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Buying guide

Roatan Executive Realty will assist you in all steps in the purchase or sale of your property.

Select a Real Estate agent you are comfortable working with.

Once you find a property your agent will create a sales agreement that you will review, sign and initial. This is presented to the seller of the property. When the details are agreed to by both buyer and seller you will have 7-10 days to deposit 10% earnest money to your real estate agent’s escrow account.

Within 10 after you sign the sales agreement you will receive both the survey and title. The attorney begins at that time to check the documents.

If you are purchasing the property in a Corporation or corporation and Holding corporation, you will provide the attorney with the name of the corporation, and who the administrators will be.

In case the buyer will not be able to be present at the closing, then it is common to appoint a limited power of attorney to someone, such as a Real Estate Agent to act in your behalf at the closing.

While you are waiting on the closing your Real Estate Agent will help the attorney by getting the cadastral certification, survey, paid tax receipts, title documents for the closing.

At 7-10 days before closing you will wire the final funds, including the attorney funds to the Real Estate agents Escrow account. Real Estate Agents and attorneys are both present for the closing. The attorney has completed the title search and confirms the property is 100% good title with no unanswered questions.

You or the person you assigned Power of Attorney, will sign the documents. The seller signs them and you now own the property. The seller gets his money and attorney is paid. You receive copies of all documents before you leave.

In about 4 months you will receive the registered title and registered corporate documents and shares from your attorney. Keep your copies of everything in a safe place and especially guard your shares since the person who physically holds them in their hands is the owner of the corporation and all assets.

Pay your taxes once a year, or pay them a few years in advance. Taxes are paid at the municipal office either in Oak Ridge or Coxen Hole. take a copy of the previous year’s tax receipt, the cadastral certificate, and a copy of your Escritura Publica to change the cadastral certificate into your name. This one time cost is approximately 1,000 Lempiras ($53)

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