Is Your Property in Belize Ready For Sale?

Thinking about selling your residential or commercial space? There are many factors that can make or break your sale. Our team at CPC has put together a few tips that can help along the way.

Timing is everything! Study the market, a consultation with a trusted real estate agent can mean the difference between dollar signs, or a property that isn’t poised to sell. Just as you had to take precautions when you purchased your home, condo, beach, or lagoon property, seasonal fluctuations could increase your profits, or give buyers a serious price break depending on when you choose to list.

Getting yourself and your property ready will help give you the best chance of selling your property quickly and for top dollar. It’s always good to know what the current market value of your property is so that you can get an idea of the price range in which your property should be selling.

Staging is key, as it is always a good idea to give buyers a “feel” for life inside the property, so depersonalizing and decluttering your property for show can really add to the aesthetics. Don’t be afraid to show those trying to figure whether to buy or build in Belize how they can be enjoying your space. This gives them a sense of ownership before the sale.

Tread lightly when it comes to making improvements to your property though; not all improvements add value. Focus on projects that will maximize the return on your investment. Sometimes something as simple as a fresh coat of paint or replacing an old garage door can keep your property within fair market value -- versus a massive undertaking like renovating an entire floor, or replacing outdated kitchen cabinets.

The professionals at CPC can help you find your perfect Belize property. Let us show you how to get the job done right the first time around.

Making the Sale with CPC

Receiving viable offers on your property can be an exciting thing, but it’s not always a good thing to accept the first or even the highest offer as soon as it is received. Taking a step back and reviewing all your options can get you to the best offer, rather than the highest one.

No matter the state of the real estate market, it’s always wise to analyze all the offers being presented to you. It’s not uncommon to receive a wave of offers on a property when it’s a seller’s market, but in a buyer’s market it is possible to get multiple offers on an appealing property.

Whatever the case may be, it’s always important to understand how to choose the best offer for you. Here are a few considerations before deciding on the best offer when selling your property:

1. Net Proceeds – this is how much money you keep in your pocket after meeting the terms of the sale. Other unexpected costs that may come up are:
   • Repairs
   • Closing costs
   • Down Payments


2. Loan Approval – Sometimes pre-qualified and pre-approved sounds like the same thing, but in financial terms, it’s not. Pre-qualified means that the prospective applicant will most likely qualify for a loan under the lender’s current program. While on the other hand, a pre-approved applicant will have already completed an application at the lending institution, provided them with income information, asset statements, etc. 


3. Escrow – this is essentially how much down payment is the buyer willing to make on the property to secure the sale.


4. Timeframe of Sale – Being able to close within a specific timeframe is key to wrapping up a sale and moving on.


5. Contingencies – Some buyers like to throw in all sorts of requests before closing a sale. While their monetary offer may seem fantastic, contingencies may mean you end up with little or nothing after the sale.

Choosing the best offer when selling a house doesn’t always come down to price. Sometimes it is worth accepting a few thousand dollars less from a buyer with no contingencies. There are many factors to consider when choosing the best offer on your property, at CPC, we know it can sometimes be a daunting task to sell your property. We understand exactly what it entails to lock in the right offer and our Team will ensure that all your requirements are met, that you are comfortable with the end result, and that you are kept well informed every step of the way.

Most Recent Listings:

1. Beautiful Tropical Home/Bed & Breakfast
2. Pre-Sale Condos South of Hopkins Belize
3. Perfect For Youth Hostel, Backpackers Delight In Corozal
4. Corozal - Caribbean Blue 2.27 Acre Sea Front
5. 5 Acres with A Million Dollar View & 2 Homes
6. Placencia Village Waterfront with Private Dock
7. 20 Acre Farmland with a Home in Cayo
8. Side by Side Caribbean Sea View Lots

House Hunting In Belize

BEAUTIFUL WATERFRONT HOME NORTH OF MAYA BEACH PLACENCIA

$398,500 US Dollars

Casa Laguna Vista is a home with a view! This active and popular VRBO vacation rental home sits across the road from the Caribbean Sea on the shoes of the Placencia Lagoon. This modern two-bedroom, two-bathroom vacation home is a short walk from a white-sandy beach on the coast of Placencia. This home offers a splendid view of the Maya Mountains, the Placencia Lagoon, and the Caribbean Sea – you get the best of both worlds! Built in 2012, this home is part of the Plantation Development on the Placencia Peninsula.

The 1,276-square-foot house sits on a 76' X 165' X 82' X 134' property adorned with tropical trees. This property is fully-fenced so visitors enter through a gated entryway paved with stones. The home features vaulted ceilings with a wrap-around veranda that opens to a sprawling living room and kitchen. There is beautiful hardwood finishing’s throughout the home. A palapa covered boat dock complete with hammock sits at the rear of the property along the shore of the Lagoon.

Other amenities include a 4,000 gallon concrete cistern and a remotely monitored four-camera security system. Property taxes in this area is about $50.00 US.

MARKET WATCH

Belize is poised to become the next retirement haven in the Caribbean. With its Blue Hole listed as the 8th Wonder of the World, Belize is quickly moving to the top of list of premier vacation destinations – translating into one of the best places to retire.

In recent years, Belize has been known for its laid back lifestyle and tropical weather, but visitors have been noticing other excellent qualities about Belize – good standard of living, convenient and reasonably priced travel to and from popular International destinations, exceptional retirement program for those 45 years or older, no inheritance and capital gains taxes, fixed exchange rate, good education system, peaceful, friendly locals, breathtakingly beautiful scenery, and the list goes on.   

WHO BUYS IN BELIZE

The north and south primarily attract US and Canadian buyers looking to retire and make a permanent investment in home and business. Foreigners make up the vast majority of the buyers across the country with locals looking within the Belize, Belmopan and Cayo Districts – which are the business areas – to purchase and settle down.

BUYING FUNDAMENTALS

There are no restrictions on Foreign Nationals buying property in Belize, a Non-Belizean may purchase land and property in Belize with full title being granted shortly after.

Belize's property tax is considered to be one of the lowest of any of the Commonwealth countries. Foreign Nationals pay 8% of the selling consideration as a stamp duty or transfer tax to the Government of Belize. Registration and fees are very minimal and lawyer’s fees for legal services for conveying property are approximately 1-2% of the selling consideration. Each individual is entitled to seek their own personal legal counsel. Approximate total closing costs for a Foreign National is 9 - 10% of the selling consideration.

Find out more about Real Estate and Commercial Investment Opportunities here.

LANGUAGES AND CURRENCIES

Belize is a melting pot of cultures. English is the universal language, but the multi-racial make-up contributes to other spoken languages and dialects such as Creole, Spanish, Mayan, Chinese, Mennonite German, Lebanese, Arabic, Hindi, Garifuna and Q'eqchi'. 

The National currency of Belize is the Belize Dollar (BZ) which is fixed to the American dollar (US) at a rate of $2.00 BZ to $1.00 US dollar.