SAN PEDRO
San Pedro Belize Real Estate Buyers Guide
Are you looking to buy real estate in San Pedro, Belize? Belize is popular with Americans, Canadian and Britons as it is the only English speaking country in Central America. It is also a stunningly beautiful country with great views, perfect weather and a relaxed, laid-back lifestyle.
San Pedro is a charming city of 16,000 people located on the Ambergris Caye, the biggest island in Belize. If you want to buy property in San Pedro, and don’t know where to begin, you can start with this San Pedro Belize Real Estate Buyers Guide. We tell you all you need to know about buying a house in this beautiful city.
San Pedro Town Belize Properties
Be sure to check out as many properties as you can during your trip to San Pedro. There are many real estate agents who only show you a few homes that are a part of their agency’s listings. You should be able to see more. You should check out all the best properties that are available for sale in San Pedro.
That’s why it is important to hire the right real estate agent who specializes in Belize properties. You want someone who is more loyal to you than to the company or agency they work for. Will Mitchell of REMAX Belize Secret Beach is the one you should be talking to.
Property Title Search
The first thing to do when you choose a property is to do a title search on the internet to make sure that the title of the property is as it should be. Performing the title search will reveal details such as who owns the property, if there are any existing liens on it and so on.
In case there are any liens on the property, or if it has been subjected to a lawsuit, then any purchase agreement you make will be considered invalid. So – not only will you lose the property, you will also end up losing all the money you’ve spent on it.
Since you’re not really familiar with Belize or the laws here, it is best to hire a professional surveyor or a real estate expert in Belize to conduct the title search for you.
Belize Capital Gains Tax & Closing Costs
When you buy a house in San Pedro, the Belize government levies a stamp duty of 5% on the purchase price. But there are many concessions made. For example, the stamp duty does not consider the first $10,000 of the price of the property. So, if you buy the house for $100,000, you will only need to pay a stamp duty of $4,500 (5% of $90,000). Also, there are no capital gains taxes in Belize.
San Pedro Belize Real Estate Buyers Guide
If you’re really in love with San Pedro, Belize and want to buy a home here, you will need to hire the right real estate agent that specializes in Belize properties. Will Mitchell of REMAX Belize Secret Beach is the most experienced and knowledgeable real estate agent in Belize. Will has helped many foreign investors find their dream home in San Pedro, Belize. Call +501 607 0303 to get in touch with me.
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