First steps…
Selling your home or investment property is a meaningful step. At Cranfields Property Bermuda Ltd we’re here to ensure the process is seamless, informed, and rewarding —every step of the way.
Here’s a step-by-step guide to what you can expect when selling your property in Bermuda:
Step 1: Preparing to Sell
• Contact us to arrange a Current Market Analysis (CMA). This will help you to determine a realistic and competitive asking price based on recent sales, current listings, and market trends.
• We will also request copies of all pertinent property documents to support your listing and ensure a smooth process.
• We recommend arranging boundary staking prior to going to contract, and we can provide a list of qualified local land surveyors.
Step 2: Listing Your Property
• Once your CMA is complete and documents are in hand, we’ll prepare your listing, including:
o Professional photography
o A compelling property description
o Distribution on both local and international platforms
Step 3: Marketing & Viewings
• Your property will be promoted through:
o Targeted digital and print marketing
o Email campaigns
o Social media channels
• Private viewings will be arranged at times that are convenient for you, your tenants (if applicable), and interested prospective buyers.
Step 4: Receiving & Reviewing Offers
• When a buyer makes an offer, we:
o Present the details to you clearly and promptly
o Guide you through the review process
o Continue to advise and represent your interests during negotiations
Step 5: Accepting an Offer
• Once an offer is accepted:
o You contact your lawyer to ask them to represent you in the sales transaction process.
o Your lawyer will draft the Sale and Purchase Agreement (SPA) and send it to the buyer’s attorney for review.
o Any necessary amendments are made in consultation with both parties and their legal counsel.
Step 6: Signing the Contract (SPA)
• When the SPA is finalised:
o The Purchaser signs the SPA and pays a 10% deposit, which secures the agreement.
o You (the Vendor) sign next.
• At this point, the Sales Contract becomes legally binding.
Step 7: Fulfilling Your Obligations
• Before closing, you’ll need to:
o Ensure vacant possession (unless agreed otherwise)
o Complete any agreed-upon items or conditions
o Coordinate with your attorney to provide final documentation and updates
Step 8: Closing the Sale
• On the closing date specified in the SPA:
o The buyer’s attorney transfers the final balance to your attorney (less the 10% deposit).
o Apportioned land tax, maintenance fees (if applicable), and other adjustments are settled.
o Keys and ownership are formally transferred, and the transaction is complete.
At Cranfields Property Bermuda Ltd., we bring experience, integrity, and care to every sale. Our team is committed to delivering the best results for you with clarity and confidence.
📞 +1 (441) 234 5114
📧 Sales@CRANFIELDSPROPERTY.COM
🌐 CRANFIELDSPROPERTY.COM
This information is intended as a helpful guide. We recommend consulting your attorney for legal advice specific to your property sale.
