Wealth and Lifestyle Properties International (Cayman) Ltd (WALPIC) is a wholly owned Caymanian company. The company was formed to provide a wide range of services related to the purchase, rental and management of real estate in the Cayman Islands and overseas. The main focus of practically all real estate companies is property sales. The main focus of WALPIC is to be a service oriented company that provides a level of comfort for every client regardless of the size of their investment.
There are no fixed term limits on our listing agreement. The client can withdraw the agreement at any time in writing. The agreement runs until the property is withdrawn or until it sells. Most companies want a specific time, normally one year with a renewal period of at least six months and the property can’t be withdrawn unless there is a mutual agreement between the seller and the listing company.
Our commission rates are negotiable and commissions can be fixed and not based on a gradient percentage according to the value of the property. This means that you know exactly how much you will be paying the company upon signing the listing agreement. The commission is fixed with 30% added if the property is sold through another agency.
There are no restrictions on the seller selling their property on their own. However, if the seller sells the property the amount of commission owed will be prorated over one year based on when the property is sold. If the seller does not sell the property after one year then the full commission is due if it is sold by WALPIC.
With regards to the buyer we assist them in the loan process for whatever bank they choose to work with. This includes getting valuations done, pension applications, inspections and completion of the paperwork for the bank.
Our documentation is clear and concise.
Our website will be predominantly video based which increases the level of presentation and marketability for the seller and gives the buyer a better visual image when they are searching for properties. The aim is to streamline the process of searching for properties and reduce the need to physically view every property. The process of coordinating the seller, tenant and buyer for showings of properties can be time consuming and frustrating at times, so our aim is to minimize this as much as possible. This will also be beneficial in selling to an overseas market without the client actually having to come to the Cayman Islands.
WALPIC is incorporated in the Cayman Islands under the Companies Law 2006 as a Limited Liability company. The share capital is US$50,000 with Spencer Merren being the sole shareholder as well as the CEO of the company.
The CEO Spencer Merren has a Bachelors Degree in Accounting and has over twenty years experience in that field. He obtained his Real Estate License in August 2008 and is a certified Real Estate Agent in the Cayman Islands through the Cayman Islands Real Estate Brokers Association (CIREBA). Being born in the Cayman Islands and having lived here all his life he has a vast knowledge of real estate here.
WALPIC is a full service company providing all related services through subsidiaries with regards to real estate purchases and investments as per below.