THE EDITOR, Sir:
I WOULD like to see the Government implement in every parish a comprehensive list of every land owner in that parish and ways to access that list by potential buyers and real estate lawyers.
My observation is that lawyers in Jamaica don't do research. My experience of how real estate business should be handled is as follows:
The person selling or their representative asks a price; the potential buyer makes on offer; if the offer is accepted a down payment is required. Then a contract is drafted with a set time for closing. At closing the rest of money is to be paid. During that 90 days period all lien, loan, water bills etc. must be paid up and the title should be cleared and be ready for the new owner.
If the 90-day period expires and those things are not done, the seller has breached the contract; also if the 90-day period expires and the buyer cannot come up with the rest of money then they lose the down payment. So if the seller or their representative do not have all the things ready they should be
paying interest on the money to the buyer.
But what happens in Jamaica is different. The 90 days expires and nothing is ready and if you want possession of the property you have to pay what is known as 'early take over'; there is no such thing as that. It is not the buyer's fault so the buyer should not be taken for their hard earned dollars.
I am asking the Minister whose portfolio that is to look into the matter and not only look but fix the problem. The Government is losing foreign exchange and Jamaica could be reaping all that foreign exchange and land taxes.
I would like to emphasise to the Government that when these things happen the Government gets the blame, not the seller nor their representative.
I am, etc.,
STANLEY WALKER Jr
stanleywalkerjr@comcast.net
16 Fowler Street
Dorchester, Ma
Via Go-Jamaica
