Negotiating for property: Once you find property that you want to buy, don’t delay in making an offer. The market in Belize is simply too robust to wait. With the help of a real estate agent and attorney, prepare an Offer of Purchase to present to the property owner. It should include your name, the name of the seller, the property’s legal description, the purchase price you’re offering, and the terms of the deal.

You submit this with a deposit—usually 10%. Most real estate offices have a standard form they use for this. At this point an attorney can research the title and take care of the paperwork needed to complete the sale, including registering your title to the property. The earlier you engage an attorney, the better, and you should not use the same attorney as the seller.

Title insurance: While the vast majority of Belizean real estate agents are honest, a few may not be as diligent as they should be, especially in a fast-paced market. Moreover, even the best attorneys can make mistakes. For those reasons, it’s always wise to invest in title insurance. First American Title Insurance Company provides title insurance in Belize.

Closing costs: You’re likely to pay about 18% in closing costs. In addition to the 2% to 3% that attorneys charge, there’s a stamp duty (transfer tax) of 15%, as well as fees to register the property in your name.

Real estate tax: About 1.5% of the property’s assessed value, payable annually.