Yes! Since 2001, foreigners have the same rights as locals when it comes to buying, renting, or selling property and land in Belize. And communities like Cerros Sands offer attractive financing rates to make finding your dream home or property easy and affordable.
How Expensive Are Homes in Belize?
Surprisingly, prime real estate is still quite affordable. Of course, you’ll pay more for a completed home than an undeveloped lot, but Cerros Sands has seaview parcels starting as low as $27,700 and beachfront parcels starting at just $79,000.
What’s the Procedure for Buying Land?
Buying land in Belize is often easier than in the United States or Canada.
First, you make an offer, which is legally binding to both partners. If the seller accepts your offer, you’ll need to hire a local real estate lawyer to perform due diligence, including a title check. Your lawyer will then craft an Agreement of Sale which will then be witnessed by a Justice of the Peace. You’ll then place the agreed-upon payment amount (either a down payment or the entire price) into escrow. The documents will then be forwarded to the Belize Lands Registry, and you’ll be given a certified copy of the Agreement of Sale.
How Long to Close on a Real Estate Sale in Belize?
The average time is between 30 and 90 days.
Do I Have to Be in Belize to Buy Property?
No. In fact, it’s quite common for individuals to be outside of the country when a purchase agreement is made. Documents can be sent by a delivery company such as UPS or FedEx, and it’s legal to transmit purchase offers by fax in Belize.
How Do I Know the Property Has a Clear Title?
The easiest and safest way is to hire a Belizean lawyer who specializes in real estate. They will do the due diligence for you to ensure that the title is free and clear by researching the appropriate government registries.
Should I Get Title Insurance?
It’s generally not recommended, especially if you’ve hired a Belizean lawyer specializing in real estate to do the due diligence for you. However, Belize is the only country in the region where American title insurance companies offer coverage. All Belize Land Certificates and Deeds of Conveyance are guaranteed by the government of Belize.