Selling: Closing Secured Offers

Your RE/MAX professional will bring you qualified buyers in the form of a signed “Offer to Purchase” which is a simple 2-page document outlining the terms and conditions of the purchase. Once this Offer to Purchase has been agreed and signed by both sides the Buyer has 7 days to wire a 10% deposit to their TCI Lawyer. This deposit is held in trust with the Buyers TCI Lawyer while the lawyers for each side reach an agreement on the official Purchase and Sale Agreement as per the details of the Offer to Purchase. Once the Purchase and Sale Agreement is agreed and executed by both parties the Buyers 10% deposit is transferred to the Sellers’ Lawyer and becomes non-refundable. The balance of the closing funds will be due on the agreed final closing date within the Purchase and Sale Agreement. For final closing you do not have to be present. Your RE/MAX professional will prepare a detailed inventory list (if applicable) to accompany the purchase and sale agreement.

Final closing can be completed on the date agreed by both parties in the Purchase and Sale Agreement by sending notarized documents via courier service.

All closing funds will be held in escrow until Title is securely transferred into the Buyer’s name and officially registered at Land Registry in Grand Turk.

This process usually takes 14-21 days to complete after final closing. Once land registry documents of the transaction are completed and official, the balance of the closing funds are released to the Seller. A typical transaction takes approx. 30-60 days to complete.