Property transaction costs are low in Gambia
How high are realtors´ and lawyers´ fees in Gambia? What about other property purchase costs?
Transaction Costs |
||
Who Pays? | ||
Stamp Duty | 5% | buyer |
Legal Fee | 2% - 3% | buyer |
Real Estate Agent´s Fee | ||
Costs paid by buyer | 7% - 8% | |
Costs paid by seller | ||
ROUNDTRIP TRANSACTION COSTS | 7% - 8% | |
See Footnotes Source: Global Property Guide |
How difficult is the property purchase process in Gambia?
Footnotes to Transaction Costs Table
The round trip transaction costs include all costs of buying and then re-selling a property - lawyers´ fees, notaries´ fees, registration fees, taxes, agents´ fees, etc.
Stamp Duty
Stamp duty on transfers of real property is levied at around 5% of the property value.
Legal Fee
Legal fees are around 2% to 3% of the property value.