5 Things to know about Buying Property in Samoa
There are more than 5 things you should know about the process of buying a Property in Samoa but listed below are the things that you will need to know to start the procedure.
- A search will need to be conducted at MNRE, Ministry of Natural Resources & Environment. A search of title is conducted at MNRE determine ownership and to check for any encumbrances to the property. The search is done by Folio Reference of the Plan and Lot number.
- A lawyer prepares the sale and purchase agreement and notarises the deed of transfer. A sale agreement is prepared by a lawyer. The participation of a lawyer is mandatory.
- An abstract for the stamp duty is prepared at MNRE. The abstract prepared at MNRE determines the value of the property.
- Payment of Stamp Duty at MNRE. As at 2012, the Stamp Duty Amendment Act 2012 rate varies according to the property value. For Example Below are the calculations for Stamp Duty :
< $50,000 WST = 1%
>$50,000 WST and < $100,000 WST = $500 + 2% in excess of $50,000
> $100,000 WST and < $200,000 WST = $1500 + 3% in excess of $100,000
> $200, 000 WST = $ 4500 + 4% in excess of $200,000
5. Contact us to discuss your plans.
Ph +685 21405
email: navigatorsamoa@gmail.com
