Honduras » The Purchase Process

Investing in Honduras offers a wide range of opportunity and buying real estate in Honduras can be highly profitable. But it is also quite risky if you try to go it alone. You are going to need someone by your side who understands Honduras.

There are some restrictions on owning real estate in Honduras. As an individual foreigner, you are allowed to buy property not exceeding three quarters of an acre. Coastal land, and land within 25 miles of international borders, is restricted, but a purchase may be permitted if you obtain approval from the Tourism Institute and start construction within 36 months.

Steps are given below to purchase property in Honduras.

• First find a property you like then your real estate agent will create a simple sales agreement and after review, sign and start it.
• Now you have seven working days to get the 10% money paid as security wired to your real estate agent’s escrow account once the contract is approved by both you and the seller. 
• Within the first 10 days after you sign the sales agreement, you or your legal agent will receive both a survey and title.  The attorney begins his work at that time in checking the documents.
• If you need to or choose to put the property in a corporation, you will need to provide the attorney with the name of the corporation you want (or corporation set in this case), and who the administrator or administrators will be. 
• The attorneys will provide you with closing costs, which are all paid at closing.
• During the time you are waiting for the closing, your real estate agent assists the attorneys in getting the certificacion catastral (registered plot), the survey, the paid tax receipts, etc. to make the closing and title insurance work.
• Now in the end you sign the documents and the seller signs those documents also and the real estate gets the confirmation that now you owns the property.
• The seller gets his proceeds and the attorney is paid as well.