Home buying closing cost calculator
See the full cash you need to buy a home, beyond the down payment: the government tax on the transfer, legal fees, mortgage costs, survey, insurance and more. Each line says whether it is set by law or an estimate.
Cash needed
How this is calculated
Closing costs are added up line by line. Each line is labelled:
- Set by law government taxes and duties, from the official rates.
- Estimate typical professional and bank fees; your actual quotes will differ.
- Your figure amounts you entered.
| Band | Charge |
|---|---|
| Up to $300,000 (zero-rated) | 0% |
| $300,000 – $600,000 | 4% |
| $600,000 – $700,000 | 8% |
| $700,000 – $1,000,000 | 9% |
| Over $1,000,000 | 10% |
| Band | Charge |
|---|---|
| $0 – $100,000 | 2.5% |
| $100,000 – $300,000 | 4% |
| $300,000 – $500,000 | 6% |
| $500,000 – $700,000 | 8% |
| $700,000 – $1,000,000 | 9% |
| Over $1,000,000 | 10% |
| Band | Charge |
|---|---|
| Over $0 | 10% |
Legal fees are estimated at 2.5% of the price, plus 10% VAT.
Worked example
A buyer purchasing a $400,000 home with a $340,000 mortgage:
- VAT on the transfer: $12,000.00
- Legal fees (typical, incl. VAT where configured): $11,000.00
- Bank / commitment fee (typical): not configured
- Valuation / appraisal (typical): not configured
- VAT on the mortgage: $3,400.00
- Closing costs: $26,400.00
- Cash needed including the $60,000 down payment: $86,400.00
Buying as a non-Bahamian
Non-Bahamians buying property may need a permit or approval, depending on the property's size and use. This calculator doesn't include those costs. See Bahamas Investment Authority.
Shipping furniture or appliances for the new home? Estimate import duty on duty242.com.
Frequently asked questions
Who pays the government tax on a property sale?
By custom the buyer and seller often share it, but the split can be negotiated in the sale agreement. The calculator uses the customary buyer share, shown next to the line.
Are there concessions for first-time buyers?
First-time Bahamian homeowners may qualify for reduced or no tax on purchases up to a set price. Choose your buyer status and the calculator applies the concession where it is configured.
How much are legal fees?
Attorneys usually charge a percentage of the price, plus VAT. The figure here is a typical estimate; ask your attorney for a quote.
What cash do I need on closing day?
Your down payment (the price minus the loan) plus all the closing costs. The total at the bottom of the results adds them up.
Sources
- Value Added Tax Act – Third Schedule (VAT on real property) and First Schedule (zero-rated first homes)
- Value Added Tax (Amendment) (No. 2) Act, 2026 – first-home band raised to $600,000
- Department of Inland Revenue – First Home Exemption
Rates last verified: 2026-10-07. Rates effective from 1 July 2026. Rate changes log
This is an estimate for planning only. Confirm figures with the relevant government department, your bank or a qualified professional before making decisions. See our terms.