REQUIREMENTS FOR
ESCROW AGREEMENT & ESCROW SERVICES
GENERAL:
- An Escrow is an arrangement where a third party holds funds and legal documents on behalf of the Buyer and Seller and disburse these documents and funds in accordance with the Escrow Agreement.
- The Seller and the Buyer must both agree with the terms and conditions of the escrow agreement; therefore, the interests of both parties are safeguarded.
- The Escrow Agent must comply with the instructions of the Buyer and Seller as stated in the agreement.
- The Escrow Agent guides the transfer of ownership process and acts in an unbiased manner.
- Escrow Services will only be performed if our company does the title search and transfers the title.
- We are licensed in Belize for asset protection and escrow services
REQUIREMENTS:
- Full name and address of the Seller
- Full name and address of the Buyer
- Purchase Price
- Payment Plan (e.g. down payment, other deposits & final payment)
- List of Additional Payments to be made from escrow (e.g. Property Tax, Stamp Duty, Filing Fees, Attorney Fees) (Cost Sheet Attached).
- Lawful Description of Property
- Copy of land title (conveyance, land certificate, etc.)
- Copy of Purchase Agreement or any other agreement
- Special Clauses or Additional Information
- Wire Instructions or payment method
FEES: |
Preparation of Escrow Agreement | US $250.00 |
| Administrative Fees | US $ 25.00 |
| General Sales Tax (12.5%) | US $ 34.38 |
| Total | US $309.38 |
| Escrow Services | US $ 250.00 | (For properties that cost US $50,000. or less) |
| Escrow Services | US $ 500.00 | ((For properties that cost between US $51,000 and US $100,000.00) |
| 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.) |
Plus general sales tax, administrative fees and filing fees. |
Note: After First Quarter, there will be a quarterly fee of 50% of the applicable fee above. Plus general sales tax, administrative fees and filing fees. |
Disbursement Fees, etc.
|
Quarterly disbursement fee (and quarterly thereafter)
| US $150.00 |
| Bank Transfer Fee per transaction | US $100.00 |
| Conversion Rate from US dollars to Belize 2% and 5% Belize to US dollars |
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) |
| | | |
| Plus General Sales Tax of 12.5%, administrative fees and filing fees. |
INTERNATIONAL SERVICES LTD.
PO Box 2284, #16 Albert Hoy Avenue, Belama Phase 1,
BELIZE CITY, BELIZE, CENTRAL AMERICA
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