Step by step
- 01
Make an offer
Your agent writes a simple sales agreement. You sign it, and offers and counter offers may go back and forth.
- 02
Get your closing quote
Once you agree on a price, your agent gets an exact closing cost quote from the attorney you choose.
- 03
Wire the earnest money
When both sides sign, you usually have 7 to 10 working days to wire a 10 percent deposit to the brokerage’s escrow account, and the property comes off the market.
- 04
Title and survey review
Within about 10 days your attorney receives the title, survey and other documents and starts checking them.
- 05
Set up your corporation, if you use one
Give the attorney the company name and its administrators, and decide whether they must sign together or can act on their own.
- 06
Gather the closing documents
Your agent helps the attorney collect the catastral certificate, an updated survey if needed, the paid tax receipts and the title documents.
- 07
Wire the final funds
At least a week before closing, wire the balance and the attorney’s fees.
- 08
Close
The attorney confirms the title is valid, everyone signs, and you receive copies of every document. If you cannot be there, a limited power of attorney lets someone sign for you.
- 09
Receive your registered title
Your registered title, and your corporate documents and shares if you used a corporation, arrive in about 6 to 9 months. Keep the originals safe.
- 10
Pay your property taxes each year
Taxes are paid at the municipal office in Coxen Hole or Oak Ridge, and your agent can arrange it for you.
Good to know
- Once your deposit is in and the seller meets the contract terms, backing out means losing the deposit. Be sure before you wire.
- If the title has a problem the seller cannot resolve, there is no closing and your funds are returned. This is rare.
- Closings can run late, so many buyers appoint a limited power of attorney in advance.
This guide is general information, not legal or tax advice. Laws and fees change, so confirm the details with a Honduran attorney.