Why buy real estate in Belize?  
It's a good investment.  Belize has become the top
5th travel destination in the world.  As a result, over
the past 10 years property values have increased at
a strong and steady pace.  Appreciation has
skyrocketed for several years.  Belize's official
language is English.  The contracts are in English.  
Belize is part of the British Commonwealth.  
Therefore, Belize's legal system is based on British
common law.  A foreigner has equal rights as a
local citizen regarding property ownership.  Since
the "Alien Land Holding License" was abolished in
2001, there are no longer licenses, permits, special
permissions or conditions required for a foreigner
to take title to Belize property.   They currency
exchange is fixed $2 USD = $1 BZE Dollar.
How do I know if the title is clear
and exactly how would the
property be titled?
   Liens, judgments
and encumbrances are only valid if properly lodged.  
An abstract of title will be prepared that will go back
no less than 30 years.   In 1987, all property on the
south side of Ambergris Caye were re-issued new
physical Land Certificate Titles with parcel number
assignments.  All land on the north portion of
Ambergris Caye are titled via a Deed of
Conveyance/Encumbrance and ownership by
Conveyance can be converted to a Transfer
Certificate of Title with an application for first
registration.  The difference is a Transfer Certificate
of Title is a physical title and a Deed of Conveyance
is a registered right to ownership.  Generally it costs
more to transfer title on a Transfer Certificate of Title
than on a Deed of Conveyance.  However, the Belize
Government is in the process of putting all
properties under Land Certificate Titles.  As far as
condo ownership,
titles to "TRUE CONDOMINIUMS"
only exist in the New Registration where the Strata
Act is applicable which enables one to pass
physical title without owning the land below the
building.  If the CONDOMINIUMS are not in the New
Registration zone then they are actually called
"UNITS" or "RESIDENCES" and are usually titled via
Corporate Share Certificates (A.K.A. "CO-OPS")
where the share certificate cannot be mortgaged by
a lending institution.  However, there are many
popular "CO-OPS" that exist within the Strata zones
and both forms of ownership offer equal security.
What about Title Insurance and
Closing Costs?
 Title Insurance is not
necessary unless the purchase is of large amount
and through some type of International Bank
financing Package.  In general, a Transfer Certificate
of Title, Land Certificate of Deed of Conveyance are
all guaranteed by the Belize Government and are as
secure as a title in the United States, Canada or any
commonwealth country.  Typically the purchaser
pays all closing costs and the closing costs
comprise of a 5% Belize "Stamp Tax" on the title
transfer.  If the purchaser has resided in Belize for
less than 3 years, an additional 5% tax is applicable.
 If the property is purchased outright, the cost of title
research and title transfer are approximately 2% of
the purchase price. Furthermore, the expense for
drafting and recording an Agreement for Sale and
Caution is between $300 to $750 U.S.D. It typically
takes 30 to 60 days to close a sale.  In addition,
most purchases are consummated in U.S. Dollars.
What do property tax and
property insurance cost and
what about hurricane risk?
 
Property insurance (good - includes hurricane)
costs are readily obtainable.  Property insurance
costs approximately 1.5% on concrete structures
and approximately 2.5% on wooden structures.  All
the condos at Sunset Beach Condos are concrete
structures.  Deductibles are normally around 5% for
storms and less for fire.  Also, taxes are
approximately 1.5% of the assessed value which is
usually 10 to 30% of the market value.  
Furthermore, Ambergris Caye was hit by a
hurricane twice in 1942 and again in 2000.  No one
was seriously hurt, insurance companies paid
nicely and the island was back to full speed within
60 days.
Five Steps for purchasing
Property in Belize:
 

Step 1:  Submit seller an offer with a minimum of
2% earnest monies.  The offer is legally binding to
both parties and include a reasonable due diligence
period for the purchaser.

Step 2:  Once offer is accepted, an attorney will
research the title, issue a record with the particulars
of the original purchase offer with an  Agreement For
Sale or title transfer instrument..

Step 3:  Purchaser balance is then due for deposit
as specified on the purchase offer or Agreement for
Sale.

Step 4:  Transfer documents are then submitted for
purchaser' attorney for review prior to releasing the
seller's escrowed funds.

Step 5:  All executed documents are processed at
the Lands Registry and an original title (or certified
copy of an Agreement for Sale) will then be
presented to the new owner .
F.A.Q.:
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SOLD:  Property #1. - #C1  
$ USD.  This is an ocean FRONT, ground floor, over 1800 square foot, 3 bedroom, 2 bath condo
with a fully equipped kitchen, spacious family room and spacious dining room that is located directly
on the beach just a few feet from the crystal clear waters of the Caribbean Sea.  Central Air
Conditioning.  Sold fully furnished.  Annual taxes approximately $300 U.S.  Annual Insurance
approximately $1400 U.S.  Association Fees approximately $621 U.S. per quarter.  Condo completed
in 2002.
SOLD:  Property #2 - #A6  
$ USD  
This is an ocean FRONT, Two story (2nd & 3rd floors), over 1400 square foot, 3 bedroom (2
enclosed queen bedrooms plus a 3rd loft bedroom with two twins), 2 bath condo with a fully equipped
kitchen, spacious dining room and spacious family room located directly on the beach just a few feet
from the crystal clear waters of the Caribbean Sea. Central Air Conditioning.  Sold fully furnished.  
Annual taxes approximately $300 U.S.  Annual Insurance approximately $1400 U.S.  Association Fees
approximately $621 U.S. per quarter.  Condo completed in 1997.
Belize condo for sale.  two bedroom condos, Ambergris Caye.  Three bedroom condos for sale in Belize.  Belize property for sale.  Belize house for sale.  San Pedro realtor.  San Pedro for sale.  Condominium for sale in Belize
BELIZE PROPERTY FOR SALE
San Pedro, Ambergris Caye, Belize
Sunset Condos in Belize - Sunset Beach Resort Condominium Complex
www.CondosinBelize.com   Belize Condos for sale, San Pedro, Ambergris Caye, Belize
FOR SALE:  Property #3- #A4  
$370,000 USD  
This is an ocean FRONT, Two story (1st & 2rd floors), over 1400 square foot, 3
bedroom (2 enclosed queen bedrooms plus a 3rd loft bedroom with two twins), 2 bath condo with a fully
equipped kitchen, spacious dining room and spacious family room located directly on the beach just a
few feet from the crystal clear waters of the Caribbean Sea. Central Air Conditioning. Sold fully
furnished.  Annual taxes approximately $300 U.S.  Annual Insurance approximately $1400 U.S.  
Association Fees approximately $621 U.S. per quarter.  Condo completed in 1997.
Belize condo for sale.  two bedroom condos, Ambergris Caye.  Three bedroom condos for sale in Belize.  Belize property for sale.  Belize house for sale.  San Pedro realtor.  San Pedro for sale.  Condominium for sale in Belize
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