Selling property in Barbados: Complete guide

Disclaimer: The contents of this article is for informational purposes only and does not constitute legal or tax advice. You are solely responsible for any tax or other legal liabilities arising from the purchase/sale of foreign property. Decisions to purchase foreign property and their procedure should be made after thorough research, consultation and verification from a qualified financial and legal advisor.

Have a holiday home or investment property in Barbados, and are thinking of selling? You’ll need to know how the process works, as it can be a little different to what you’re used to in the UK.

We’re here to help, with a complete guide to selling property in Barbados. We’ll cover everything you need to know, including a step-by-step look at the property sales process and info on fees, taxes and legal requirements.

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In this article:

How to sell property in Barbados as a foreigner - a step-by-step guide 1. Get your documentation together 2. Find an estate agent - or sell privately 3. Market your property 4. Negotiate the price and accept an offer 5. Appoint a solicitor 6. Sign and exchange contracts 7. Prepare for completion Is now a good time to sell in Barbados? How long does it take to sell property in Barbados? Do you need a lawyer or a solicitor to sell property? Do you need a Barbados bank account to sell property in Barbados? Taxes and costs when selling a property in Barbados as a non-resident Real estate agent fees Land tax Land surveyor’s fee Stamp duty Legal fees Does owning property in Barbados make you a tax resident? Transfer your property sale proceeds home with Wise

How to sell property in Barbados as a foreigner - a step-by-step guide

If it’s your first time selling a property in Barbados, you’ll need to know what to expect. Let’s run through the main steps involved:

1. Get your documentation together

You need quite a bit of paperwork to sell property in Barbados, so it’s a good idea to get it all ready before you put your house on the market.

Here’s what you’ll typically need:¹

• Valid photo ID and proof of address
• The original title deeds for the property
• A recent land survey/plan - you may need to hire a licensed land surveyor for this
• A recent land tax demand notice - showing that the appropriate land tax has been paid to the Barbados Revenue Authority
• Recent utility bills showing that payments are up to date
• An inventory of all furniture and items that will be included with the sale
• Insurance and mortgage documentation
• Evidence of Town and Country Planning Compliance, if you’ve had any alterations carried out at the property.

2. Find an estate agent - or sell privately

It’s not mandatory to use a real estate agent to sell a property in Barbados. You could swerve the fees (which can be quite high - more on that later) and sell your home yourself. You can do this by listing your property on online real estate portals and hosting viewings yourself.

However, it could be a good idea to take advantage of the local knowledge and specialist expertise of an estate agent.They’ll also give you a valuation, host viewings and deal with negotiations.

These can all be essential services for foreigners selling property in Barbados while living abroad, or other situations where it’s not possible to be there yourself in person.

If you do want to use a property agent, make sure they are licensed and registered with the Barbados Estate Agents and Valuers Association (BEAVA) or another recognised body. This ensures they meet the required professional standards.

3. Market your property

Now it’s time to get your property onto the market and start attracting buyers. Before you do, it’s a good idea to declutter, deep clean and ‘dress’ your property ready for sale.

Once the property is looking its best, your estate agent can arrange for photographs to be taken. They should also handle most if not all of the advertising activity, but private sellers will need to make sure they list their property in as many places as possible.

Here are some of the most popular real estate websites in Barbados:

• terracaribbean.com
• cariblist.com
• barbadospropertysearch.com
• chestertonsbarbados.com
• hannahproperties.com.

4. Negotiate the price and accept an offer

Once your property is listed, you or your estate agent can host viewings - and hopefully some offers will start to come in.

Negotiations on price are very common in Barbados, so you need to be prepared to entertain sensible offers and enter discussions on the final selling price.

It’s a good idea to ask for the final offer to be submitted in writing, so that you have a record of it.

5. Appoint a solicitor

Known as an attorney-at-law in Barbados, your solicitor will handle the legal aspects of the sale. This includes checking, drawing up and translating documents, and making sure all the paperwork and procedures are done according to the letter of the law.

6. Sign and exchange contracts

Once an offer has been accepted and legal work (including searches) has been conducted, a contract of sale will be drafted. Once signed by buyer and seller, this forms a legally binding contract. Contracts are exchanged, and the buyer pays a deposit - usually of around 10%.²

7. Prepare for completion

After contracts are exchanged, there’s a due diligence period in which attorneys for both sides can complete final checks. Financing for the purchase is also finalised by the buyer.

A completion date is agreed, on which the Deed of Conveyance is signed. . The title deed is registered in the buyer’s name with the Land Registry and you’ll receive the final balance.

You might want to do some preparations for this, such as opening a local account. If you’re not in the country, you’ll need to research the best and most cost-effective way to receive large sums from abroad.

Is now a good time to sell in Barbados?

Whether or not it’s the right time to sell your Barbadian property will depend on your circumstances. This includes how much you originally paid for the property and how much prices have risen in the region.

But generally speaking - it could potentially be a good time to sell. Prices are stable, especially in prime locations such as the West Coast. There’s demand from investors looking for long-term rental and tourist properties, and rising interest from first-time buyers in areas like St. Philip and St. Lucy.³

How long does it take to sell property in Barbados?

The time it takes to sell a home in Barbados can vary. But on average, it takes between 3-6 months,⁴ so a similar timeframe to selling property in the UK.

The exact time though may depend on the complexity of the transaction as well as the region - as properties located in in-demand areas typically tend to sell much faster.

Do you need a lawyer or a solicitor to sell property?

It’s strongly recommended to appoint a solicitor specialising in real estate or conveyancing work in Barbados.

They can draw up documents, check over conditions of contracts, give you advice about the selling process and so much more.

This could make your property sale go more smoothly and crucially, help you avoid a costly mistake.

Do you need a Barbados bank account to sell property in Barbados?

It’s not a legal or mandatory requirement to have a local bank account to sell property in the country - although you may find it easier with one.

You’ll need to get in touch with banks in Barbados to find out what the requirements are and if you’re eligible for an account.

You may be able to use an international account or even an offshore account for your property sale, or perhaps your existing current account with a UK bank.

Another thing to note is that international transfers could get expensive, especially if the provider adds a margin to the exchange rate.

Consider checking out Wise to handle your international large transfers with mid-market exchange rates and low, transparent fees*.

Taxes and costs when selling a property in Barbados as a non-resident

Now we come to the important question - how much will it cost you to sell a property in Barbados?

Below, we’ll run through the main fees and taxes you need to know about:⁵

Tax/fee name	Rate/fee⁵
Real estate agent commission	4% to 5%
Property transfer tax	2.5%
Land tax	Varies depending on property value
Land surveyor’s fee	Approx. $1,500 BBD
Stamp duty	1%
Legal fees	Varies, usually around 1% to 3%

Real estate agent fees

While it varies, you can expect to pay your real estate agent commission of around 4% to 5% of the total sale price.⁵

Property transfer tax

In Barbados, property transfer tax is paid to the government when ownership of a property is transferred from one party to another.

If it’s just land you’re selling, you’ll pay a flat rate of 2.5% in property transfer tax.

To sell a property and land together, the first $125,000 BBD is exempt from tax - with a rate of 2.5% on any amount above this.

Land tax

Land tax may also be due when selling a property. The rate and amount will vary depending on the assessed value of the property, and whether you’re up to date with payments. You can check your latest land tax bill to estimate this fee.

Land surveyor’s fee

A land survey is a requirement when selling a property in Barbados. The cost of commissioning a survey from a professional land surveyor varies, but you can expect to pay around $1,500 BBD.

Stamp duty

When selling property in Barbados, taxes must also be factored into your overall budget, as well as fees.

The good news is that there is no capital gains tax in Barbados - this is a tax on the profits made from selling assets like real estate. But the bad news is that there is stamp duty, and unlike in the UK, the seller has to pay it rather than the buyer.

At present, stamp duty is set at a flat rate of 1% of the total sale price.

Legal fees

It’s always recommended to use a solicitor (known locally as an attorney-at-law) when buying or selling property in Barbados. The cost of this will vary, so you’ll need to get some quotes.

But on average, you can expect to pay around 1% to 3% of the total sale price in legal fees.

Does owning property in Barbados make you a tax resident?

For anyone considering moving to Barbados (or staying there if you’re a temporary resident), it’s useful to know about tax residency and how it relates to property ownership.

Simply buying property in Barbados doesn’t automatically make you a tax resident in the country. Instead, it’s based on how much time you spend living in the country.

Like many countries, Barbados has something called the 183-day rule to determine tax residency status. You’re considered a tax resident for the year if you spend 183 days or more in the country within that calendar year, or if you’re a permanent resident in your Bajan home.⁶

Transfer your property sale proceeds home with Wise

Once the deal is done, you’ll need to work out the best way to transfer the proceeds from your overseas property sale.

If you don’t live in Barbados, you’ll need to send the money back home to the UK. Use your bank to do this, and you could lose out to high transfer fees and poor exchange rates.

Luckily though, there’s an alternative solution available. Use Wise to send moneyto 140+ countries, and you’ll get mid-market exchange rates and low, transparent fees*.

It’s quick, reliable and secure, even to transfer large amounts. Wise uses sophisticated security and anti-fraud measures to protect your money.

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Learn more about sending a large amount transfer with Wise in our video below:

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After reading this handy guide, you should have all the essential info you need to prepare your property and get it on the market.

If you’re new to the country or aren’t living there, it’s strongly recommended to work with local experts - including reputable local estate agents and attorneys. They’ll help you sell quickly, get a good price and ensure all legal aspects are covered, so that your sale goes smoothly.

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Sources used for this article:

1. Barbados Dream Properties - Guide to selling property in Barbados
2. Serenity Properties - The Real Estate Sale Process in Barbados: A Step-by-Step Guide
3. Barbados Dream Properties - Blog - Now is a good time to buy in Barbados
4. Barbados Dream Properties - Guide to buying property in Barbados
5. Barbados Real Estate 246 - Sellers Guide
6. Nomad Capitalist - How to Establish Tax Residence in Barbados 2025

Sources checked on 15-Oct-2025.