Before discussing the benefits of buying property in Belize, it’s important to understand the steps you need to take to buy a property. It’s important to hire a real estate agent you can trust to help you find the best deal for your property. The real estate agent can help you determine if your property is in a good location and if it meets your needs. It takes up to 90 days for you to settle into your home from the date of purchase.
When you work with a real estate agent, it’s easier to focus your property search on the type you want. Buying an island in Belize is one of the best investment options you will ever make. Vista Real Estate offers you the best island deals in the country. If you’re looking for an island, the Funk Caye should be your goal right now! Another important factor to consider is what you want to do with the island. Or are you interested in turning the island into a resort?
In total, a thorough buyer can expect to pay between 7% and 20% of the value of their home in taxes. You also want the attorney to review the proposed purchase agreement and ensure that it fully complies with local law. This is especially important if you are going to finance with the seller instead Secret Beach Property of getting bank financing. You do not have to be in the country when buying a property. The agent can coordinate the sale with the seller, the bank that provides the financing and even make sure everything is in order to pay the taxes. The good news is that real estate here in Belize is easy to buy.
There are no restrictions for foreigners buying property in Estonia. As a buyer, you also have the first option to acquire the land on which your home is located. Citizens of the EU, Norway, Iceland and Liechtenstein can buy land up to 24.7 hectares with the permission of the local provincial governor. Government approval from the Ministry of Natural Resources is required for all property purchases by non-locals, but there are few restrictions. Some coastal areas and cays are limited and require municipal approval for sale in ownership. Since this real estate market is not regulated at all, you should make sure that you get as much help and advice as possible from specialists with experience in real estate transactions in this country.
Fortunately, Belize is located in the southwestern part of the Caribbean, which is out of the way of traditional hurricane trails. Historically, Belize has experienced a major hurricane every few decades. Ambergris Caye was hit by a hurricane in 1942 and then again in 2000.
As with any profession, there are corrupt lawyers in Belize. And likewise corrupt real estate agents, especially those in the luxury real estate segment. The current cost of buying property through a local lawyer is between 2 and 5 percent of the property’s value. A real estate agent will charge more and really works for the owner and for himself to get a high price and commission. Buyers can offer a 20 or 30 percent deposit and pay the rest monthly directly to the owner.
Laurie currently lives in downtown San Pedro and enjoys being a “city girl” on a tropical island. We strongly advise against this, as this approach can result in you missing crucial details regarding your purchase decision. Make sure you are comfortable with the finer points of the contract, the area in which you are buying and that you are completely safe with all aspects of the transaction. Due diligence is one of the most important steps to ensure that the business, home or country you are buying is legally binding.