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Thread: Condominium purchase

  1. #1
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    Condominium purchase

    My wife and I are considering a purchase of a condominium in the Eagle Beach area. We have been to Aruba many times and would like to have a vacation home there. I would appreciate any advice from those who have or have not purchased a condo. You may contact me at dennisdy@comcast.net

    Thanks!

  2. #2
    Super Moderator Jacki's Avatar
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    Hi Mohair! Welcome to the Aruba.com Community Forum!

    Please check out the many threads in this "Moving to Aruba" section where you will find some great advice and information
    Jacki ~ loving Aruba from NJ

  3. #3
    Aruba since 1979
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    Andrea J.'s Avatar
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    welcome to your first posting

    there are numereous forum members that are homeowners on aruba, not full time residents of aruba.
    i am certain some of them will contact you.

    good luck

  4. #4
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    Quote Originally Posted by Mohair View Post
    My wife and I are considering a purchase of a condominium in the Eagle Beach area. We have been to Aruba many times and would like to have a vacation home there. I would appreciate any advice from those who have or have not purchased a condo. You may contact me at dennisdy@comcast.net

    Thanks!
    What at do you need to know?

  5. #5
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    I would like to know what the differences are between buying a condominium in the U.S. and buying one in Aruba. Are there extra fees? Can you have a property inspection done? How long does the process take? How much do you pay monthly for your home owner association? Should I get a lawyer? etc.

  6. #6
    Senior Member Aruba4ever's Avatar
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    Mohair- there are "different" fees associated with buying in Aruba

    Here is some info from another similar post-

    Costs due at closing

    In addition to the selling price, there are costs due at time of closing of the property sale/purchase agreement. These costs are comprised of the transfer tax and notary fees. If a property is valued at under Awg. 250,000 (~US$140500), then the transfer tax is 3% of the value, and 6% if the value is higher. The notary fees are normally 2% of the selling price 1% each for the transfer deed and mortgage deed. By law a notary must be engaged to draw up the property transfer deed. Notaries are appointed by the Dutch Monarchy and approved by the Aruban government. The notary also performs any necessary due diligence to ensure that the property is indeed owned by the seller (checking the Land Registry and Public Registers) and is free from embargoes etc. Depending on the complexity of the transaction, the notary closing normally takes two to three months.
    Last edited by Aruba4ever; 01-25-2016 at 03:43 PM.

  7. #7
    Senior Member Aruba4ever's Avatar
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    I would always get a lawyer but that's just me. I have used a lawyer for every real estate transaction I have done in my life...its money well spent IMO.

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