June 26, 2008

Real estate for sale in Jamaica

The forced sale value on a Jamaican property title is the minimum recommended value that the property can be sold for, if it was used as a security and there is a default in payment to the financial institution that granted the loan.

Some institutions will require that persons who are applying for a mortgage and might be using a title that is in someone else’s name as a security. That title should have a forced sale value that is equivalent or above the amount that should be granted as the loan.

When a home owner defaults on his or her mortgage payments the lending institution will have to recover the balance owing. However that financial institution when selling that property to recover the debt has to sell it at the value that is recommended on the title.

Properties would then be sold through private treaty sale, which is a way that offers the lending agency the opportunity to recover debts from proceeds of sale. The value for the property would not be disclosed to the public and purchasers would be invited to make bids to acquire such property.

9 comments:

irteza said...

I think this is a good opportunity for the investors and the buyers to get in there and get some good property for them. They will be having a good time and the prices are much affordable at this time. I think the buyers should not wait longer for the prices to come down. I have got some real estate properties for sale, visit them here, property in Brazil .

Administrator said...

Here is a similiar website about real jamaica estate: http://www.realjamaicaestate.com

Real Estate is the biggest asset class and of great importance for both individuals and institutional investors.

rickhetts said...

Great list.. thanks for the information.. I agree, this is really a great opportunity for the investors and for the buyers to get buy and sell good property...
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lency said...

Jamaica Real Estate rules and regulations were imposing liability on dealers (mostly) and sell to account for the money through the sale or acquisition of land in Jamaica, which is received by the other qualifications prescribed for candidates in general.

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Zyra said...

This is an informative post that rounds up all the details. The areas across Jamaica are interesting, nice, amazing and very appealing not only for locals but even for Hollywood stars. Until now, a lot of them are taking advantage of the amazing locations that can be found in the area. From beaches, interesting houses, fine architecture and marvelous natural beauty, Jamaica is one of the premier locations to enjoy and explore. You will really love the impeccable beauty of this place and you will be amazed of the great properties that you can find here. Most definitely, the Jamaica real estate is still very much bustling until now.

Zyra
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