FSBO Properties Listed in Corozal, Belize

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.

Why Buy or Invest in Property in Belize?

Belize is an English speaking country, which is also its official language, which means making legal, financial, and daily transactions more straightforward for most international investors and buyers.

The currency used in Belize is the Dollar (BZD), which is pegged to the US Dollar at a stable rate (2 BZD = 1 USD), and US dollars are widely accepted throughout the country.

For investors and buyers in Belize real estate, the annual property taxes are it is noted is low, even for high-end properties, which can be ideal to generate the most income from rentals, plus there is the advantage of no capital gains tax in Belize, which again benefits real estate investors.

Belize benefits from a growing tourism sector, particularly in the eco-friendly and and marine based tourism sectors, which can result in higher vacation rental income for luxury beachfront and jungle properties.

Belize offers a Qualified Retired Persons Program (QRP) that provides tax exemptions and residency benefits to retirees who meet simple criteria, as well as no inheritance tax, estate tax, or capital gains tax.

Belize is a world-famous location for its natural beauty and eco-friendly reputation, has the second-largest barrier reef in the world, lush jungles, Mayan ruins, and abundant marine life.

To obtain a title to a property in Belize it is typically done via a fee simple, similar to the U.S., Canada, and the UK. A 'fee simple' refers to the most secure and common form of property ownership, granting the owner full and absolute rights to the land and any structures on it. This means you own the property outright, with the ability to use, sell, lease, or transfer it as you see fit, similar to ownership in the US and Canada.

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, and are comfortable to looking at FSBO properties listed in Corozal, Belize, and have cash on-hand or good options on financing, buying cheap property in Belize that is for 'Sale by Owner' can be an option.