How to Use the Property Costs Calculator
A field-by-field guide to estimating stamp duty, legal fees, and total closing costs for buying property in the Cayman Islands.
What This Calculator Does
The Property Transaction Costs calculator estimates the total amount of cash you need to complete a property purchase in the Cayman Islands. It accounts for:
- Government stamp duty on the sale and mortgage
- Real estate agent commissions
- Bank fees and loan disbursement deductions
- Legal/conveyancing fees
- KYD-denominated government fees (converted at bank FX rates)
- First month strata and any vendor backpayments
All results are shown in US Dollars. Fees originally in Cayman Dollars (KYD) are converted using the bank FX rates you specify.
Purchase Details
Purchase Price (USD)
The agreed sale price of the property in US dollars. This is your starting point for all calculations.
Down Payment (USD)
The cash amount you are putting towards the purchase. The remainder will be financed by a bank loan.
Deposit Rate
Percentage of the purchase price paid to the vendor when signing the sale agreement. This is deducted from what you owe on closing day.
First Month Strata Fee
Monthly strata (HOA) fee for the property, payable at closing. Covers common area maintenance, insurance, and amenities.
Chattels (USD)
Value of movable items included in the sale (furniture, appliances, fixtures). This amount is deducted from the stamp duty base, reducing your tax.
Property Valuation (USD)
The bank's appraised value of the property. Stamp duty is calculated on the higher of the purchase price or the valuation. If the valuation is lower than the price, it doesn't reduce your stamp duty.
Rates & Commissions
Stamp Duty on Sale
Government transfer tax applied to the property sale. Calculated on MAX(purchase price, valuation) minus chattels, then converted to KYD.
Stamp Duty on Mortgage
Government tax on the mortgage document itself. Applied to the bank loan amount.
Vendor Agent Commission
The seller's real estate agent fee, paid by the vendor but deducted from the sale proceeds.
Buyer Agent Commission
Your real estate agent's fee. Sometimes split from the vendor's commission, sometimes an additional cost.
Bank Commitment Fee
A one-time fee the bank charges for committing to the loan. Deducted from your loan disbursement.
FX Rates & Government Fees
USD to buy 1 KYD (Bank buy rate)
How many US dollars the bank charges you to purchase 1 Cayman dollar. Used for fees denominated in KYD.
USD received selling 1 KYD (Bank sell rate)
How many US dollars the bank gives you for 1 Cayman dollar. Used to convert stamp duty amounts.
Valuation Fee (KYD)
Fee for the bank's property valuation/appraisal service. Paid in Cayman dollars.
Land Registry Fee (KYD)
Government fee for registering the property transfer at the Land Registry.
Professional Charges (USD)
Lawyer/attorney fees for handling the conveyancing (legal transfer of the property).
Sundry Expenses (USD)
Miscellaneous small costs (courier fees, document copies, notarization, etc.).
Backpayments
Strata / Electricity / Water
Outstanding utility or strata charges owed by the seller that may need to be settled at closing. Usually zero for new builds or when the vendor is current on payments.
Understanding the Results
The right side of the calculator shows five result cards. Here's what each one means:
Closing Summary
Shows what you owe the vendor on closing day: purchase price minus the deposit you already paid, adjusted for agent commissions.
Expenses Payable on Closing
Additional costs beyond the property price: stamp duty, government fees (converted from KYD to USD), lawyer fees, and first month strata.
Financing
Calculates how much bank financing you need. Shows both "ex costs" (just the property shortfall) and "with costs" (including closing expenses in the loan).
Bank Disbursements
Fees your bank deducts from the loan before giving you the money: mortgage stamp duty, commitment fee, document prep fee, and upfront KYD fees.
Final Summary
The bottom line — total cash you need to bring, and any surplus (cashback) remaining in your transaction account after everything is paid.
Tips for Accurate Estimates
- Use the "Load Sample" button to see a realistic example with typical Cayman values pre-filled.
- Stamp duty is calculated on the HIGHER of purchase price or property valuation — entering a lower valuation won't reduce your duty if the price is higher.
- Chattels (furniture, appliances) are deducted from the stamp duty base. Including a reasonable chattels value can meaningfully reduce your tax.
- The FX spread matters — banks charge different rates to buy vs. sell KYD. The calculator accounts for this asymmetry.
- If you're buying without a mortgage (cash purchase), set Down Payment equal to Purchase Price. Bank-related fees will be zero.
- Agent commissions vary — confirm the split with your real estate agent before relying on default percentages.
How Stamp Duty is Calculated
Step 1: Determine the taxable base
Taxable Base = MAX(Purchase Price, Property Valuation) − ChattelsStep 2: Convert to KYD and apply the rate
Stamp Duty = Taxable Base × Bank Buy Rate × Duty Rate ÷ Bank Sell RateThe FX conversion accounts for the bank spread — you buy KYD at the higher rate, and the result is converted back to USD at the lower sell rate.
Disclaimer: This calculator provides estimates only. Actual costs may vary depending on your bank, lawyer, property type, and current government fee schedules. Always confirm figures with your conveyancing attorney and financial institution before committing to a purchase.