Buying Procedure

If you’re thinking about purchasing real estate in Aruba, RE/MAX Advantage Realty will guide you to the right path.
Being top of the list in the real estate sector, you can be confident that RE/MAX Advantage Realty will always be at your service!

We specialize in :
Residential Homes - Condominiums
Vacant Land / New Construction
Commercial Properties
Apartments
Business Opportunities
Vacation Rentals (Timeshares)

Important information you need to know:

  • All non-residents can buy land or a house in Aruba and undergo the same process as the Aruban residents.
    Non-resident can buy a home on property land as well as on lease land. Lease land is owned by the Land of Aruba and the lease is for 60 years.
    The Government of Aruba through Domeinbeheer (Directorate of Land Administration) gives out the long-lease properties. The long-lease properties are given out for a period, usually, of 60 years.
  • The long-lease fee is determined at the beginning of the contract and is fixed for the duration of the long-lease period.
    After the 60 years, the lease period will automatically be extended with another 60 years. The only thing that might
    happen when the lease period is extended is an increase in the yearly fee.
  • The long-lease fee is collected yearly and is 6% of the appraised value, determined by Directorate of Land Administration.

The fee varies based on location and size of property and is fixed for the period of 60 years. Long-lease fees range between
 $200 and $600 per year.

Most of the houses situated in Arashi, Malmok, Tierra del Sol, Topaz, Safir, Esmeralda, Ruby, Opal, Salinja Cerca and Palm Beach
are built on lease land. Many non-residents have bought there and will keep buying in those areas although the homes are built on lease land!

The reason many non-residence and residence keep buying houses in those areas although the land is a lease-land is because of theirlocations.
These areas are close to the spas, golf course, tennis courts and shopping malls. Another huge advantage is the distance to the ocean.

You buy a house that is built on property land that means that you own the land.  

The property tax is 0.04 percent of the appraised value, determined by Directorate of Land Administration.

Closing Costs
When you are considering buying a house in Aruba, you have to realize that there are additional costs involved besides the selling price.
These additional costs, the closing costs, are approximately 5 to 8 percent depending on the selling price.

The closing costs are calculated as follows:
(One time payments)

Transfer tax:
3 or 6 percent of selling price depending on value
3 percent is when selling price is $140.449
Notary fees transfer deed: Approximately 1 percent of selling price
Notary fees mortgage deed: Approximately 1 percent of selling price (If applicable)

Buying Process

A preliminary Sale /Purchase Agreement with the owner of the property should be signed, which contains the basic terms and
conditions applicable for the sale/purchase of the property. The Seller is committed to sell the property to you after signing this agreement!
A security deposit of 10 percent of the Sale and Purchase agreement will be required in most cases. The Security Deposit amount should
be transferred to the Notary of your choice; we can assist you if needed.

  • The Notary may typically require the following documentation to process the sale/purchase agreements:
  • Copy of a valid identification card.
  • Information of sale form and personal data form filled in (provided by the notary)
  • Copy of the security deposit slip.
  • Notary process may take maximum 6 - 8 weeks; the charges vary depending on complexity of the transaction.

You will be contacted by the notary or your broker for an appointment to sign the deed and make final payments prior to the appointment date.
It is recommended that your financing is in place by the time that the official Deeds of Sale/Purchase and Transfer of Property are signed at
the notary office.