You need to evaluate your Roatan Real Estate Agent carefully before signing a listing agreement. This agreement will generally include the following stipulations: A time period usually between six and twelve months, a provision for the standard commission of 10% (5% for the potential buyers agent and 5% for your agent). The listing agreement is a binding contract. Commission will be taken out at closing from the sales price.
Tip: Before you list your Roatan property be sure you are committed to the possibility of a sale. If a potential buyer comes with a full offer during the listing period and you decide to back out of the sale, you will still be held responsible to pay 10% commission.
The duties of your Roatan Real Estate Agent will include: proper measurements of the Roatan property, take pictures and get as familiar with the features and amenities of your Roatan property and provided information for any additional expenses such as maintenance or membership fees. Your Roatan Real Estate Agent will also need copies of existing escrituras, surveys, tax receipts and any other important documents. If a corporation is involved, you should never give out your shares unless the property gets sold.
Your Real Estate Agent in Roatan Honduras will list your Roatan property with the Flex MLS or mls Roatan, Roatan’s multiple listing service. A good realtor in Roatan will invest time and money in marketing your property adequately. Make sure to ask for these extra services before you list.
When an offer is made, an agent’s duty is to present it to you immediately. Once the offer is acceptable to you both parties will sign the agreement and the due diligence period will begin. During this time, earnest money will be collected from the buyer all necessary documents will be compiled and any expenses will be collected by your realtor who will hold it in an escrow account.
Earnest money is customarily 1 to 10% of the listing price. The higher the earnest money the more serious your buyer. Real estate transactions on Roatan island Honduras generally close 45-90 days after an offer is accepted. Closing Costs will range between 4.5%- 6.5% of the sales price, unless the real estate is under a Honduran corporation. Then the cost will be somewhere within $1500 to $2000. If the property is under a Honduran corporation, you will only be required to change the administrator of the corporation and not the title. The buyer will pay this cost.
Once again we will be happy to assist you with any additional questions and hopefully will have the honor to represent you in your decision-making here in Roatan Bay Island.