The Purchasing procedures in trinidad is for Residents/Citizens as well as Non-Residents the same, again no matter what nationality or what country you reside.

Once you made a decision to purchase a property in Trinidad or Tobago, the first step to take is to make a 10% deposit, as guarantee of good faith, and to prevent the property to sell to someone else. At that moment we enter into an AGREEMENT of SALE, in which is stated that both Parties (Vendor and Purchaser) have 90 days time to organize each their side of the AGREEMENT. This means that the buyer has to organize a local Attorney (read further for details), and the balance payment within this time period as well, so if the buyer has the money cash available, no problem, the sale can be complete on or before the 90 days.

If the buyer has to get a Mortgage, it is important to find out if a Mortgage will be approved before making a deposit, because if the buyer is in default, the deposit will be forfeited.

This deposit will be held in Escrow, by the Broker/Agent. An Escrow is a written agreement (or property or money) delivered to a third party, or put in trust by one party to a contract, to be returned after fulfillment of a specific condition.

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