The reasons why investors usually buy cheap property for sale by owner in Exuma, Bahamas (FSBO) is because this can offer some unique advantages, but it also comes with some risks.
Buying cheap property for 'Sale by Owner' is usually down to a lower price, there are No Agent Fees, as sellers often price FSBO properties lower because they're not paying a real estate agent commission which can be 5-6% of the sale price.
Exuma, often called "The Exumas" is an area or district of The Exuma, Bahamas, made up of over 365 islands and cays with the largest being Great Exuma, connected by a bridge to Little Exuma, and the smaller surrounding cays.
The area is about 35 miles southeast of Nassau and is reached via direct international flights in and out of Exuma International Airport (GGT).
As a buyer or investor, there may be room to negotiate a better deal directly with the owner, which may allow for more flexible terms and quicker and easier negotiation.
If the property is undervalued due to being in poor condition or in a transitioning neighborhood, renovate to hold and build equity over time could be viable.
FSBO properties are often marketed less aggressively, meaning fewer buyers may be aware of the listing, and these properties are ideal for investors or looking to buy at a low price as FSBO deals are often below market value when requiring attention.
A higher risk of errors in paperwork or missing disclosures can though occur, so due diligence is required at all stages, and hiring a real estate attorney for the legal aspect is essential.
If you are an experienced buyer or investor, have cash on-hand or good options on financing, buying cheap property in Exuma, Bahamas that is for 'Sale by Owner' can be an option.
Many luxury properties in the Exuma, Bahamas come with world-class amenities like private pools, golf courses, marinas, and even private beaches. The Exuma, Bahamas has a reputation for catering to a high-net-worth clientele, and there are plenty of exclusive events, private clubs, fine dining, and cultural experiences for those living in luxury.
While the healthcare system may not be as advanced as in some countries, the Exuma, Bahamas has high-standard medical facilities, and there are also private international schools for expatriates.
The Exuma, Bahamas is just a short flight (around 1 hour) from Florida, making it an easy weekend getaway or second home for many American buyers.
Access to International Markets with the location makes it a gateway to both North and South American markets, as well as Caribbean. Given the popularity of the Exuma, Bahamas as a luxury destination, there's potential for lucrative returns if you decide to rent your property out, especially during the peak tourist season (winter months).
Buying Exuma cheap property for sale by owner can be a smart move for both investment and personal use, depending on your goals.
The Exuma, Bahamas welcomes foreign investors and has clear and straightforward property laws. As a foreigner, you can purchase real estate in your name without restrictions, provided the property exceeds a certain value (typically over $500,000 for foreign buyers).
