Some people have vacation properties in Belize that they use for a few months a year. Having a property in Belize for vacation, sounds like a great plan, especially when there’s always a possibility of you calling it home after retirement.
Regardless of the reason, purchasing a new property in Belize is a straightforward process. In this guide, we will discuss some important things about Belize Real Estate that you probably didn’t know.
Here are the important facts that property buyers in Belize should know.
- Anyone can purchase real estate in Belize
Owning a property in Belize is not limited to citizens. Anyone can purchase real estate in Belize as long as they follow the required process. Before investing in a property, you must read the current qualifications for foreigners laid down in 2001.
- You don’t need to be physically present
Even if you are not physically present in Belize, you can still purchase a property. The process of owning real estate in Belize is simple. This makes it possible for buyers to handle the process without being present in the country. As far the paperwork is concerned, you can send electronic documents with your signature.
- Qualifying for financing
To purchase a property in Belize, you must qualify for financing. You are required to submit proof of finances, without it you cannot bid on a property. Just remember one thing; you will have to prove that you can afford the property multiple times in different stages of the purchasing process. You should hire a reliable real estate agent to help you with the process.
- Takes 90 days to close a deal
It can take up to 30-90 days when it comes to finish a deal. Several important things are checked and resolved during this period. So you need to be patient with the whole process. If everything goes smoothly, it is possible to wrap up the deal in 30 days.
Owning a property in Belize is like a dream come true for many. Make sure to explore the real estate market before making a decision.
