When purchasing property on Roatan, while incredibly easy, it is important to have a good understanding of the documents associated with a clear title. To protect your investment a qualified real estate broker, Honduran notary and Lawyer are required to assist and review all documents. Note; title insurance is available.
Here is some important information to know:
As individuals, foreigners can own up to 3000 square meters, which is approximately .74 acres, of land per investor.
A Honduran Corporation typically costs about $2000.00 USD and is required in order to purchase more than .74 acres of land per investor.
Forming a Honduran corporation is a straightforward task for any qualified attorney and typically costs about $2000.00 USD.
Four Steps to the Buying Process
1. Setting your goal
Write a list of what you’d like to see in your property search. This way we can narrow down your ‘Must Haves’ – what you just can’t live without.
This first meeting can be done in person, by phone or email, you decide. We will cover all your questions, your thoughts, and your concerns. Our goal is to match you with the right property of your dreams. We will discuss the lifestyle you’d like to have, the island communities and what they have to offer.
2. Individual and personalized Property Search:
Our primary goal is to find you your perfect property. Our job is not done until we find what you are looking for or close to it. If it can’t be found we will suggest other options such as building your dream holiday home, researching income property or search any of our non-MLS properties.
3. Submitting the offer
We will work for you to get the best possible offer for the property chosen. Basically, the submitting of an offer is the conversation starter.
When a purchase price is agreed upon the buyer will work on any contingencies we have written into the contract such as clear property title search, home inspection, title transfer, dock deed etc. When this step is completed 10% of the purchase price must be made within 72 hours to a predetermined escrow account. If no contingencies are written into the sales contract the earnest deposit will be made within a 7 day time period.
4. Closing the deal
On the closing date, you and the seller will sign all documents. If you are unable to attend in person, your attorney can represent you or your real estate broker can obtain a POA to represent you. Signing documents will when the seller receives money owed and the attorney is paid in full.
The property recording process can take 4 -6 months long. So patience is needed at this time. Once the recording of properties has occurred you will receive your stock certificate for your corporation.
Ready to get started?