The purchase process in Belize is very simple, and very similar to that of the United States/Canada and the United Kingdom. As Belize was a British colony up until recently, the legal system is based on English Law.
Initially you will be asked to select one or more lots from the site plan, and will be asked to sign a reservation document, and pay a fee – normally, this fee will be 10% of the purchase price, with a minimum fee of $1.500 USD. These funds are sent to either a Belizean law firm, or for your convenience, to a U.S. title company.
Once the reservation fee has been received and the form has been returned, the Belizean attorneys will be in touch with you and prepare the purchase contract, which will be sent to you for review, and also for signatures.
Once you have signed and returned the purchase contract, you will be asked to wire the remaining balance to close to the Belizean attorneys escrow account. They will then go thru a similar process to anywhere else in the world, and verify that the land is owned free and clear, with no mortgages and taxes etc, and subsequently after verifying that, the closing will take place. There is no need to travel to Belize to consummate the transaction – all can be done via Fedex!
We have attorneys that we work with and are happy to recommend – however, you are off course free to consult- and work with your own legal advisors.