Finding a Real Estate Agent in Belize Can Be Challenging
Are you thinking of selling property in Belize? We’ll help connect you with the right buyers, In order to get your property SOLD!
Buying and selling property in a foreign country can be exciting, if not a little overwhelming.
If you’re thinking of selling property here in Belize, here are a few other things to consider:
Don’t Forget Foreign Currency Fluctuations
When reporting the sale of foreign property on your US tax return, you’ll need to calculate two types of gains: the capital gain and the exchange rate gain. Many people forget to report the exchange rate gain. This can be calculated by converting the amount of the original loan and then converting it again at the time the loan was paid off.
Understand Your Bank Reporting Requirements
Do you know what you will do with the proceeds from the sale of your property?
If you plan to leave it in a foreign bank account and invest it abroad, you may have some additional US reporting requirements, such as FinCen 114 or Form 8938. While transferring funds into the US is not a taxable event, you may have additional bank reporting requirements should the amount exceed $10,000.
Seek Professional Help
You should definitely enlist the help of a professional real estate agent when selling your property in Belize.
Real estate agents have a network of contacts and sales tools they can leverage on behalf of their clients. They can also provide great advice and answer any questions you may have.
Belize Real Estate’s Top Agent
If you are thinking of selling your Belize property, please get in touch with us.
The real estate industry in Belize is not regulated, and you may be disheartened to find a lack of ethics and transparency. This is why Our Broker, Macarena Rose became a founding member of the first-ever Real Estate Association in Belize and served as its first President.
The Keller Williams Belize team promised to go above and beyond for our clients.
Our mission is to provide both expats and locals a safe haven for ethical real estate transactions.
We invite you to list your property with us and let us help you reach your financial goals. If you have any questions, please feel free to reach out to us. We always make time to answer any questions our clients may have.