BELIZE ESCROW SERVICES (PURCHASE OF PROPERTY)
It is highly recommended that purchasers utilize escrow services when purchasing property in Belize. Once requested, the attorney will prepare a legal escrow agreement which will be signed and executed by all parties. The escrow agreement will allow purchaser an opportunity to safe guard their funds by placing it in the account of the attorney pending the closing of the sale of the property.
The escrow agreement essentially provides for the following:
- Names of the Parties
- Details of the funds to be received
- Notice of the contents of the Sale Agreement with respect to the closing date and default clauses
- Account of the Escrow Agent (Attorney)
- Details as to how instructions are taken by the escrow agent
The escrow funds are deposited into a non interest bearing trust account and as such are protected against any and all contingences.
We provide escrow services to our clients and are able to hold funds in any of the following currencies: United States Dollars (USD) and/or Belize Currency (BZE).
As a result of the existence of the escrow agreement the escrow funds are protected and are not disbursed until our firm receives instructions from both the Vendor and Purchaser.
Our fees: 0.5% of the purchase price or $600.00 BZE Dollars whichever is greater.
There are two types of escrow services that our firm provides, these are:
- Escrow Services whereby we are acting on behalf of one party; and
- Escrow Services whereby we act as an independent Third Party Agent
Please visit www.belize-escrow.com for more information with respect to our escrow services.