Property Buying Process in Grenada (2026)
The Property Purchase Process
Buying property in Grenada is straightforward with the right professional guidance. Our team has in-depth knowledge of the local real estate market, financing options, legal requirements, property valuations, and building regulations. Below is a general outline of what you can expect when purchasing real estate in Grenada. Should you need further clarification, our experienced agents are always available to assist.
Financing Your Purchase
If you plan to obtain a mortgage or loan, the first step is to speak with a lender and secure pre-approval. This helps establish a realistic budget for your purchase. As a general guideline, your monthly mortgage payments should not exceed one-third of your total monthly income. Our agents can connect you with trusted local financial institutions and assist you in obtaining the most suitable financing options.
Additional costs associated with the transaction may include:
Alien Landholding Licence Fee (non-nationals only): 10% of the purchase price
Legal fees: Approximately 2% of the purchase price, plus 15% VAT
Stamp duty: Approximately 1% of the purchase price
Licensed Land Surveyor’s fee: Approximately EC $1,000 for parcels under one acre
Bank-related consultancy fees if mortgage financing is required
Sales Process
Identifying the Right Property
Your agent will present properties that align with your budget, preferences, and location requirements. This may include newly listed properties as well as select opportunities not yet publicly advertised, giving you access to a broader range of options. Viewings will be scheduled for any properties of interest. Once you narrow your selection, a professional valuation and boundary survey conducted by a Licensed Land Surveyor may be recommended. These assessments help confirm fair market value and ensure the property is a sound investment for both you and any lending institution involved.
Making an Offer and Finalizing Terms
You will be required to engage a local attorney to act on your behalf during the transaction. Your attorney will submit your offer to the seller or the seller’s legal representative. The offer does not have to match the asking price and may include specific conditions, which the seller can accept, revise, or decline. Your lawyer will remain involved throughout the negotiation and closing process.
Landholding Requirements
For non-nationals, your attorney will apply for an Alien Landholding Licence from the Government of Grenada on your behalf. Completion of the purchase is subject to approval of this licence.
Once the seller accepts the offer and the Offer and Acceptance Letter is signed, the seller’s attorney will prepare the Sale Agreement. This agreement is then reviewed and executed by the buyer through their lawyer. The buyer’s attorney will conduct title searches and prepare the necessary conveyance documents to transfer legal ownership.
When mortgage financing is involved, the timeline is generally longer due to the additional involvement of the bank’s legal team in preparing and executing mortgage documentation. Cash purchases, by contrast, typically move through the process more quickly.
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