Roatan Real Estate by Ralph Rivera



Guide to selling property in Roatan, Honduras

  1. Select a realtor that you are comfortable with. Make sure this realtor is a member of the MLS (Multiple Listing Service) and the RRA (Roatan Realtors Association). It will be to your advantage as that realtor will be able to market to all other realtor members of the MLS.
  2. Meet with the realtor and show your property/house/condo. Discuss all the specifics of this property, making sure to disclose anything that is germane to the sale of this property.
  3. Make sure you and your realtor are on the same page as regards the pricing of your property. Ask for a comparative market analysis of other properties that have sold in your area. Not listed, but sold.
  4. Sign a listing agreement with your realtor and ask when you can expect to see your property advertised not only on his or her website, but also on the MLS website.
  5. Make sure that all paperwork regarding this property is in order and that your realtor has copies of the following:
    1. Catastral certificate
    2. Paid tax receipts for the current year and perhaps the last 3 years
    3. A copy of a signed and stamped survey of the property
    4. A copy of the escritura publica
  6. Once you have an interested party you will receive an offering on the property in the form of a sales contract with:
    1. Price offering.
    2. Specific dates for acceptance.
    3. Any contingencies the buyer has added into the contract.
    4. The terms of payment.
    5. A date the earnest money (usually 10% of purchase price) is due.
    6. A date for closing. On this date, the remaining monies must be wire transferred to an agreed upon escrow or holding account and will be dispersed to you along with earnest monies on the day of closing.
  7. If you accept this offer in writing and sign your acceptance, your property is no longer available for sale and is considered "under contract". If the earnest monies are not wired to a mutually agreed upon escrow account by the time set forth in the contract, then the seller may put the offering back on the market.
  8. On the date of your closing, if you cannot be present, you may appoint someone with a power of attorney to represent you in conveying on your behalf the property you are selling. Many times this person is the realtor that you have chosen to work with in selling this land, though it can be anyone you choose. The power of attorney, if done here in Honduras while you are present is much easier to obtain than a power of attorney from outside of Honduras. An example is a power of attorney from the United States must be notarized by a Notary Public and then an Apostille must be obtained from the secretary of the state of the state in which it was notarized.
  9. Sellers are now obligated by the new duty free trade zone laws to pay a 4% capitol gains tax on the sale of their property. This must be paid at the offices of Zolitur in French Harbour. - Roatan Real Estate