Buying a lot in Roatan - how to proceed? Please help

Hello Bluewaters7 and welcome on board

The number one advice around, is not to transfer any amount until you have seen and verified everything about the property you are going to purchase.

I invite you to read out threads on the forum so as to gather as much info while waiting for members to enlighten your queries.

Kenjee
Expat.com Team

is there a direct link to those threads or do i just have to scroll the forum thread to find the answer?

(Moderated: no free ads here please)

     first step to do is check the documents with an attorney chosen by you and do not wire the money to the seller, once you check docs are in order, send the money to an escrow account.

     A lot of sellers just claim to own properties and do not have papers in order or don´t own anything, including foreigners

Kenjee,  Once I verified the below; do you think it's okay to proceed with deposit and get a lawyer or get a lawyer, then deposit?
> -Escritura Publica or Corporation
> -Survey
> -Catastral
> -Copy of of ID of the Seller to verify that is the seller
> -Property taxes 2015


Thanks,  Susan

Ok; so get docs and then have lawyer verify before sending any money.  Can do!  Thank you for your help. 

Any time,

   first check with your attorney or the one that will represent you, not the other party, then once He checks everything is good, He will write you a promise of purchase estating the price, downpayment, owner, seller, lot etc with the signature of both of you and then wire the money. Seller shat have all documents ready to sell, real estate taxes paid,city hall documents, etc.  A good attorney shall guide you.

Ok. makes sense.  Thanks, Cesar!

Hello Bluewaters7:
My name is JORGE LOPEZ and I'm an Attorney with offices in La Ceiba, but I also handle legal matters for several clients in the Bay Islands.
Any Real Estate Property deal must start with the exchange of a Purchase Agreement, even if the transaction will take place with a one-time payment.- As part of that Agreement, The Seller must provide to The Buyer a copy of the Title of the property, so The Seller may conduct a proper Title Search (usually done by an Attorney).
The payment schedule must be agreed on, so the Closing will take place according to the conditions that both parties must set on the Agreement.
Let me know if I may be of any assistance.
My email address is [email protected]
Regards,
JORGE LOPEZ

Bluewaters, you have gotten some good advise, but I would take it a step further and physically go sit down with a Real Estate lawyer on Roatan and inquire about the property, the area and the seller to make sure everything is above board. There are a couple of good English speaking RE lawyers living/working on Island who would be happy to help. If you'd like my personal recommended about who to see, ask. Just my $.02

Hi Bluewaters,

I would recommend that you choose a licensed realtor, in the Roatan Realtor's Association, myself or anyone.  Have a look at roatanmls.com for the full list of companies.  They should hold your earnest money, not a seller.  I would get a recommendation of an attorney from the broker.  I would look at various properties to see what is available. 

On Roatan we have an excellent real estate multiple listing system (MLS) with hundreds of properties listed.  That really gives buyers an advantage to see what's available across all the companies.  You can see all the listings at the below link:

tinyurl.com/fullmls

Thanks and please let me know on any questions.

Best regards,
Steve - Roatan Life Real Estate

[Moderated by Kenjee : No free publicity on the forum please register your services in the Business directory ]

Thank you, Jorge, for the information.  If the seller after agreeing on a price; then says I need 5000 for a walkway improvement and 1000 for water to run to the property; is that a bit suspicious?  Shouldn't that have been included in the price we had agreed on?  And the deposit; if you were the attorney; wouldn't you hold the earnest money since the contract is pending?  Thanks,  Blue

The problem is the local I'm dealing with doesn't want real estate people involved.  Supposed this person I'm dealing with has a good reputation, but I'm a bit concerned when he tacks on 11,000 in costs from the original agreed upon price.  5000 in closing costs, 1000 for water lines to be brought to property; 4000 in walkway access.  It made me step back.

Yes, I would love your 2 cents; what lawyer would you recommend?  Thanks, B

Keena Haylock 9969 7261

Seriously? That is just nonsense. Look, there are over 270 lots for sale on the island right now, properly titled, properly represented. Why on earth do you want to risk paying too much for the property, (as almost for sure you are by the sounds of it) and being played for a sucker. I have never heard of those kind of terms. Get a real Realtor who is part of the RRA - me, or anyone else but don't walk, run away from that deal!

Best of Life!
Edward

Well, the only lots under 60,000 in West Bay are total junk; this is a stone's throw from West Bay and a nice location...but I'm listening to what you are saying.  The fact you have never heard of those terms is definitely scary.  I still want that lot; but I don't want to get ripped off.  At least this tells me I'm being played...

Yes, you are being played big time. I live in West Bay and I know all the property around there. I am surprised at one of the owners doing this. Do you mind me asking what owner and what property? I could at least give you some better advice.

Frank And Dubert Ebanks.  They own the store at the end of West End.  The land is in Turtle Beach, which is where I want to be.

They sent me what they claim was a survey of the land and in return wanted 5000 to hold the lot.
This was their verbiage: 

"Attached please find copy of the survey for lot # 4 and a breakdown of the point discussed.


    55,000 for one lot and 100,000 for two lots option - 5,000 deposit to hold lot and 50,000 at closing. 
    5,000 for closing cost.
    5,000 for beach access path and road improvement.
    1,000 for water hook up.


If you have any question - don't hesitate to contact us."

Blue, if you really like the location and the lot, then you might want to ask the sellers to give you the names of people that have already bought from them, if they're willing to do this, it's a good sign, then ask the previous buyers about their experience with the sellers. If they are not willing to give up the names and numbers for any previous buyers or if they have not sold any lots so far, then you might want to re-think your approach. Otherwise, past buyers should be a good indication and what can be expected.

Yes.  Good advice.   I am going back next month and plan on canvassing everyone within distance to the lot about the sellers, including the contractor that is building on those lots right now.  Supposedly he's supposed to be a good guy, too.  I am going to research, do my R&D, until people are sick of me asking; including validating these people's reputation, or lack thereof.  I understood the initial request not to bring in a real estate person if these people were above board; but that's a big "if."  It appears it's a constant scam to resell properties over and over there again...the fact they tacked on 11 grand after agreeing to a lot price is a big red flag and huge turn off for me.  I still really want the lot, though.  I like what the contractor did with the construction in the area; it makes the most sense out of anything I've seen and I have seen enough to see nothing but this resonates with me.  I hate the hoa fee crapola...I don't like the condo living as I have dogs....lighthouse estates are nice but the layouts I saw were less than desireable and then you are in a cookie cutter stepford environment....

Why can't these developers have a contract in English for Canadian and US buyers?  Thats not very smart to sign a contract or agreement you can't read.  Just a bunch of scammers.  Come to Canada and I will write up a purchase agreement for you in the native language of the Blackfoot tribe nation.  I bet you wouldn't sign that.  Honduras is not on the up and up even these lawyers are shady.

What you should do is get the Spanish contract faxed to you and get a Lawyer near you that can read Spanish and thoroughly go through it.  Make sure everything is correct and then go down to Honduras and take the faxed copy with you and make sure it is exactly the same and sign it in front of a Honduras Lawyer and you should be good to go after the land is verified that the seller is actually the owner.

Hi,

I know them and the property well. It isn't exactly a stroll to West Bay but it is a decent location. I don't think they would actually try to screw you as they are pretty decent people but they also have no clue how to structure a real estate deal so it is more than a little unconventional and potentially a little dangerous for you with what they want. Let me know if you want a hand. I know of several other properties for sale right there that they had previously sold as a package that would also work for you. Or I could structure the deal on the specific lot you want correctly for you. Whatever you would like.

I can't quite understand why you wouldn't want a professional helping you. We have a professional association here that uses the same Code of Ethics and Standards of Business Conduct as CREA in Canada and NAR in the USA. We use a standardized and approved purchase contract IN ENGLISH. By the way, any document not done in Spanish is not legal in the country, except this one. That is why the sellers are doing that. Also There are many bad lawyers here, as there are everywhere but there are a handful of very competent and honest ones as well. Having done hundreds of deals here we know who are the good ones to recommend. Just another of many services that we friendly real estate people offer :-) You are strangers in a strange land. Try getting the closings done by yourself or opening a bank account or getting phone or internet service etc. Sure you can eventually get it all done all by yourself but if you look in the dictionary under frustration you will see these things listed. We help you to smoothly navigate these uncharted waters. And you don't pay anything for it. Not a bad deal I figure.

Ed - email me at [email protected] and I will explain to you....

Bluewaters,
I hope you don't mind, but I emailed you.  My husband and I are also thinking of buying one of the lots behind Turtle Beach and I had some questions for you.

not at all, what is your question?

This is good advice and anyone who does not pay attention to it will be scammed. Choose a reputable attorney! I will recommend one, however you must write me [email protected], so I am not accused of spamming the blog.

Did you end up buying the lot? How was the seller as far as communication during the negotiation? Where do you get your plans?  We are right now working on just financing the lot. Plan to build in a few years, but would like to see what work we might be able to get done up front to pay for as we go.

You must bring the original papers and proof of tax payment to a reputable attorney. If you do not do this you will be giving your money to charity. I would only give payment to the person in the presence of an attorney!

You need to handle this procedure through a Honduran attorney!