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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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