The reasons why investors usually buy cheap property for sale by owner in Belize (FSBO) is because this can offer some unique advantages, but it also comes with some risks.
Featured Property:
Resort Development in Belize
Location
Stann Creek, Stann Creek West
Property Type
Investment
Bedrooms
3
Bathrooms
2.5
Price
$119,000
Corozal Town, located in Corozal District, sits at the very northern tip of Belize, sharing a border with the Mexican state of Quintana Roo and overlooking Chetumal Bay and the Caribbean Sea, roughly 84 miles north of Belize City.
Buying cheap property for 'Sale by Owner' is usually down to a lower price, there are No Agent Fees, as sellers often price FSBO properties lower because they're not paying a real estate agent commission which can be 5-6% of the sale price.
As a buyer or investor, there may be room to negotiate a better deal directly with the owner, which may allow for more flexible terms and quicker and easier negotiation.
If the property is undervalued due to being in poor condition or in a transitioning neighborhood, renovate to hold and build equity over time could be viable.
FSBO properties are often marketed less aggressively, meaning fewer buyers may be aware of the listing, and these properties are ideal for investors or looking to buy at a low price as FSBO deals are often below market value when requiring attention.
A higher risk of errors in paperwork or missing disclosures can though occur, so due diligence is required at all stages, and hiring a real estate attorney for the legal aspect is essential.
If you are an experienced buyer or investor, have cash on-hand or good options on financing, buying cheap property in Belize that is for 'Sale by Owner' can be an option.
Buying luxury properties in Belize can be a smart move for both investment and personal use, depending on your goals.
Belize offers very favorable property ownership laws where foreign investors and buyers have full property rights, which is not the same as in many other Caribbean and Central American countries.
