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Real Estate in Belize
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On the eastern
coastline of
Central America with a mainland and over 200 islands, Belize is a
popular tourist destination. Belize offers many natural attractions
with
rainforests, sandy beaches, Mayan ruins and relaxing tropical
climate. You will find your perfects spot and Guide to
Belize can help you in finding that perfect site.
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There
are no restrictions in Belize on foreign ownership but only a small
difference in the "Land
Title
Transfer fee" to
Residents of Belize. The
country
is politically and economically stable.
The living expenses in Belize are
substantially lower compared with America or Europe. While in Belize
goods and products are often priced relatively
higher due to import duties, services are often quite cheaper. Good
local healthcare, insurance, local legal services and
so forth can be found in Belize for reasonable prices.
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The Hard way: Do it on your own
This are some steps from my own land purchasing experience in Belize, they make it to work out for
you:
- Spend
time
in Belize and ask
around for properties. There are a few real estate listings, but most
are for sale by owner and usually there are no signs posted. Be
prepared to hunt for real estate.
- Pay
cash or
get financing on
your assets back home. Mortgage financing is not readily available for
foreign buyers.
- Negotiate
your price. There
are two prices, one for locals and one for foreigners. Do your research
or have a Belizean friend find out the local price for you. You will
get a better price if you have more knowledge of the real estate market
there.
- Hire a
lawyer in Belize. The attorney fee is normally two percent of the
purchase price.
- Research
and
learn the real
estate market. Know the fees and costs of purchase. Your land title
transfer fee, called a stamp tax, is 12 percent. The Belize property
taxes
vary based on the assessed value of your property.
- Apply
for a
Title Transfer and
receive a Certificate of Title under the Belize Registered Land Act
System.
This is the most common purchase agreement. There is also the conveyance system involving a Title Search usually done by an attorney,
and the Torrens System involving a First Certificate of Title.
Think about This
There ain't no such thing as a free lunch, even in Belize. There
are
no
money back conditions if the seller or agent doesn't provide full
disclosure. Be
careful
in choosing a
realtor. A license is not required in Belize, so the quality among
realtors varies.
Get assisted, get a second opinion
Whether you are
buying or selling a home in Belize, hire someone like me, who wants to
earn your
business. I invite you to contact me as I'd be happy to assist and
guide you with
this important transaction.
In addition, if you have any general
questions about buying or selling real estate in Belize, please contact
me i got my experience in the last years and i now personaly some land owners as I'm more than willing to help.
I got my own experience in last years with:
- Land Survey
- Land owner's
- Attorneys
- Taxes and fees
- Registering a title
- Title research
- Financing
- Filling a company
- Bringing a criminal to court
Also read our Belize Residents Safety Guide with many useful tips.
My contact e-mail for serious inquiries only, please.
belize @
guidetobelize . info
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Guide to Belize, April 2024
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