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02/01/13 - Havana Journal (blog) - Real estate group Point 2 Cuba lists homes for sale in Cuba

Rob Sequin | Havana Journal

Havana Journal is proud to post this exclusive interview with the
co-founder of a new real estate group in Havana, [1]Point 2 Cuba.

Point 2 Cuba was created by a group of young entrepreneurs following the
changes in real estate law in Cuba in November 2011 that legalized the
sale and purchase of real estate for Cuban citizens.

The group is based in Cuba with a focus on real estate for sale in Havana,
Matanzas and Varadero and have a number of Cuban real estate experts that
help buyers and sellers find each other.

Point 2 Cuba understands the complexities of Cuban law and works closely
with knowledgeable lawyers to ensure proper and legal real estate
transfers.

HJ How do you find real estate for sale in Cuba?

Most of the time homeowners that live in Cuba or their families abroad
contact us to help them sell their properties.

HJ Do you ask for exclusivity?

Just like real estate agents and brokers in other countries, [2]Point 2
Cuba always tries to get an exclusive listing.

HJ Can you explain the differences and/or similarities of buying/selling
real estate in Cuba vs. buying/selling real estate in the US or Canada?

The biggest differences are:

In Cuba you do not pay property taxes.

In North America there are financing institutions that help buyers to
finance their new house whereas in Cuba you can only pay with cash from a
Cuban bank account.

In North America people can own as many houses as they wish. In Cuba
(according to the law effective as of Nov. 2011) Cubans are limited to
owning one home in the city and another in the country, this is an effort
from the Cuban government to prevent speculative buying and the
accumulation of large real estate holdings by one owner.

In Canada (in accordance with the Canadian law) non-residents have the
same rights as residents and citizens of Canada in terms of buying, owning
or selling real estate in Canada. In Cuba only Cuban citizens and
permanent residents are allowed to sell and buy real estate.

HJ What is the biggest challenge in Cuba real estate?

OVERPRICED PROPERTIES. There are some home sellers that want to sell at
extreme prices, mostly because their property is the only asset that they
own and cause the owner's opinions of their properties to be influenced by
sentimental value. Most families believe their homes are worth a great
deal more than the average and they assume this should be reflected in the
sales price.

Unfortunately, it does not work this way. In the Cuban market, the risk of
an overpriced home does not only mean that the asking price will not be
met but there is also a risk of turning off potential buyers, since an
unreasonable price could stigmatize the property.

HJ Who is your ideal buyer?

Entrepreneurs that want to develop a business like a "Paladar" restaurant
or a "casa particular" bed and breakfast home.

HJ Can you describe the closing process?

Prior to the conclusion of the sale, the buyer must go to a Cuban bank to
make the deposit of the decided amount to pay (CUP, or "pesos cubanos") to
acquire the property. (This value should not be less than the legal value
of the property).

The buyer will receive a payment instrument (check) which will have to be
given to the seller in the presence of the notary in the formalization of
the act.

The Notary's service for this particular act has a value of 35.00 CUP, and
the stamp added to the document is worth 5 CUP or "pesos cubanos".

On the real estate transfer of ownership there is a levy of 4% on the
agreed value of the purchase, which must be paid by each of the parties
within 30 days.

HJ Where are your offices?

We meet with our clients in our office in Vedado, Havana or people can
call to our office in Canada at (905) 581-9948 to request any information
or to book an appointment.

House for sale in Santa Fe Havana

Point 2 Cuba recently listed for sale a three bedroom three bathroom,
[3]waterfront home in Santa Fe on the north coast of Havana. This home was
built in 1958 and has almost 3,500 square feet of living space.

The home has a garage, waterfront access, gardens and a swimming pool.

More information about real estate in Cuba

[4]Legal procedures for buying and selling real estate in Cuba by Point 2
Cuba's legal consultant Ingrid Rodríguez Escalante.

Visit the [5]Point 2 Cuba website, .(JavaScript must be enabled to view
this email address) or call them in Canada at 905 581-9948.

(Point 2 Cuba is an advertiser at HavanaJournal.com)

References

Visible links
1. Point 2 Cuba
        http://www.point2cuba.com/
2. Point 2 Cuba
        http://www.point2cuba.com/
3. waterfront home in Santa Fe
        http://www.point2cuba.com/property-santa-fe-maritime-business-opportunities
4. Legal procedures for buying and selling real estate in Cuba
        http://www.point2cuba.com/guides-legal-procedures-buying-selling-real-estate-cuba
5. Point 2 Cuba website
        http://www.point2cuba.com/


Original Source / Fuente Original:
http://havanajournal.com/business/entry/real-estate-group-point-2-cuba-lists-homes-for-sale-in-cuba/