Procedure for Unit Sales in Bimini Bay

Pursuant to Article 5(d), Membership Obligation, "It shall also be the duty of every Owner to notify the Company (HOA) in writing at least Ten (10) days prior to the completion of a sale of his Unit indicating at the same time the full name and address of the Purchaser."

By way of serving this notice, Seller must also request and pay for an Estoppel Letter in the next step...

An estoppel is necessary to confirm financial standing and the status of the HOA dues and other related fees. Estoppel Certificate assures all parties of all financial obligations that may outstanding for the property.

The Estoppel Certificate must be requested at least 10 business days before the closing date at the time the Seller must notify the HOA.

SELLER requests & pays for the Estoppel Certificate. Buyer and closing attorney must verify the good standing with the HOA Assessments, and verify the last billing statement for utilities (water & electric) to ensure there are no outstanding balances.

Estoppel Fees: 

• Regular Estoppel: 10 business days, $299.00
• Rush Estoppel: 3 business days, $418.00

Instructions:

1. Contact accounting@biminihoa.com to request an online portal link. 
2. Reference the unit number and applicant's full name. 
3. Send payment confirmation and Estoppel requests via email to: 

              accounting@biminihoa.com 

BUYER and closing attorney, verify that the utilities have been paid. The utility provider will shutdown utilities until payment is received from the current owner.

Directly contact info@hydrobilling.com or +1 (866) 944-9376 to request change of owners as of closing date and to confirm that seller has paid the balance due.

 The HOA Board will review all submissions, which typically takes up to 7 business days. Pursuant to Article 5(a), that failure to notify the HOA "of any proposed transaction or assent as aforesaid provided nevertheless that NO such transfer or conveyance shall be valid unless the purchaser or transferee enters into an agreement (Rules & Regulations) to be bound by the terms of this Declaration" at the time the purchaser submits their application for membership.  The Closing of the unit sale cannot transpire prior to or without HOA Approval. 

All new buyers, including existing owners buying additional property, must complete the HOA Membership Application, and submit the required documents and fees. This also applies to long-term rental tenants.

Required Documents:

1. Completed HOA Membership Application Form
2. Police Record from local authorities Bahamas or USA
3. Signed copy of HOA Rules and Regulations.
4. Signed New Member Information Card with $150.00 Application Fee (non-refundable) 

Payment Instructions:

1. Contact accounting@biminihoa.com to request an online portal link. 
2. Reference the unit number and applicant's full name. 
3. Send payment confirmation and required documents above via email to: accounting@biminihoa.com 

Upon completion of the Estoppel Certificate, the Property Management provider will deliver the certificate to the Seller.

Upon receipt of 1) the Membership Application, 2) the signed rules and regulations, and 3) the police report; the HOA's Property Manager or Asst. Property Manager will verify the documents, deliver the membership approval letter to the Purchaser/Applicant and send a copy to the Closing Attorney.

After the estoppel is issued, and at closing, the buyer must pay a capital contribution equal to the current quarterly HOA dues at the time of closing. 

Payment Instructions:

1. Contact accounting@biminihoa.com to request payment instructions, in this case a wire transfer or ACH is the most expedient payment option. Mailed checks can take up to 10 days to clear. 
2. Reference the unit number and applicant's full name on the payment.
3. Send payment confirmation via email to: accounting@biminihoa.com 

Contribution capital is the buyer’s responsibility. 

The amount due will be shown on the Estoppel Certificate requested by the Seller. 

SELLER must provide the HOA a copy of the Bahamas Investment Board approval letter (for non-Bahamians) prior to Closing.

To protect your property from an unauthorized sale, ensure that a copy of the conveyance provided by the closing attorney at closing, along with all other supporting documents, are emailed to accounting@biminihoa.com. 

It is the SELLERS responsibility to ensure that this is given to the HOA; otherwise, purchaser will be denied access to ownership. Without an executed Conveyance, the HOA cannot recognize new owner(s).

Important Notes:

• Both buyers and sellers must follow and complete this procedure.
• No closing can transpire without a completed application, signed rules and regulations, estoppel certificate, capital contribution payment received, and a copy of a duly executed conveyance dated to the move-in date. Board Approval Letter will evidence that all these requirements have been met.
• Failure to comply may cause delays or denial of approval.

There are a significant number of homeowners whose conveyances have not been duly recorded or delivered to them.

The HOA has the duty to protect your unit from an unauthorized sale. Pursuant to Clause 27/28 of the Declaration of Condominium:

"Unit the purchaser or transferee shall notify the Condominium Association in writing of his interest in such Unit together with such recording information as shall enable the instrument by which such purchaser or transferee has acquired his interest to be identified in the said Registry of Records."

Without a properly recorded & stamped conveyance, at the time of sale, you will have significant work (delays) to do to get the conveyance recorded or to track down the recorded conveyance from the closing attorney.

The next section of this page will show you what to look for once you receive your recorded Conveyance & License Package. If your documents are not stamped like this, your conveyance may not be recorded. Contact the closing attorney to confirm the conveyance and license have been recorded.

It should not take longer than 3 months to receive the recorded Conveyance and License Package. The closing attorney is your only resource to track it down.

Property Tax

After purchasing a property, the new owner (or their legal representative) is expected to:

• Submit a "Property Tax Application for Assessment" form to the DIR.
   
• Provide the conveyance document (proof of transfer of title).
   
• Complete the Real Property Tax Declaration Form or use the online webform
   
• Include supporting documents like:
   
  • A copy of the title deed or conveyance
     
  • The land plan or survey
     
  • A copy of a government-issued ID
     

📍 These forms are available here:
👉 Real Property Tax Forms – DIR Bahamas