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HRE-42054

November 27, 2024

Hey Terrence Good morning,
I sorry to say but I have a bit of bad news to report to you. Me and Tadia have been doing some calculations interms of our monthly expenses both here and back home in Jamaica, I think it’s safe to say the monthly payments would be a bit much for us at this time. Moreover doing the calculations for eg, the land is worth $129,115 and we will both be paying $12,852 for the year, now that multiplied by 30 years is $385,560. With a fixed interest rate it won’t be more but still a bit too steep for us as my role over will be in about 2 years and it’s a gamble whether I will be able to stay over that time or not. Leaving Tadia alone to pay and if Something happens out of the blue and we can’t pay we lose what we have paid and still won’t get the land. So long story short with all due respect to you sir, I appreciate and honor you for your time and effort in assisting us but I don’t think that financially this is a good decision to make

[7:53 am, 27/11/2024] Easy Lot: Good morning guys. Yeah, I appreciate the honest feedback. Keep in mind if you have 50,000 invested you can use it towards your residency if you were going to apply for that. Alternatively, you could invest in Little cayman Inquiry where the island is growing. I can get you in over there for $400 a month. It might not be where you want to build but it’s certainly an investment that you can hang onto and sell at a later point.
[7:55 am, 27/11/2024] Pool Skimmer: Goon morning Ok sir thanks will think about it thanks again

Muted Watch: 42 sec How buying land in Cayman actually works

Section 27

Who is responsible for stamp duty on my land purchase?

In the Cayman Islands, the buyer is typically responsible for stamp duty on property purchases (if applicable). This payment is typically due after you pay off your land. However, there are exemptions available, such as for first-time Caymanian property buyers.

For more information, please visit: https://www.caymanlandinfo.ky/Services/VEO/Stamp-Duty

Section 13.2

What is a fill notice and when do I need it?

A fill notice is a document informing us you’re ready to begin to fill your site as per planning regulations. You will request this from the developer at the appropriate time.

Section 13

Can you explain what it means to fill and clear the plot as per the fill notice?

You are responsible per planning regulations for preparing your lot under the specified requirements. This will include filling and clearing your land. If you require more detail on this please refer to the planning website for more information.

Section 9.4

Is there a fee for paying off my land early?

Easy Lot offers a fixed-rate financing program for predictability. There is an early termination fee if you pay off your loan within the first 60 months. This fee is a 15% percentage of the remaining interest on your loan balance.

Section 9

What are the Fees & Expenses in the sales agreement and why do these pertain to me?

This section only applies to you should you default on your payments. To avoid this contact us if you’re having trouble paying, so we can help.

Section 5.1.2

Can I make extra payments towards my loan?

Absolutely! You can make additional payments towards your principal at any time. This can help you pay off your land faster.

Section 4.2.2

How do I make my deposit and monthly payments to Easy Lot?

Easy Lot accepts secure deposits and monthly payments only through online transfer to our CIBC First Caribbean International Bank account.

  • Beneficiary Account Name: High Rock 67 Ltd
  • Beneficiary Bank: CIBC First Caribbean International Bank Cayman Ltd
  • Beneficiary Account No: CHECKING Account: 10488412
  • Swift Code : FCIBKYKY
  • Currency: KYD (Cayman Dollars)
  • Bank Address: 25 Main St, George Town, Cayman Islands