{"id":1693,"date":"2015-11-14T19:47:24","date_gmt":"2015-11-14T19:47:24","guid":{"rendered":"http:\/\/new.jpfco.com\/dir\/?p=1693"},"modified":"2015-11-14T19:47:24","modified_gmt":"2015-11-14T19:47:24","slug":"land-bank-fees-worth-it","status":"publish","type":"post","link":"https:\/\/www.jpfco.com\/dir\/land-bank-fees-worth-it\/","title":{"rendered":"Land Bank Fee&#8217;s Worth It"},"content":{"rendered":"<p>Just got back from an amazing trip to Bermuda, where my mom grew up, for her 70th birthday.  An amazing island, but not cheap.  Real estate prices are a bit higher than Nantucket, but the cost of entry is massively higher.  We think the 2% Land Bank fee, albeit for a top notch purpose, is a big hit, try to buy on Bermuda.  Not only are only certain properties available to non-Bermudians, the closing costs are huge.  A non-Bermudian needs to buy a license to buy for 12.5% of the purchase price, about 6% for stamp duties, about 1% for legal and sometimes part of the commission.  So, to get your foot in the door, you&#8217;ll have to pay roughly another 20% of the purchase price.  I&#8217;ll pay the 2% Land Bank fee, which ultimately increases property values, any day of the week.  <\/p>\n<p>Oh yeah, almost forgot, there is a review process to qualify you to buy the license to buy; the Bermuda government can deny you the license if you are not financially independent or not considered a desirable person to own property.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just got back from an amazing trip to Bermuda, where my mom grew up, for her 70th birthday. An amazing island, but not cheap. Real&hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1693","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/1693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/comments?post=1693"}],"version-history":[{"count":1,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/1693\/revisions"}],"predecessor-version":[{"id":1694,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/1693\/revisions\/1694"}],"wp:attachment":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/media?parent=1693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/categories?post=1693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/tags?post=1693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}