The first step in finding the perfect property is to begin your search with a reputable agent. Spend time in the areas and get to know the community. It normally takes two or three visits until you find the one that is for you. Once you have the property that ticks all the boxes it’s time to present an offer through your real estate agent.
Here is a step-by-step process:
- The Purchase and Sale Agreement contracts, which set out the basic terms for the property transfer, are drawn up. (They aren’t required, but are highly recommended.)
- Title Search. Your lawyer or closing agent (private land researcher) goes to Belmopan and manually searches the archives and computer records to ensure the title is good, the seller is the true owner, and that no liens or encumbrances are attached to the title. (This very important step is skipped at your peril.)
- The payment is made, usually through a lawyer’s escrow account, and the transfer is affected.
- Transfer documents vary according to the details of the property being purchased—whether it is a declared or undeclared land parcel. These documents include: (a) First Certificate of Title, (b) Transfer Certificate, (c) Deed of Conveyance, and (d) Land Certificate.
The transfer is usually accompanied by the following…
- The original land title,
- Discharge of mortgage or discharge of a charge,
- Recording or registration fees and stamp duty.