Book a flight to Belize, Central America, if you are looking for an enjoyable and rewarding real estate hunting adventure.
It was easy to buy beautiful Ambergris Caye Belize property. And it made a huge profit when we sold it. We decided to visit Belize in 2014. Prior to this, we had considered buying a property where we could retire.
RE/MAX is not only the largest real estate business in the world, but it is also the largest network of agents and offices in Belize. With offices across the entire country of Belize, RE/MAX has the largest market share. Since we don’t have a typical MLS, this network is essential when looking at Belize real estate.
RE/MAX Ambergris Caye Real Estate Belize agents are knowledgeable about market and property knowledge. With more than 100 agents throughout the country, the collective knowledge of RE/MAX agents in Belize is greater than that of one agent. RE/MAX Belize provides more than just finding an Caribbean home. Its services include investment, land banking and market knowledge.
We decided Belize was worth the effort due to all the benefits it offers. We would have a great vacation! We researched Belize and narrowed our potential property buying areas to just a handful of key locations, including Ambergris Caye.
It can be daunting to buy a second home, an investment property, or prepare for a change in lifestyle. We have compiled a list of resources to help you, the potential buyer, make your Ambergris Caye Real Estate experience a successful one.
Make sure your realtor shows you all properties that meet your criteria and not only his company’s listings. If you feel that you aren’t seeing all properties, don’t hesitate to talk to another realtor.
Although your agent may have information about the amenities planned in a particular area, you shouldn’t buy just because your agent claims that they can tell you what to expect. This includes a new city, hotel, new golf course, paved roads and city water. Although it might surprise you, don’t purchase based on what he says.
You will find that condos or homes in Belize do not provide positive cash flow for mortgage servicing, upkeep, insurance, and HOA fees. Be cautious about income projections by realtors or developers. Do not expect to pay a mortgage on your rental income.
Always make sure that your contract is contingent upon a re-survey to confirm the property’s exact dimensions and location. A licensed surveyor should conduct this.
A title opinion is required to purchase property in Belize. Sometimes, a company search may be necessary to confirm the ownership chain. It also checks that the property has no liens or other encumbrances. A title investigator should do this.
Ask your realtor to provide references from previous buyers and sellers. Ask them about their experiences and make sure you speak to them. Talk to other realtors in your area to find out what they think about you and your company.
Never wire funds or deposit funds to a seller for a real-estate transaction. Contact a lawyer or closing agent if you do not have a company account.
Ask your Realtor about the options for closing. There are many paralegals and lawyers who specialize in closing real-estate transactions. Ask for references and compare the costs.
Ask your realtor about the sales prices of similar properties in the area before you make an offer. Your offer should be based on comparable sales and not the seller’s listing price.
When purchasing a managed property that has covenants, make sure the contract is contingent upon review of the management agreement and CC&R (Covenants, Conditions and Restrictions).