Are you considering a hideaway in Belize? Eyeing a retirement spot or looking to purchase land for your own property interests. Regardless of
your desires, it would benefit you to understand how Belize’s real estate market works. Here are five solid questions people ask when looking into properties in Belize.
“Do I have to be in the country to purchase the property?”
No, you can employ another party to act on your wishes, either a real estate agent or a local real estate attorney. Note that the internet makes
virtual tours a breeze. With a registered agency, you can tour a site, pose questions, submit offers and look into everything else concerning a given property.
Should you find a good fit, your agent can guide you through all of the relevant documents and other factors involved in a purchase.
“How hard is buying a property?”
Purchasing real estate in Belize is easy. Just prove your identity and verify your financial source. This is where hiring someone familiar with real estate law helps, as they know how best to manage the entire process.
“Is legal counsel required for purchasing property?”
While not required, it is recommended. Any reliable Belizean real estate lawyer can provide many services useful to safeguarding your investment,
like verifying the state of the deed and other legal concerns. Counsel can also oversee the entire process from start to finish.
“How long does closing a sale take?”
Issues like the nature of the property and banking hurdles or public holidays can slow the process by a few days but closing on a sale can
take anywhere from 30 to 45 days.
“What are closing costs like?”
Closing cost is normally 1-1.5% of the total purchase price.