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Purchasing Instructions

Steps to Purchasing a Home

Step 1.

Select Lot from the Master Plan lot layout. Lots are available on a first come, first served basis.

Step 2.

Fill out the Lot Purchase Request Form completely on the website. Be sure to provide all information requested and then submit the Lot Purchase Request Form by clicking the “SEND” button at the bottom of the form. Allow 72 hours to receive confirmation of your Lot(s) selection by return email. (If you like, you may contact us by phone to reserve a lot and follow up with an email to confirm your lot selection).

Step 3.

Select one of our models or choose to have a home custom built.  You may use your own architect or we can refer you.  In either case the purchaser will be responsible for architect charges. (We will need to work with the architect to make sure the home meets the requirements of SIPS and solar construction.)  We will send you a list of included finishes, appliances etc.  Additional charges may apply if you want different specifications.

Step 4.

A $40,000 lot deposit is required to reserve your lot. Upon receipt of your lot deposit the lot will be held for you pending closing of the house.

Once your home drawings and specifications are complete, we will then send you purchasing documents (Documentation) for you to execute. These documents should be executed and returned along with a deposit equal to 40% of the total purchase price. Issue a check made payable to The Canals At Mango Creek, Limited. Send your deposit and a signed copy of the Documentation to:

The Canals at Mango Creek Limited

c/o Courtney and Coye Law Firm

15 “A” Street, Belize City, BelizeC.A.

You have six months from the date of receipt of the lot deposit to complete the plans for your home and submit the documentation and additional 40% deposit. (See Step 5). If your Documentation and deposit have not been received within this time, the lot(s) that you have requested will be made available again to all prospective purchasers and the lot deposit forfeited, unless you make arrangements for an extension. Once we receive the 40% deposit we will order materials and schedule the construction of your home accordingly.

Step 5.

After you have received all design plans and build schedule from developer your order placement payment of 40% must be received within 30 days. After the house shell is built and the roof, windows, and doors are in (the home is weather tight), a further payment of 35% is due within 14 days (solar system and interior installation). Final payment of  the remainder plus closing costs is due at closing upon completion of home.

Step 6.

At the time of closing purchasers will be responsible to pay the Belize Government Stamp Tax and an administrative filing fee. The Stamp Tax is 5% of the home purchase price that exceeds US$10,000 and the administrative filing fee is 2% of the home purchase price, which purchasers must include in their final closing payment.

The closing documents include, but are not limited to,

(1) Transfer Instruments and Affidavits and/or Belize Transfer of Land document

(2) Transfer Certificate of Title or registered Land Certificate

(3) Survey

(4) Declaration of Covenants, Conditions, Restrictions, Easements & Building Guidelines for The Canals at Mango Creek (“Declaration”)

(5) Charge (Mortgage) Instruments, if applicable.

Your executed closing documents will be submitted to the Government of Belize for registration. The registration process is as follows:

Your closing documents will be delivered to the Land Tax Office in Belmopan (the Capital). The transaction is certified by the Commissioner of Land that there are no unpaid property taxes due on the property.

Closing documents are then forwarded to the Valuation Section of the Ministry of Natural Resources to ensure that the purchase price is reasonable market price.

Closing documents then proceed to the Land Utilization Authority for verification of subdivision approval.

Closing documents move to the Lands Registry to transfer the property into your name(s). Your name(s) is registered in the Lands Registry as the new owner(s) of the property.

Note:

1. If there is no mortgage on your property, a Transfer Certificate of Title or a registered Land Certificate will be issued by the Belize Lands Registry and mailed to you.

2. If there is a mortgage on your property, the Transfer Certificate of Title or registered Land Certificate will not be issued to you until the mortgage is satisfied (paid in full). However, you will be sent documentary evidence of your ownership of the property. After the mortgage is satisfied, a Transfer Certificate of Title or registered Land Certificate will be sent to you.

You must be over the age of 18 years to purchase property.

Still have questions? Feel free to contact us for a personalized consultation to answer any questions you may have.

Thank you for your interest. We look forward to hearing from you soon.

LOT PURCHASE REQUEST FORM

 

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