REQUIREMENTS FOR PURCHASE/SALE AGREEMENT
GENERAL:
- A purchase/sale agreement expressly states the terms and conditions of a real estate transaction.
- Before preparing the agreement, we advise you to conduct a title search to confirm that the property is not mortgaged or encumbered in any way, that it is not engaged in any legal matters and that it is indeed in the name of the Seller.
- It is also advisable to obtain an escrow agent, who is a trusted third party who will hold the funds in his account until the conditions of the agreement are met. To this end, the interests of both parties are safeguarded.
- We provide both escrow services and title searches for an additional fee.
REQUIREMENTS:
- Full name and address of the Seller and Buyer
- Copy of title (conveyance, land certificate, certificate of title, etc. )
- Copy of survey
- Purchase Price
- Payment Plan (e.g. down payment, monthly payments, number of years and interest rates)
- Copy of land tax statement and receipt
- How defaults should be dealt with (e.g. grace period, cancellation of agreement, etc.)
- Special Clauses or Additional Information
FEES: |
Preparation of Sale Agreement | US $500.00 |
| Administrative Fees | US $50.00 |
| |
| Sub-total | US $550.00 |
| General Sales Tax (12.5%) | US $ 68.75 |
| Total | US $618.75 |
An additional $500.00 will be charged if the purchase agreement will include terms on owner’s financing.
Any additional time other than incidentals above and change of standard agreement will be charged at US $75.00 per hour plus administrative fee and general sales tax of 12.5%.
OPTIONAL SERVICES AND FEES:
| Title Search for Declared Land | US $ 500.00 | |
| Title Search for Undeclared Land | US $ 700.00 | |
| Purchase Agreement | US $ 500.00 | |
| Purchase Agreement with
Owner’s Financing
| US $ 1000.00 | |
| Escrow Agreement | US $ 250.00 | |
| Escrow Services | US $ 500.00 | (For properties that cost US $100,000. or less) |
| Escrow Services | US $1,000.00 | (For properties that cost between US $100,001.
and US $200,000) |
| Escrow Services | US $2,000.00 | (For properties that cost between US $200,001.
and US $500,000) |
| Escrow Services | 1/2% of the value | (For properties that cost more than US $500,001.) |
| Charge on property | US $ 250.00 | |
| Discharge of Charge | US $ 250.00 | |
| Mortgage | US $ 1,000.00 | |
| Cancellation of Mortgage | US $ 500.00 | |
| Transfer of Title for Declared Land | US $ 550.00 | |
| Transfer of Title for Undeclared Land | US $ 750.00 | |
| Transfer of Title with Covenants | US $ 1,050.00 | |
| Strata Title for Condominiums | US $ 1,000.00 | per unit |
| First Registration for declared land | US $350.00 | (does not include title search and survey fee) |
| Payment of property taxes | US $100.00 | per lot per year |
| Review of contract for recommendations | US $ 500.00 | minimum or 1/2% (whichever is greater) |
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| Plus General Sales Tax of 12.5%, administrative fees and filing fees. |
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Do you need us to do a title search? | Yes  | No |
| Do you need us to prepare an escrow agreement? | Yes | No |
| Do you need us to be your escrow agent? | Yes | No |
INTERNATIONAL SERVICES LTD.
PO Box 2284, #16 Albert Hoy Avenue, Belama Phase 1,
BELIZE CITY, BELIZE, CENTRAL AMERICA
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