Property Selling Process in Grenada (2026)
What Is the Typical Sales Process?
A standard property sale generally follows the steps outlined below:
The seller provides the agent with copies of the property’s title documents.
The agent conducts a property assessment to establish an appropriate asking price.
The property is marketed, inquiries are handled, and buyer viewings are coordinated.
The buyer’s agent prepares an Offer Letter and submits it to the seller for review and signature.
The seller’s agent prepares an Acceptance Letter for execution by the buyer.
The seller appoints a local attorney to manage the legal aspects of the transaction.
The seller’s attorney drafts the Sale Agreement and forwards it to the buyer’s attorney.
The buyer’s attorney prepares the Conveyance document, which is executed by the seller.
Under normal circumstances, the transaction is completed within approximately 90 days.
Important Notice
All applicable taxes, including any outstanding annual property taxes, along with related fees, must be settled before the sale can be finalized.
Property Transfer Tax
Nationals: 5% on the portion of the sale price or market value exceeding EC$20,000 (whichever is higher)
Non-nationals: 15% of the sale price or market value (whichever is higher)
Legal Fees
Seller’s Legal Costs
Typically range between 1%–2% of the purchase price, plus 15% VAT
Real Estate Commission Fees
Generally 5% of the purchase price, plus 15% VAT
Is Legal Representation Required for Sellers?
The Grenada Bar Association strongly advises that all parties involved in a real estate transaction retain legal counsel. Legal representation helps ensure compliance, accuracy, and a smooth transfer of ownership throughout the process.
How Long Does the Sales Process Usually Take?
While timelines may vary depending on financing, documentation, and legal requirements, most standard property sales are completed within approximately 90 days when all parties cooperate and documentation is in order.
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