Frequently Asked Questions
Got Questions? We've Got Answers! Check out our FAQ for quick solutions and helpful info.
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How soon can I begin building on my lot?
Before construction starts on your Easy Lot property, obtaining a building permit is essential.
Permits: Building permits are required from the Cayman Islands Department of Planning. The application process typically takes between 6 and 18 months, depending on your project’s complexity. Once you own your land, you can initiate the permitting process.
What is the interest rate for Easy Lot's financing program?
Easy Lot offers a fixed interest rate of 9% for our Owner Financing Program. This translates to predictable monthly payments throughout your loan term.
What is the registered name of the development?
High Rock 67 – Block 67A, Parcel 44.
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
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.
Owner Financing Approval Time
What are the Fees & Expenses in the sales agreement and why do these pertain to me?
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.
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.
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.
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
Can I make a larger down payment than the minimum required?
Absolutely! Easy Lot welcomes larger down payments. This will help you pay off your loan faster. The choice is yours!
Can I use my lot for storage, such as parking a container, boat, or other equipment?
No, our covenants do not allow for this.
Is there a minimum square footage requirement for building a home on my lot?
Easy Lot does have a minimum size requirement for homes built in High Rock Estates. The minimum home size is 1,200 square feet.
Are there Strata fees associated with High Rock Estates?
High Rock Estates is designed to be FREE of Strata FEES.
What type of zoning does High Rock Estates have?
High Rock Estates is zoned for low-density residential development.
Can I build a duplex on my Easy Lot property?
Easy Lot strives to provide accurate information, but building code details are best obtained from the Cayman Islands Department of Planning.
The zoning for High Rock Estates allows for low-density residential development, which may permit duplexes on lots exceeding 12,500 square feet according to the 2024 Development and Planning Regulations.