Step by Step Guide
Purchasing Real Estate in Belize
- Complete and submit a Purchase contract to the seller or seller’s representative via Boris Mannsfeld & Associates.
- Select aclosing company or attorney. Boris Mannsfeld & Associates has a very well established relationship with the most competent and efficient attorneys and closing companies in Belize.
- Upon acceptance of the contract you will need to wire the 20% earnest money deposit to the escrow account of your Belize attorney, Belize closing company or Boris Mannsfeld & Associates.
- Boris Mannsfeld & Associates and the buyer complete all inspections on the property, due diligence and planning for after the closing. The closing company simultaneously completes title research & prepares closing documents only when the title search produces a clear and free marketable title.
- Closing documents (“Transfer of Land” documents) are delivered to the seller and buyer via Federal Express or DHL. Buyer and Seller sign documents in the presence of a Notary Public. Original documents are then sent via Federal Express or DHL back to the closing company or attorney in Belize. Closings usually complete within 30 days of the signing of the original purchase contract.
- Simultaneous with the execution of the closing documents, the buyer is to wire the balance of the purchase price to the escrow account.
- Once all closing documents and funds are received, the closing agent or attorney will record and register the property in the buyer’s name utilizing the “Transfer of Land” document and will wire the funds to the seller. The Government of Belize will issue a “Land Certificate” (your title) yet it can take from 1 to 3 months to have the certificate issued. The closing company will receive the title and will contact you as soon as it is in their hands. The “Transfer of Land” certificate will in the mean time be your proof of title and ownership.
- Enjoy your new property.
- Let Boris Mannsfeld & Associates know how and when we can be of further service.