Thinking of Buying Property in Belize? Here’s What Not To Do

There are many things in life that can be done one of two ways: the right way and the wrong way. This article highlights some of the common blunders someone can stumble into when investing or purchasing property within the country of Belize.

Not Being Thorough

Any reputable property lawyer will have done their homework, checking a site’s title with the Ministry of Natural Resources and verifying the background of the site’s owner through the Registry of the Supreme Court. Make sure you assess each dimension and border of land being bought, especially if it resides within an existing neighborhood. One of the most common errors in determining property lines come between what official documentation says and where fences and other traditional border markers lay. Dealing with Cerros Sands ensures that you will avoid a lot of this chaos and everything will be as accurate as its documentation indicates; doing all of the paperwork on your own, unassisted is a surefire way to run into trouble.

Blindly Signing Contracts

Rushing a project is a great way to run into surprises. You should always understand everything involved when agreeing to a contract. It may cost a bit, but hiring a legal expert is a good long-term investment to avoid any hiccups. While some developers are sneaky with their contracts, Cerros Sands is more than willing to explain every part of what you are signing onto when buying land or a property.

Rushing Through Things

High speed engagement can be detrimental in more than just driving; maybe you find your dream home and are so eager to move in that you do everything possible to own it. You should be aware and amenable to the finer points of a contract, have complete understanding of what you do and do not own after the transaction completes and have confidence in the exchange, ideally with a reliable legal aide to call upon for the unclear parts.

Rely on Independent Escrow

As Belize does not officially license closers, title companies or escrow agents, it is recommended to seek out a law firm when handling property. This ensures that funds can be properly released and the title safely changes hands.

Pass Up Hiring a Real Estate Lawyer

As if previous points were not clear enough, you should hire a property lawyer to have your back during any transaction; going solo will usually wind up going poorly.

Visit our website www.cerrossands.com or contact us via email to learn more about buying property in Belize.
By | 2019-10-21T23:33:08+00:00 October 5th, 2019|Blog|Comments Off on Thinking of Buying Property in Belize? Here’s What Not To Do

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