Real Estate

The Closing Process

A simple step-by-step breakdown of the closing process for buying real estate in Belize — from escrow opening through to final delivery of title.

01

Client Engagement Form & Bank Escrow Information

Upon receiving the fully executed Sales Agreement we will send an introduction email with our Buyer's Engagement Form, Wire Instructions, and Invoice for Closing Costs.

02

Escrow Is Opened

Once the Buyer's Engagement Form is completed and the escrow deposit is received, we will move to the next stage. The Buyer's Engagement Form can be printed, filled out, scanned and emailed back to us, or completed electronically and emailed back.

Steps 1 & 2: Approximate time — less than a week

03

Title Search & Contingency

After escrow is opened, we will order the title search and your Real Estate Agent will work with you on any contingency items, such as an optional re-survey of the property.

04

Review of Due Diligence

Once the title search is completed and clear, and contingencies (if applicable) are released, the closing documents will be prepared.

Steps 3 & 4: Approximate time — 1–3 weeks, averaging 1 week

05

Buyer Signs Closing Documents

We will send the closing documents to you. You will need to print, sign, and notarise them, then mail them to the seller.

06

Seller Signs & Returns Documents

The seller will sign and notarise the documents, then return them along with the original title and due diligence materials.

Steps 5 & 6: Approximate time — 1–3 weeks, averaging 1 week

07

Buyer Closing Statement Issued

At this stage, we will send you the Buyer Closing Statement. This will include any prorated property tax, HOA/Insurance (if applicable), stamp duty, wire bank fees, and any remaining closing funds due.

Happens simultaneously with Steps 5 & 6

08

Closing Funds Sent

You will need to send the closing funds in accordance with the Sales Agreement, or at least 5 days before Closing.

09

Closing Takes Place

Once we have received the closing funds, due diligence materials, and seller documents, we will be able to complete the closing.

10

Post-Closing Filing (If Not Seller Finance)

After closing, we will file the transfer with the Belize Land Department. We will then provide you with the stamp duty payment receipts and the lodged property transfer documents. Note: The Government has the right to reassess stamp duty based on the market value of the property, which may require the transaction to go through a stamp duty assessment stage.

Approximate time — Week of Closing

11

Original Title Timeline

The original title typically takes about 12 to 18 months to be returned from the Land Department. In the meantime, you can still use or build on your lot using the post-closing documents we provide.

12

Final Delivery of Title

Once the original title is returned, we can either mail it to your address or you can pick it up in Belize. We strongly recommend pick-up, as titles can be lost in the mail and replacements are difficult to obtain.

Post-Closing Filing — Seller Finance

If on Seller Finance, the Escrow Documents — Original Title, Transfer Forms, and other change of ownership documents — will be held in Escrow at our office pending the full payment of the purchase price in accordance with the Sales Agreement.

Payments are to be made directly to the Seller. Once the full purchase price is paid, we are to be contacted, at which point we will confirm with the Seller the completion of the Sales Agreement. We will then proceed with Step 10 above. The Government Stamp Tax will be due at that point.

If you have any questions, please do not hesitate to contact us.