How many times have I heard a “Buyer or Seller” complaining that they can’t believe it’s taking so long for their property to “close”, or “where’s My Money”!
Anyone that buys land or a house in Belize and decides to sell it and move away, should know…
Belize is not the United States or Canada, or anywhere else for that matter. Things don’t happen quickly here in Belize. Contracts and moneys are held up by the Tax Departments, Banks and Central Bank Authority. Where it used to take a couple months, things can now take 3-6 months to finish and close.
One of the main reasons is because of people like the “developers” of Sanctuary Belize / The Reserve. They being the largest “scam” in U.S. History, involved the Belizean “system”, and actually caused the demise of the Atlantic International Bank ! Belize is looked at under serious microscopes, and a “money laundering country”, a “Real Estate Scammers paradise”.
Before any moneys can leave the Belize banking system, necessary “checks and balances” have to be done. You as a Seller or Buyer can do nothing to speed things up. It’s out of your control. As a Seller, if a good professional Attorney is involved for you and or your buyer, they will do whatever they can to move things along. However, the Belize “Powers that be” can be very trying on your patience.
Another problem comes when a Seller has put his holdings/Real Estate in a LLC. This just adds another problem to moving moneys up North out of Belize.
Blaming your Belize Bank for delays is nonsense, as they are restricted on time and money transfers by Central Bank. Blaming Central Bank will get you nowhere, because they control everything, and if you bother them to much. you file could somehow end up on the bottom of the pile.
Blaming your Realtor or Real Estate Office is one of the dumbest thing you can do in Belize, or anywhere else in the world for that mater. After a contract if signed off, inspections done and monies deposited, they have nothing to do with your receiving funds. If they did, don’t you think they would do it ??? After all, they don’t get paid until after the deal closes.
You just need patience, pretty much with anything in Belize. Whether it’s licensing a vehicle, getting a license plate, QRP, Residency or anything else.
I read people on Social Media complaining about “the wait”, and “can someone help me or tell me who to contact ?”. In some cases, yes they can give advise, lord knows everyone on Facebook is an “expert”.
But in all things Real Estate, unless they are an Attorney, or work in Lands Dept., Central Bank, they don’t know crap.
Anyone that complains that Real Estate transaction were better in the states, and why is it so bad here should know, that in the states, Realtors turned over the contracts ti a “Title Company”, who did everything from Titles, legal paperwork, money transfers, and finally the closing of escrow.
There are no “Title Companies” in Belize. Remember, your selling or buying in the “Wild West of Real Estate” here in Belize.
So, sit back, pop open a cold one, and have patience Grasshopper, everything will happen in its own time. After all, our “motto” in Belize is “Go Slow”, “No Worries”.