Buying Property

Chip1234 wrote:

All
I am in the very beginning stages of  considering investment property in the south of Belize and have some questions for the locals.
I understand the property laws would be similar to what i am used to in the USA, is that accurate

This question is very broad brushed, and how can anyone know what you are used to? However I will make a guess you are really asking if you can actually take title to property in your name. The answer is yes. How and when one takes title is different as are many other details, but is quite doable. If my guess is wrong, please refocus your question. 

Chip1234 wrote:

What are property taxes like esp for agricultural land ?

Property taxes are too low to worry about. Personally I feel the local governments are missing a much needed revenue stream.

Chip1234 wrote:

Is corruption an excessive problem?

No.

Chip1234 wrote:

Is there any advice for this pre-visit stage of research?

Go back and read more in this forum, lots of good info here, but pay attention to the age of messages as things change all the time. Also focus your questions to enable more accurate responses.

You are at the stage where you don't know what you don't know.  
Other info sources are of course Search engines with focused questions,  Belize Government websites, and Belize realtor websites.  On Realtor sites ignore the fluff, focus on what is currently in place, not future predictions or promises.

I visited Belize many times over several years and learned a lot each time before I bought a small home in Placencia. I would not advise anyone to expect to be able to learn enough in one or two short trips to learn enough to make wise real estate investment choices. Belize is different but wonderful.

I agree that on the ground research is what you need. Different people like different things. If you're in it for investment, I agree that the south is a good place to start. Just know that everything moves slow here, and infrastructure still isn't that great.
This forum is a great resource. Like Will said, check the dates, and ignore the few obnoxious people. Most of them don't even live here.

Assuming you find the right property with clear title, you still need to have a plan what to do with the property and if any income can be generated from your planned investment

Spice man makes a good point Belize is a third world country so dealing with infrastructure issues will be shall we say unique . Belize is also a retirement destination so people will be looking for the lowest possible cost in terms of buying a house or whatever you decide to develop. Off the Grid infrastructure is a popular thing in Belize solar UV water things like that. I would also add that there is some contested Land issues in Belize with the maya who view areas as theirs I can't give you much information on where and how much of a problem it is but it is certainly something to pay attention to. There are occasional border issues with Guatemala and poachers/Smugglers

I have been reading a lot in these forums about ensuring the the property title is free and clear .... is this a issue or just preventing future problem's

It has been an issue. Sometimes people willfully claim to own something they do not actually own, and sometimes people think they own something they don't actually have title to. Someone may, for example, have been farming a piece of land for a long while, generations even, but they haven't paid taxes or completed the right paperwork, so they think they own it, but they don't. You do NOT want to put yourself in the middle of that ugliness.

My wife and I purchased 30 acres in the Toledo district. We hired a law firm who handled the title search and the closing.  I hold title by way of "Deed of Conveyance". Our land has been registered at the Lands Department (also handled by the law firm). I purchased Title insurance from RFG Insurance company. We hired a Belizeab architect to design our home and got our approvals form the Central Belize Authority.

Our current taxes is 15.00 US per year (obviously not an issue). My RFG agent stated that they will not provide insurance for buldings with "thatched" roofs. I don't know if thats country wide or specific to Toledo district.  And as one previous poster stated, its a "potential untapped revenue stream" for the government. I am aware of the land rights issue, and the Mayan have one recognition of the rights to their indigenous land via a court decision by the Carribbean Court of Justice, which is the final arbiter. Obviously stay away from any land where clear and documented title cannot be produced. I would recommend.

1. Use a reputable law firm
2. Make sure title search is part of process
3. Make sure law firm will handle the land registration process

@Chip1234
I have to concur with the above. We purchased some acreage on the Cayo/Stann Creek border along the Hummingbird Hwy 2 years ago utilizing a realtor and an attorney, and it was a smooth process, though time consuming - which was not a surprise.
Do your due-diligence in searching for and looking at property, and make sure you use a competent attorney who is registered/licensed in Belize.
Our road is currently under construction, and next comes the house.
-Property laws are based on those of Great Britain and similar to the US
-generally no 'squatter' issues, but it can happen, depending on the specific circumstances per my attorney
Good luck on your quest.

While looking on this bank website for other information, I came across this link of foreclosed properties being sold by this bank. I have no connection to this bank other than a small savings account, but thought  the information might be of interest to someone reading this forum.  http://www.atlanticibl.com/foreclosures/