (876) 929.7739, 968.7552, x WeeKends: 873.6600

Lic#: 2008-DL/002

QUANTITY SURVEYORS/REAL ESTATE APPRAISERSW&l AssociATes limiTed

Quantity surveying

Appraisals sales Rentals

Property management

HoPedAle, sT. cATHeRine (NEAR SYDENHAM)5 Bedrooms, 2 bathrooms, Ceramic tiled floor,

double carport entrance, in immaculate conditionJA.$8,000,000 or Us$105,000 (neg.)

HAVendAle5 Bedrooms, 2 bathrooms plus helpers’

quarters. 400 gallon water tank, ceramic tile, fully grilled (space for expansion), immaculate condition, grilled carport.

JA$17,000,000 (neg.)

smoKeYVAle5 Bedrooms, 3 bathrooms, helpers’ quarters, great view, marble floors in a quiet neighborhood.JA$34,000,000

cominG in mid-2009COPACABANA, ST. ANDREW APARTMENTS, STUDIOS, AND SUPER STUDIOS. VACATION ACCOMMODATION

sTARTinG AT Us$200 WeeKlYLong-term rates available on request

(Beach access, panoramic view of Norman Manley International Airport and the Caribbean Sea)

dillon AVenUe, off Beechwood Avenue Small 2 bedroom house on large lot of land securely fenced,

suitable for parking garage activities. J$4.9m

old sTonY Hill RoAd, Development land 2 ½ acres with subdivision approval and older type building.

Panoramic view. 2 road frontages. J$55mHoRiZon PARK, sT. cATHeRine

Two storey – Upper floor 4 bedrooms, Lower floor 2 bedrooms Large kitchen, air conditioned

JA$18,000,000 or Us$250,000 (neg.)

cAmRose, sT. AndReW (NEAR COPACABANA)NEW APARTMENTS (UNDER CONSTRUCTION)

2 Bedrooms 2 bathrooms, a/c unit, ceramic tiled floor. Completion time August 2008. Inspection on Sundays

10:00 a.m. - 2:30 p.m. (call for appointment)JA$10,000,000

more than 1,000 local real estate properties were showcased to

thousands of Jamaican and other caribbean nationals in the United Kingdom (UK) who attended the historic JN Real estate Fair and seminars at the Kensington town Hall in london. the three-day event (may 30 to June 1), was hosted by the Jamaica National Building Society (JNBS), in association with several local developers, realtors, and surveyors.

“We wanted to showcase a wide variety of real estate products, and introduce Jamaicans in the Diaspora to our local professionals in this sector,” Miss Leesa Kow, JN Group Marketing, promotions &

Sales Executive, explained, “and based on attendance and interest expressed, it was successful.”

She said that in addition to the team from the Society, some of the participants in the Real Estate Fair were representatives from: Archstone Real Estate; Berkeley & Spence; Can-Cara Development Limited; Coldwell Bankers Jamaica Realty; Don Juan Enterprises; Halicon Holdings Ltd.; Island Homes; the National Housing Trust; Scott’s Realty; Thomas, Forbes and Associates; and West Indies Home Contractors.

Speaking at the opening event, Mr. Earl Jarrett, General Manager of JNBS, said, “We know that although many persons left Jamaica decades ago, or were born here in

Jamaica National woos buyers at real estate fair in London

More than 1,000 properties showcased3,000 persons attend seminars…

ll

CaPaCiTy auDiEnCE: Three seminars on property-related matters were arranged by Jamaica National Building Society. Here, participants, who are prospective owners of Jamaican real estate, share in a well-subscribed discussion on the Financing of Property Purchase in Jamaica through JNBS.

Say you Saw it in the Jamaica Real Estate Guide x 15Jamaica

Guide JaRealEstateGuide.com

Continues on Page 18

the UK of Jamaican parentage … there is a deep desire to maintain close contact with not only relatives and friends back home, but also with “things Jamaican.”

“Jamaica is on a positive growth path when it comes to the real estate sector, and it remains a land of great potential, with promise for unique developments,” he said, pointing to the expansion of the island’s road network, rural electrification and the construction of several water plants, as some of the major government infrastructural developments that have enhanced the real estate sector.

developments

He outlined developments that were taking place along the island’s main tourism corridors, and said that, “Over the past four years or so, several major hotel and tourist development have been completed, or are now under construction along the North and Western coastlines of the island. And, housing development and commercial complexes are being constructed along these same corridors with both having high investor returns potential.”

He also highlighted the concept of Title Insurance and advised attendees that such a policy was recently launched in Jamaica by NEM Insurance Company, a subsidiary of JNBS; noting that the policy not only speeds up the mortgage process; but, “it can also liberate dead capital…bringing value to lands that have been passed on for generations, without a proper title.”

“Some people may own lands in the hills of Clarendon, on the plains of Westmoreland or along the coast of St. Thomas…without a proper title. Now, you can realise the value of your land through Title Insurance…and clear it of any impediments, through a much faster process than existed before,” he pointed out.

Noting that there are some misconceptions about real estate transactions in Jamaica, he said that Jamaica

National used the Real Estate Fair, and the presence of established and respected developers, realtors, surveyors and attorneys, to provide information and assist persons interested in acquiring properties to make well-informed decisions.

The Real Estate Fair, including a series of seminars, was part of Jamaica National’s celebration of 20 years of operation in the UK, according to Miss Paulette Simpson, Chief Representative Officer in the Jamaica National UK Office. “More than 3,000 persons participated in the seminars,” she pointed out, confirming the high level of interest in the historic Real Estate Fair.

“There were probing questions about the mortgage process,” Mrs. Wanica Purkiss, JN Mortgage Executive, said, “and the seminars sought to clarify details about the acquisition of loans.”

The main subjects highlighted in the seminars were: Financing Property Purchase in Jamaica through Jamaica National, which informed attendees about the residential and mortgage operation of the JNBS; as well as, Legal Process including Conveyancing and the Pitfalls and Building a House in Jamaica.

Fully CaPTivaTED: A client, fully focused, scribbles a note about real estate purchasing in Jamaica . She was attending one of three free real estate seminars hosted by Jamaica National Building Society at the UK Real Estate Fair, held May 31 to June 2.

Continued from Page 15

18 x Say you Saw it in the Jamaica Real Estate GuideJamaica

GuideJaRealEstateGuide.com Say you Saw it in the Jamaica Real Estate Guide x 19Jamaica

Guide

literally ‘jump out of the bushes’ to them. Sometimes they stand there in total shock and disbelief (which works well for the mugger and, in fact, usually saves their lives). However, other times the victims don’t accurately assess the threat, nor do they have time to shift out of their normal mindset. And that means they try to stand there and argue as though this were just a rude busboy in a restaurant. There is no better way to get shot.

NEVER allow yourself to be taken to a secondary location.

Most muggers only want your money or valuables, if you give them to him without resistance you will often be fine. However, if a mugger tries to force you into a car or take you to another location, all bets are off.

Continued from Page 11

Do not buy land from someone other than the registered owner

Ask to see the Registered title for the land

Ask for some form of identification from the vendor (passport, driver’s licence, national identification)

Ask for taxpayer Registration Number for the vendor

Do a title search at the land titles Divi-sion or use elandjamaica

IF tHeRe IS No ReGISteReD tItle

Ask to see a conveyance Deed (common law title)

The deed must describe the land clearly

Obtain an updated copy of the tax certificate from the Inland Revenue Department

Obtain information from persons living close to the land to deter-mine who owns the land.

Obtain a Survey Diagram

A Survey Diagram is important.It identifies boundaries of the land. It identifies any encroachment.

Don’t perform any transactions without a written agreement or contract between the purchaser

and vendor

Agreement must refer to each person by their name and address.Agreement must describe the propertyObtain a receipt from the vendor when money is paid at all times.

Obtain Subdivision Approval

Subdivision Approval from the Parish Council is required where the land being purchased is a portion of a larger piece of land (at least ¼ acre).

•

••

•

•

•

•

•

ThE DOs AND DON’Ts OF BuYiNG LANDDOs DON’Ts

Buying land is a serious matter and can involve fraudulent transactions. The National Land Agency saw it prudent to offer some guidance in purchasing property:

DO

DON’T

DO

DO

DO

DO

DO

DO

DO

DON’T

DO

Say you Saw it in the Jamaica Real Estate Guide x 21Jamaica

Guide JaRealEstateGuide.com

Langford & BrownC H A R T E R E D S U R V E Y O R S

31 Upper Waterloo Road, Kingston 10 l Phone: (876) 925-7861Website: www.langford-brown.com

1,200 acres, mile of white sand beachfront US$29,000,000TreLawny

TreLawny

ST. ThomaS

ST. ThomaS

ST. eLIZaBeTh

ST. ann

ST. ann

CLarenDon

hanoVer

IrISh Town

360 acres beachfront US$10,000,000

1,100 acres resort land. 1.4 miles white sand beach

900 acres, magnificent sea views suitable for agricultural subdivision

Small hotel on the coast US$2,700,000

5 Acre lots views of the sea From US$120,000

Greathouse 12 acres of land US$2,200,000

2,500 acres, beach, private mountain $4,000,000

500 acres beach, cove – Yachting haven

12.5 acres, 2 titles, great view US$220,000

22 x Say you Saw it in the Jamaica Real Estate GuideJamaica

GuideJaRealEstateGuide.com Say you Saw it in the Jamaica Real Estate Guide x 23Jamaica

Guide JaRealEstateGuide.com

GeNeRAlly, to start the process, a deposit – anywhere from five to 20

per cent of the purchase price – is paid to the vendor’s lawyer to get a sales agreement signed. the balance of funds is acquired through a mortgage from a lending institution ... then there are the dreaded closing costs.

Closing Costs

To avoid the shock of closing costs, however, it is advised at the onset to add on approximately six per cent to the sale price of the property for coverage of any incidental charges.

Contrary to the inference of the term, closing costs are not all paid at the closing of the deal. Closing costs include charges such as mortgage loan commitment fee, registration of the property, stamp duty, and sales agreement preparation.

Some of these fees are shared between purchaser and vendor and are termed half-charges.

Half CHarges to tHe purCHaser (Closing Costs)

The purchaser, is required to pay half the cost of the following fees:

Stamp duty - 4.5% of the purchase priceRegistration - $5.00 per thousand

l

l

Sales Agreement - The vendor’s lawyer determines the cost.Valuator’s Fee

getting tHe mortgage

In getting a mortgage leading institutions – Victoria Mutual building Society (VMBS), Jamaica National Building Society (JNBS) and First Caribbean Building Society (FCBS) – all combine with the National Housing Trust (NHT) in providing funds for the purchase of residential property.

The state-owned NHT offer loans to contributors at two per cent to eight per cent, based on the salary of the applicant, but the amount available is capped at a maximum $3.5 million per contributor. However, the joint financing mortgage programme between building societies and the NHT allows additional funds to be borrowed and the total loan repaid through the building society.

Typically, residential mortgage rates are offered depending on the ownership status of the applicant. At building societies, first-time homeowners are charged between 13.75 per cent and 14 per cent, but if an applicant already owns a home then expect to repay at least 15 per cent for the mortgage.

Each building society, however, offer its

l

l

own special promotion, for example JNBS has a 100 per cent financing to women under specified circumstances. “Its only for women in special circumstances, where the sale price is at least 10 per cent less than the valuation of the property,” a JNBS representative explained.

Residential mortgages are generally financed up to a maximum period of 35 years, or to maximum age of 65, and calculated taking the amount borrowed and the repayment time into consideration. In other words the older you, are the less time you’ll have to repay a mortgage and monthly payments will, therefore, be higher.

Incidentally some building societies finance the purchase of a lot at a maximum 90 per cent. For the most part, however, up to 95 per cent financing is offered in Jamaican dollars for purchasing or building a home, and 70 per cent financing in other currencies at commensurate rates.

For instance, at VMBS, foreign currency mortgage loans attract interest rates ranging from eight per cent to 9.5 per cent, depending on the currency.

variable mortgage

Word of caution, however, mortgage rates in Jamaica are variable, meaning they may change over time, subject to market rate and economic conditions.

A variable rate mortgage (or adjustable rate) is a loan where the interest rate changes to reflect market conditions, as opposed to a fixed rate, which specify a single rate throughout the life of the mortgage.

The variable method benefits and protects lenders, ensuring a profit by passing the interest rate risk on to the borrower.

In a fixed-rate mortgage, the lender hedges against potential interest rate changes and the borrower benefits if the interest rate falls and loses if interest rates rise in the market.

It is argued, however, that variable rate mortgages are typically less expensive than fixed-rate mortgages.

Walking through the mortgage process can be tedious at times, nonetheless, armed with adequate information, the journey can become far less stressful and devoid of unpleasant surprises. Our exposé, however, outlines the salient points to consider when taking what could possibly be the most important step in your life.

So, you’re thinking of buying a house but uncertain about financing

?

24 x Say you Saw it in the Jamaica Real Estate GuideJamaica

GuideJaRealEstateGuide.com

Mo

rtg

ag

e W

or

ksh

eet

mo

NtH

ly

PAy

meN

t*

6%8%

13%

13.7

5%14

.00%

17.5

0%

$30

,000

$

4,65

6,20

6 $

3,88

6,93

6 $

2,65

9,96

3 $

2,53

2,35

9 $

2,49

2,18

9 $

2,03

0,41

6

$35

,000

$

5,43

2,24

0 $

4,53

4,75

8 $

3,10

3,29

0 $

2,95

4,41

9 $

2,90

7,55

4 $

2,36

8,81

9

$40

,000

$

6,20

8,27

5 $

5,18

2,58

1 $

3,54

6,61

7 $

3,37

6,47

9 $

3,32

2,91

9 $

2,70

7,22

1

$45

,000

$

6,98

4,30

9 $

5,83

0,40

4 $

3,98

9,94

4 $

3,79

8,53

9 $

3,73

8,28

3 $

3,04

5,62

4

$50

,000

$

7,76

0,34

3 $

6,47

8,22

6 $

4,43

3,27

1 $

4,22

0,59

9 $

4,15

3,64

8 $

3,38

4,02

7

$55

,000

$

8,53

6,37

8 $

7,12

6,04

9 $

4,87

6,59

9 $

4,64

2,65

9 $

4,56

9,01

3 $

3,72

2,42

9

$60

,000

$

9,31

2,41

2 $

7,77

3,87

1 $

5,31

9,92

6 $

5,06

4,71

9 $

4,98

4,37

8 $

4,06

0,83

2

$65

,000

$

10,0

88,4

46

$8,

421,

694

$5,

763,

253

$5,

486,

779

$5,

399,

743

$4,

399,

235

$70

,000

$

10,8

64,4

80

$9,

069,

517

$6,

206,

580

$5,

908,

839

$5,

815,

108

$4,

737,

637

$75

,000

$

11,6

40,5

15

$9,

717,

339

$6,

649,

907

$6,

330,

899

$6,

230,

472

$5,

076,

040

$80

,000

$

12,4

16,5

49

$10

,365

,162

$

7,09

3,23

4 $

6,75

2,95

8 $

6,64

5,83

7 $

5,41

4,44

3

$85

,000

$

13,1

92,5

83

$11

,012

,984

$

7,53

6,56

1 $

7,17

5,01

8 $

7,06

1,20

2 $

5,75

2,84

5

$90

,000

$

13,9

68,6

18

$11

,660

,807

$

7,97

9,88

9 $

7,59

7,07

8 $

7,47

6,56

7 $

6,09

1,24

8

$95

,000

$

14,7

44,6

52

$12

,308

,630

$

8,42

3,21

6 $

8,01

9,13

8 $

7,89

1,93

2 $

6,42

9,65

1

$10

0,00

0 $

15,5

20,6

86

$12

,956

,452

$

8,86

6,54

3 $

8,44

1,19

8 $

8,30

7,29

7 $

6,76

8,05

3

All

figur

es a

re in

Jam

aica

n do

llars

This

cha

rt s

how

s th

e lo

an a

mou

nt th

at a

hom

ebuy

er c

ould

aff

ord

at v

ario

us in

tere

st ra

tes

bas

ed o

n cu

rren

t tre

nds.

Fig

ures

are

bas

ed o

n p

rinci

pal

an

d in

tere

st o

nly.

To u

se th

e ch

art,

find

the

Mon

thly

Mor

tgag

e p

aym

ent y

ou c

an a

ffor

d, th

en lo

ok u

nder

the

inte

rest

rate

col

umns

for t

he lo

an a

mou

nt.

Not

e th

at th

e ch

art d

oes

not t

ake

into

con

side

ratio

n do

wn

pay

men

t am

ount

or v

aria

ble

inte

rest

rate

s th

at m

ay b

e ap

plie

d to

the

loan

.A

mou

nts

liste

d ar

e ap

pro

xim

ate

and

are

bas

ed o

n a

25-y

ear fi

xed

rate

.

l l l l l

Say you Saw it in the Jamaica Real Estate Guide x 25Jamaica

Guide JaRealEstateGuide.com

The following is a recommended checklist for the Building Societies in Jamaica. Bring this information with you to the loan officer to help expedite your loan approval.

Mortgage Application Checklist

P

P

P

P

P

P

P

P

P

P

P

P

Signed Sales Agreement

Property Tax Certificate

Photocopy of Certificate of Title

Valuation Report showing picture of property by an approved valuator

income Verification Letter

Last two months’ pay slips

if self-employed - Statement of income Confirmation from a Chartered Accountant,

Cash Flow Projection, Bank Statement or Business Registration Certificate

Proof of age (Passport, Driver’s Licence, Alien Registration identification Card or

Elector Registration identification Card)

Registered Commissioned Land Surveyor’s Report

Closing Cost of approximately six per cent of the loan amount

Approved Plan (if applicable)

Detailed Builder’s estimate (if applicable)

YOUR BUSINESS CARD HERE!

CALL (876) 927-9854 or email us at advertising@jarealestateguide.com

Jamaica

Guide

90%“NINety PeRceNt of all millionaires

become so through owning real estate. more money has been made in real

estate than in all industrial investments combined.

the wise young man or wage earner of today invests his money in real

estate.” – Andrew Carnegie

Say you Saw it in the Jamaica Real Estate Guide x 29Jamaica

Guide JaRealEstateGuide.com

Advertiser index

AcceSS PRoPeRty INVeStmeNtS ltD ....... 30,31

AI GRAcey & ASSocIAteS ..................................26

AtlAS PRotectIoN GRoUP ...............................10

coK co-oPeRAtIVe cReDIt UNIoN ..................27

FURNItURelAND .................................................26

HoWARD JoHNSoN ReAlty lImIteD ...............27

JmmB .....................................................................19

JAmAIcA moRtGAGe BANK ...............................19

JAmAIcA NAtIoNAl BUIlDING SocIety .........14

JAmAIcA ReAl eStAte GUIDe ...........................28

JAmAIcA tRADe & INVeSt ...................................7

lA mAISoN PRoPeRty SeRVIceS lImIteD ........7

lANGFoRD & BRoWN .........................................20

NAtIoNAl lAND AGeNcy ..................................21

NoRtH AmeRIcAN HolDINGS lImIteD ......... 2-4

NoRtHWeSt DeVeloPmeNt ....................... 16,17

ReAltoRS ASSocIAtIoN oF JAmAIcA ...............8

RUel WoolcocK & comPANy ..........................26

ScotIA JAmAIcA BUIlDING SocIety ...............12

tRoPIcAl SUNSHINe PRoPeRtIeS lImIteD ....32

W & l ASSocIAteS lImIteD ...............................13

ACCESS PROPERTY INVESTMENTS LTD.

Kathleen (Kitty) Scott(Sales Consultant)

Gloria Thompson(Dealer Consultant)

Audrey Hamilton(Sales Consultant)

Raymond Treasure

(Sales Consultant)

Henry Kettle(Sales Consultant)

Herbert Chung(Sales Consultant)

Zetlin (Shirley) Shaw

(Dealer Consultant)

Belgrade HeigHts

NorBrook

ocHo rios, st. aNN

BeNgal, rio BueNo, st. aNN

rio BueNo, st. aNNgartH road, kgN. 8

cross roads, kiNgstoN

HaveNdale, kgN. 8Three bedrooms with large Master bedroom (ensuite), large basement studio, large kitchen and dining, breakfast nook etc, on app 14,000 sq ft of land. Magnificent view of city and sea. J$35 Mil.Cash purchaser may make offer.

Duplex type 2-storey on 3/4 Acre. 2 Separate gates, two 3-bedroom homes. Priced for sale. J$35 Mil.

3 Bedroom Penthouse apartment. View of the entire Ocho Rios resort area. Gated community, 24-hour security, swimming pool. US$300,000.

This is a 2-storey log cabin type home. Comprises 3 bedrooms, 2 bth with a den, study, laundry & helper’s room on ¾ acre fruited and landscaped property. Has swimming pool, terrace, panoramic view of Rio Bueno & North Coast. US$475,000.

Located at the top of Bengal Heights subdivision. 10 acres for residential development. Has water, electricity on site. Entire property has views of the sea and North Coast. US$500,000.

2 storey dwelling house, 5 bdrms, 2 bth, 2 kitchens, helpers’ quarters, separate living/dining with large front patio, customized flooring and columns. Sale price US$850,000.

Commercial Warehouses Cross Roads/Slipe Road. Strata lot warehouses on 1 acre with varying sizes. Low downpayment, extended closing. J$100 Mil

(Off Mannings Hill Road). Duplex consisting of two bedrooms, one bathroom, living, dining etc on each side. J$9 Mil. Cash purchaser may make offer.

Bravo street, st. aNNs Bay cullodeN By tHe sea

red Hills Home

1/4 acre lot with 2-storey (Heritage) Building with 3 road frontages (provides for drivethru) and at the entrance to St. Anns Bay. Location, Location, Location. J$35 Mil.

Westmoreland - Culloden by the Sea. Approximately 1/2 acre lot in exclusive residential development with expansive view. Located at the top of the subdivision. US$100, 000.

Stanmore Estate, Red Hills, St. Andrew. Split level, executive 5-br residence spread over three floors on 1/4 acre. Four ensuite bathrooms on the upper floor. Magnificent view of the city and sea, double carport. Tastefully built and accessorised. J$60 Mil. (Available with furnishing and fixtures at a negotiated price).

Aubyn Ferguson(Sales Consultant)

Anthony Harris(Registered

Dealer)

meadow drive/waterworks

[COVER PHOTO] 1/3 Acre of land manicured & landscaped with executive 2-storey single family home. 4 bdrms w/ensuite bthrms, plus powder room, separate living, dining, breakfast room, custom kitchen, w/Island, helper’s room & bthrm w/laundry. 2 Car covered pkg, electronic gate, water tank, large entertainment area, internal fountain. US$1.2 Mil.