In the real estate market, there is an exclusive niche in the buying and selling of islands. As with any major purchase, research is the key in achieving the best possible outcome. While most of us are prepared to invest time in researching such purchases as luxury homes or estate properties, the technical aspects of purchasing or selling an island must be left to the experts.
Finding that perfect island paradise requires a complex set of strategies that involve such topics as:
With close to 20 years in international marketing and sales, Scott Piercy brings the commitment, integrity, and expertise that are needed to put all the pieces together to make the purchase or sale of your island an exhilarating and stress free experience. Whether you are looking for your own paradise island get-away, a permanent relocation, or an investment opportunity, let Scott and his team walk you through every aspect of your transaction. From one of the many scenic islands off the coast of British Columbia, Canada, to tropical islands off Costa Rica, the Cayman Islands or anywhere around the globe, Scott understands the complexities that are involved in the buying and selling of islands.
One of the crucial aspects in island real estate, deals with Title which in most cases should include 100% ownership of the entire property. There may be some acceptable exceptions where there may exist a lighthouse owned and operated by the local government. Outside of such exceptions, there are a number of areas that fall under Title including whether or not there are any building restrictions or environmental laws that may affect other aspects of the purchase or sale. Other considerations that typically fall under the topic Title can include: transfer or purchase tax, income tax in a resale situation, etc. Factors such as the condition of existing buildings or adding structures like a wharf may also be subject to specific legislation.
Another important reason that makes it imperative to deal with a professional who has specific expertise in island real estate is for all the things that many purchasers don’t ever think about such as access to medical treatment. Access to medical/first aid help will often depend on what the primary use for your new island will be. If you are purchasing an island for investment purposes that has an operational resort on it, in most cases there will also be medical and fist-aid services located right on the premises. If, however, the intended use is for living on or is being purchased with resale in mind, the proximity of a fully functional clinic or even a hospital will need to be a consideration.
Some knowledge of the type of insects, wildlife, and plant life that exists on an island is certainly useful to have. While not necessarily a deal-breaker, purchasers that intend to live on an island should have some idea of what they will be living with – especially if anyone has serious allergies. Prospective buyers may also ask for this kind of information so it is always best to have this information.
There are also special and very specific legal information that is critical to have before purchasing (or selling) any island property, especially if that purchase is in a foreign country. A Free Market approach exists in many countries such as Canada, Germany, United States, Great Britain, France, and others. This typically means that if you have the financial means, you can purchase pretty much whatever you like, including an island. Still it is important that one is familiar with tax and inheritance laws, deed transfer, etc.
If, on the other hand, you are considering the purchase of an island where Restricted Market laws are in effect, the advice of experts is vital. In many countries, governments will have the final say on approving or rejecting the sale or purchase of any property, including nearby islands. Resale of any property in a Restricted Market may be of special concern in that selling to a foreign buyer may require a government permit; if that permit is denied for any reason, the sale will be restricted to local buyers which can significantly affect the sale price.
One of the final issues that you will want detailed information about is that of Access. Some questions that will need to be answered include:
In some cases purchasers may want to have a cottage or home on the mainland where they can stay overnight, have a vehicle to run errands, etc.
Whether purchasing an island is an investment strategy or a private get-a-way dream come true, there are many factors that require specific and special consideration. The details in every sale and purchase of an island are numerous and complex. Scott Piercy and his team of real estate professionals have the knowledge and experience to make the process as seamless as possible. Scott has built his professional reputation on his integrity and combines that with a results-oriented approach. His years of association with the best technology professionals around the world ensures that sellers will receive the best international exposure and purchasers will be viewing only those properties that fit their chosen criteria. Privacy, discretion, honesty, and superior attention to detail has allowed Scott Piercy and his team to rise to the top of the international real estate community. They welcome your inquiries and look forward to showing you the best island properties available; anywhere in the world!