Buying Property in a Foreign Land

[teleee]

As I get closer to ending the chapter of my life that includes gainful employment my wife and I are working on our exit strategy. Part of that plan includes living somewhere part time that has palm trees and can feed our fly fishing jones.
We have settled on Belize as the place we are going to make it happen. We have found a place that satisfies our wants and are preparing the offer to the seller. Just thought I would tap the collective for lessons learned, advice,etc…
We have a local lawyer to represent us as well as a (native) friend who is a builder that can inspect the property for us. But still the fear of buying in a foreign land site unseen is definitely keeping me up at night. Thoughts, advice and ridicule is welcome.


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[irul&ublo]

How is the tele scene in Belize?

[Timberridge]

How is the tele scene in Belize?

Dying, like everywhere else.

[BmillsSkier]

Don’t let Rontele hear that talk.

[BobMc]

Don't shoot your neighbor and flee to Guatemala.

[Timberridge]

Based on SFB's posts I thought Utah already had some pretty good fly fishing. Belize must be amazing.

[teleee]

How is the tele scene in Belize?

I feel like its the perfect place for it to make a resurgence. And hey if it doesn’t pan out I can always flee to Guatemala.


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[MakersTeleMark]

I know a bunch of people who own in Belize. Why would you by sight unseen? That is ridiculous, no matter where.

[BmillsSkier]

I’m subscribed to this process regardless. Good luck man.

[teleee]

I know a bunch of people who own in Belize. Why would you by sight unseen? That is ridiculous, no matter where.

Final inspection would require a trip down to inspect visually


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[Cono Este]

Check the local inheritance laws etc. Relative can come back yrs later and claim they have an interest. Chile is like that, So is Italy. When my Dad bought his land in Chile he had to get all kinds family to sign off. That’s why you see those awesome chalets on lake como falling in on themselves. Tied up in court for decades.

In other wards. Check with local lawyers, make sure title is clean.

[mcphee]

To what extent does alcoholism affect reading comprehension? Wrong thread?

[skaredshtles]

I'd just rent a place...

[Timberridge]

I'd just rent a place...

This. Rent and get the lay of the land first. You can ask people all the questions you want on the TGRz but until you live in a place for a bit you will never know.

[AK47bp]

He should at least explore the benefits of fractional ownership.

[liv2ski]

Check the local inheritance laws etc. Relative can come back yrs later and claim they have an interest. Chile is like that, So is Italy. When my Dad bought his land in Chile he had to get all kinds family to sign off. That’s why you see those awesome chalets on lake como falling in on themselves. Tied up in court for decades.

In other wards. Check with local lawyers, make sure title is clean.

To Cono's comments, check into Title Insurance availability for sure. I would never buy without it.

[skaredshtles]

This. Rent and get the lay of the land first. You can ask people all the questions you want on the TGRz but until you live in a place for a bit you will never know.

Rent indefinitely. I'd personally not want to own property in a foreign country... but then again, I don't really want to own property in THIS country either.

[skaredshtles]

He should at least explore the benefits of fractional ownership.

[BmillsSkier]

He should at least explore the benefits of fractional ownership.

There it is.

[Peruvian]

I with 3rd (4th?) the idea of a long term rental. Stash the house sale money in another investment.

[teleee]

He should at least explore the benefits of fractional ownership.

If only I would have thought of that!
Lawyer is already engaged and yes title. Insurance is a must and totally available. Belize is one of the friendliest countries for not nationals to buy, the laws and rights are the same for both nationals and non nationals. In addition the no capitol gains makes it very friendly from a resale position. We have spent a lot of time in Belize, I am not interested in renting, this is an investment as much as a retirement locale.
That being said, now I have to go look at the whole fractional ownership!


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[MakersTeleMark]

Whole fractional ownership is basically what you are signing up for.

[teleee]

Whole fractional ownership is basically what you are signing up for.

My wife might disagree


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[MakersTeleMark]

My wife might disagree


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Maybe she doesn't understand fractions then.

[teleee]

Maybe she doesn't understand fractions then.

That I can guarantee you.


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