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: (See Application Form)

  • 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

Preparation 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

Fees for Escrow Services for a maximum period of 3 months

Escrow Services
US
$ 250.00 (For properties that cost US $50,000. or less)
Escrow Services
US
$ 500.00 (For properties that cost 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 ½% 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.

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 is 2 %, and 5 % from 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%.

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
US $1,000.00
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 ½% (whichever is greater)

 Plus general sales tax, administrative fees and filing fees.

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