{"id":2348,"date":"2022-06-19T19:34:53","date_gmt":"2022-06-19T19:34:53","guid":{"rendered":"https:\/\/pinnproperties.com\/?page_id=2348"},"modified":"2023-10-25T17:03:28","modified_gmt":"2023-10-25T17:03:28","slug":"buying-selling-process","status":"publish","type":"page","link":"https:\/\/pinnproperties.com\/buying-selling-process\/","title":{"rendered":"Buying  &#038; Selling Process"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"2348\" class=\"elementor elementor-2348\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3ab7b277 elementor-section-content-middle elementor-section-height-min-height elementor-section-items-top elementor-hidden-tablet elementor-hidden-mobile elementor-section-boxed elementor-section-height-default\" data-id=\"3ab7b277\" data-element_type=\"section\" 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href=\"https:\/\/pinnproperties.com\/property-search\/?status%5B%5D=for-rent\">Rental<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2193\"><a href=\"https:\/\/pinnproperties.com\/saintlucia\/\">Saint Lucia<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2370\"><a href=\"https:\/\/pinnproperties.com\/buying-selling-process\/\">FAQs<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-797\"><a href=\"https:\/\/pinnproperties.com\/contact\/\">Contact<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1546\"><a href=\"https:\/\/pinnproperties.com\/list-your-property-in-saint-lucia\/\">List Your Property<\/a><\/li>\n<\/ul><\/div>                <\/div>\n            <\/div>\n\n\t\t\t            <script>\n                ( function ( $ ) {\n                    'use strict';\n                    $( document ).on( 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{\n                                $( '.rhea-inner-5bec3505' )\n                                .removeClass( 'rhea-show-nav' );\n                            }\n                        } );\n\n                    } );\n                } )( jQuery );\n\n\n            <\/script>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0cbc886 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0cbc886\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-37d52b9\" data-id=\"37d52b9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9e3b1d4 elementor-widget elementor-widget-heading\" data-id=\"9e3b1d4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Buying Process<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bd3868b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bd3868b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-da4b850\" data-id=\"da4b850\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9a8549f elementor-widget elementor-widget-heading\" data-id=\"9a8549f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Selling Process<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6c819be elementor-widget elementor-widget-text-editor\" data-id=\"6c819be\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 18-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><b>BUYING PROPERTY IN SAINT LUCIA<\/b><\/p>\n<p><\/p>\n<p>When purchasing your dream property, our experience agents will guide you through the process and advise you on the best method of purchasing, while providing you with a list of qualified and experience lawyers and service providers.\n<\/p>\n<p><br><\/p><p><b>Property Ownership Requirements:<\/b><\/p>\n<p>All non-St. Lucian corporations and non-nationals of St. Lucia other than CARICOM nationals are required to obtain an Aliens Landholding Licence prior to purchasing a property.<\/p>\n<p><br><\/p>\n<p>Application forms are available from the Ministry of Finance or from an Attorney. The Aliens Landholding Licence application fee is EC$1,500 non-refundable and the license fee once approval is granted is a additional EC$5,000 &#8211; EC$50,000, depending on the size of the land being purchased.<\/p>\n<p><br><\/p>\n<p>In order to make an application for an Alien Landholding License each applicant would be required to supply the following:<\/p>\n<p><br><\/p>\n<p>Two passport size photographs<\/p>\n<h2>\n<\/h2>\n<h3>\n<\/h3>\n<h4>\n<\/h4><h1>\n<ul>\n<li>Original Police Certificate of Character from country of origin<\/li>\n<\/ul>\n<ul>\n<li>Certified copy of Passport<\/li>\n<\/ul>\n<ul>\n<li>Certified copy of Citizenship Details<\/li>\n<\/ul>\n<ul>\n<li>Bankers&#8217; Reference<\/li>\n<\/ul>\n<ul>\n<li>The Alien License non-refundable government application Fees<\/li>\n<\/ul>\n<ul>\n<li>Complete the Associated Forms<\/li>\n<\/ul>\n<\/h1>\n\n<ul>\n<li><br><\/li>\n<\/ul>\n<p>The Alien License fee of USD 2,500 applies to property where the land size is less than or equal to an acre. Where the property is:<\/p>\n<h4>\n<ul>\n<li>Greater than 1 acre and up to 5 acres the Government fee is USD 5,000<\/li>\n<\/ul>\n<ul>\n<li>Greater than 5 acres and up to 10 acres the Government fee is USD 10,500<\/li>\n<li>Greater than 10 acres the Government fee is USD 10,500<\/li>\n<\/ul>\n<\/h4>\n<div><span style=\"font-size: 11.25px;\"><br><\/span><\/div>\n<p>Transaction Costs:<\/p>\n<h4>\n<ul>\n<li>License Fee: As above<\/li>\n<\/ul>\n<ul>\n<li>Legal Fees: Approx. 0.5% &#8211; 2.5% of the purchase price + 12.5% VAT<\/li>\n<\/ul>\n<ul>\n<li>Stamp Duty: 2% of the purchase price<\/li>\n<\/ul>\n<ul>\n<li>Out-of-pocket expenses: Approx. US$500<\/li>\n<\/ul>\n<ul>\n<li>Standard Purchase Procedure:<\/li>\n<\/ul>\n<ul>\n<li>A written Offer &amp; Acceptance Letter is prepared by the agent for signing by both vendor and purchaser<\/li>\n<\/ul>\n<ul>\n<li>Purchaser appoints Attorney<\/li>\n<\/ul>\n<ul>\n<li>A deposit of 10% is paid by the purchaser on signing of said Acceptance Letter<\/li>\n<li><br><\/li>\n<\/ul>\n<\/h4>\n<p>For non-nationals only &#8211; an application for an Aliens Landholding License is completed by purchaser and is submitted to Cabinet for approval. This process is facilitated by the purchaser\u2019s Attorney.<\/p>\n<p><br><\/p>\n<p>A title search is then carried out by the purchaser\u2019s Attorney.<\/p>\n<p><br><\/p>\n<p>The conveyance is then prepared by the purchaser\u2019s attorney and executed upon satisfactory completion of any matters pertaining to good title.<\/p>\n<p><br><\/p>\n<p>Payment of the 90% remaining balance is due at the completion of signing the Sales Agreement.<\/p>\n<p><br><\/p>\n<p>The purchase process can take 1-4 months, depending on whether or not an Aliens Landholding is required.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ab5c63 elementor-widget elementor-widget-text-editor\" data-id=\"5ab5c63\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Pinnacle experienced team will guide you through every step of the selling process.&nbsp;<\/b><\/p>\n<p><b><br><\/b><\/p><p><b>Costs associated with the process<\/b><\/p>\n<p>Property Transfer Tax: There is a sliding scale with a maximum of 5% of the selling price for St. Lucian and CARICOM members. 10% of the selling price for non-nationals.<\/p>\n<p><br><\/p><p>Legal Fees<b>&nbsp;<\/b><span style=\"color: var(--rh-global-color-text);\">1% of the purchase price + 12.5% VAT<\/span><\/p>\n<p>Real Estate commission:&nbsp; 5% of the purchase price + 12.5% VAT<\/p>\n<p>Out-of-pocket expenses:&nbsp; EC$1,500 for your 3 \u201cTax Clearances\u201d \u2013 Income Tax, Property Tax and&nbsp;<\/p><p><span style=\"color: var(--rh-global-color-text);\">National Insurance Corporation.<\/span><br><\/p><p><span style=\"color: var(--rh-global-color-text);\"><br><\/span><\/p>\n<p><b>Standard Sales Procedure<\/b><\/p>\n<p>The vendor should sign a Listing Agreement with the real estate company or provide written instructions to sell their property.<\/p>\n<p>A written Offer &amp; Acceptance Letter is prepared by the agent for signing by both vendor and purchaser.<\/p>\n<p>Purchaser appoints an Attorney.<\/p>\n<p>Agent instructs vendor\u2019s attorney to prepare Sales Agreement<\/p>\n<p>Sales Agreement is signed by vendor.<\/p>\n<p>Vendor to provide Purchaser\u2019s Attorney with copies of the Title Deed, Survey Plan &amp; current copy of the Land Register.<\/p>\n<p>Signing of conveyance takes place 2-4 months thereafter.<\/p>\n<p>All property tax, personal tax and national insurance contributions plus utility bills and condominium fees (if applicable) must be fully paid before closing.<\/p>\n<p>How long does a sales &amp; purchase transaction take to complete?<br>Approximately 1-6 months.<\/p>\n<p>Who pays Real Estate Agency commission?<br>The vendor pays the real estate agency commission.<\/p>\n<p><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section 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href=\"https:\/\/pinnproperties.com\/\">HOME<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-1881\"><a href=\"https:\/\/pinnproperties.com\/properties-list-in-saint-lucia\/\">Properties<\/a>\n<ul class=\"sub-menu\">\n\t<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-4538\"><a href=\"https:\/\/pinnproperties.com\/property-search\/?status%5B%5D=villas-for-sale\">Villas for Sale<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-4537\"><a href=\"https:\/\/pinnproperties.com\/property-search\/?status%5B%5D=houses-for-sale\">Houses for Sale<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-4536\"><a href=\"https:\/\/pinnproperties.com\/property-search\/?status%5B%5D=apartment-for-rent\">Apartment Rentals<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-3262\"><a href=\"https:\/\/pinnproperties.com\/property-search\/?type%5B%5D=land\">Land<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-2832\"><a href=\"https:\/\/pinnproperties.com\/property-search\/?status%5B%5D=for-sale\">Sales<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-2833\"><a href=\"https:\/\/pinnproperties.com\/property-search\/?status%5B%5D=for-rent\">Rental<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2193\"><a href=\"https:\/\/pinnproperties.com\/saintlucia\/\">Saint Lucia<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2370\"><a href=\"https:\/\/pinnproperties.com\/buying-selling-process\/\">FAQs<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-797\"><a href=\"https:\/\/pinnproperties.com\/contact\/\">Contact<\/a><\/li>\n<li class=\"menu-item 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*\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#0c0d0e;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text .elementor-divider-separator{align-items:center}.elementor-widget-divider--view-line_icon .elementor-divider-separator:after,.elementor-widget-divider--view-line_icon 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100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-40d96a42 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"40d96a42\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-498d4566\" data-id=\"498d4566\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2faeaae4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2faeaae4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-7c53f5fa\" data-id=\"7c53f5fa\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-43e6648e elementor-widget elementor-widget-image\" data-id=\"43e6648e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"85\" src=\"https:\/\/pinnproperties.com\/wp-content\/uploads\/2022\/05\/PINNACLE-REAL-ESTATE-STLUCIA-very-SMALL-LOGO.png\" class=\"attachment-large size-large wp-image-1930\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-143a9af9 elementor-widget elementor-widget-heading\" data-id=\"143a9af9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Pinnacle Real Construction &amp; Real Estate<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-60d2191f elementor-widget elementor-widget-heading\" data-id=\"60d2191f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Saint Lucia<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6194c7d3 elementor-widget elementor-widget-heading\" data-id=\"6194c7d3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Email: sales@pinnproperties.com<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-4f10efdd\" data-id=\"4f10efdd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3728fd4e elementor-widget elementor-widget-sidebar\" data-id=\"3728fd4e\" data-element_type=\"widget\" data-widget_type=\"sidebar.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<section id=\"block-8\" class=\"widget clearfix widget_block\"><\/section><section id=\"property_types_widget-2\" class=\"widget clearfix Property_Types_Widget\"><h3 class=\"title\">Property Types<\/h3><ul><li><a href=\"https:\/\/pinnproperties.com\/property-type\/apartment-complex\/\">Apartment Complex<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/bungalow\/\">Bungalow<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/commercial\/\">Commercial<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/condo\/\">Condo<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/guest-house\/\">Guest House<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/house\/\">House<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/land\/\">Land<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/long-term-rental\/\">Long Term Rental<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/rental\/\">Rental<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/vacation-rental\/\">Vacation Rental<\/a><\/li><li><a href=\"https:\/\/pinnproperties.com\/property-type\/villa\/\">Villa<\/a><\/li><\/ul><\/section>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-134a3f78\" data-id=\"134a3f78\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Email: sales@pinnproperties.com HOME Properties Villas for Sale Houses for Sale Apartment Rentals Land Sales Rental Saint Lucia FAQs Contact List Your Property Email: sales@pinnproperties.com HOME Properties Villas for Sale Houses for Sale Apartment Rentals Land Sales Rental Saint Lucia FAQs Contact List Your Property HOME Properties Villas for Sale Houses for Sale Apartment Rentals Land&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_canvas","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buying &amp; Selling Process - Pinnacle 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