Roatán Waterfront Lots


Prime Waterfront Land For Sale

FAQ's

CAN A FOREIGNER OWN REAL ESTATE IN HONDURAS?

Yes, absolutely... as a resident or non-resident, it has been legal for foreigners to own up to (.72) acres of land in Honduras since 1991. However, you can form a Honduran corporation with the assistance of a local attorney (for about US$1,500) and the corporation has no limits on the amount of properties it can own and control.

WHAT IS THE PROCESS FOR BUYING PROPERTY ON Roatán?

Once you have found the property you want to purchase you'll generally pay an earnest money deposit of 10% to 20% toward the purchase price.  The balance of the funds are paid prior to closing which is usually 30 to 45 days later, unless other arrangements are agreed upon between buyer and seller. Funds are normally wired through the banking system. 

IS THERE BANK FINANCING?

Local banks will finance your purchase if you are a legal resident or Honduran citizen, however, the down payment required by banks and the rates of interest are considerably higher then you may be used to back home.  However, occasionally you will find financing through the seller.  OWNER FINANCING IS CURRENTLY AVAILABLE FOR THE LOTS SHOWN ON THIS WEB SITE.  The process normally involves a registered financing agreement with the title placed into escrow. Click on the "Financing" above for more information.

HOW MUCH ARE CLOSING COST?

Closing cost for the buyer will be around 4% to 5% of the purchase price. Part of this fee is for the property transfer tax based upon the purchase price and other fees including the attorney fee, administrative expenses and closing agent fee. The seller normally pays all the sales commission and the capital gains tax of 4% collected at closing based upon net profit.

HOW DO I KNOW THE PROPERTY TITLE IS CLEAN?

All closings are performed by a local real estate attorney that is responsible for checking all title documents and handle all the details to facilitate a successful closing.  The title search is performed and a Honduran government property inspector from the local municipal office is sent to the  property location to verify survey points, markers and any appurtenances that may be attached to the land as part of the sale.  When all is satisfactory the municipality will issue a registered "Catastral Certificate" guaranteeing the title to be free of defects.

HOW MUCH ARE PROPERTY TAXES?

Property taxes on Roatán are very reasonable. You can expect to pay about 3.5% per US$1,000 of the assessed value annually.  Expect to pay approximately US$1,050 annually for a property valued at US$300,000. 

CONSTRUCTION COST?

Quality wood construction cost approximately US$90 per square foot and concrete will cost about $20 more per square foot.  These numbers are for the enclosed area of your house.  Any decking and other open areas are considerably less.  Newer homes constructed on Roatán will generally surpass US Building Code.  It's a good idea to submit your building plans to more then one experienced local builder for bids after you've done your homework by checking their reputation, inspected their previous projects and talked with the people they've worked for in the past.  Be sure that they're not so busy that they won't have the time to devote full attention to your project when you're ready to start.  Local Realtor's can be very helpful in providing builder information.

WHAT ABOUT BANKING?

There are 4 or 5 banks located on Roatán and they are, in most cases, branches of larger international banks.  Most provide both US dollar accounts and Lempira (local currency) accounts.  The exchange rate is a little over (23) Lempira to the dollar. Send funds to anyone or to yourself using your laptop or phone via "XOOM" money services, a PayPal owned company. 

IS THERE INTERNET ACCESS?

Yes... internet access is available, and you can still operate your business right from your home office here at Punta Blanca.  Also, most hotels and several restaurants provide free WiFi service (currently 3G).  You can receive and send your email as well as take care of other business online while vacationing. You can also make  phone calls to the US and Canada using your VOIP services like Vonage, Magic Jack, netTalk, Packet8, Skype to Skype, etc. A service called netTalk is very popular and the connection device can be carried in your pocket.  More recently Magic Jack can also be used the same way to make free long distance calls back home.

WHAT ABOUT LOCAL PHONE SERVICE?

If your cell phone is unlocked you can install a SIM card and purchase minutes for local service.  Or, you can purchase a cell phone from one of the local companies on Roatán for about $25.00 which normally includes 20 minutes.  Additional time is sold for $5.00 (100 Lempira) for 20 minute increments.  Your minutes are usually good for several months.  The companies currently offering this service are Tigo, Clairo.  Depending upon where you'll be spending most of your time on island should determine which company you go with.  Coverage is an important question to ask before deciding. All companies have sales outlets in the main shopping areas.

HOW DO I ESTABLISH RESIDENCY?

For retirement residency you'll have to prove an outside source of income of US$1,500 per month.  One of the advantages of retirement residency is a one time duty free exemption for all your household goods shipped in and every 5 years you can bring in a new car and/or boat duty free. There are also other classes of residency such as Investor residency, Employee residency and Family residency (marriage to a Honduran citizen or parent of a Honduran child.)  Be sure to use a competent attorney that has been recommended and references checked.

HOW IS THE DIVING ON Roatán?

Roatán is considered by divers as one of the very best locations in the world for snorkeling and scuba diving. There are dozens of dive sites on Roatán, as well as throughout all the Bay Islands.  Day and night dives, shark dives, wreck dives and Whale Shark adventures are all provided.  With dive shops eager for your business you won't be disappointed.  There are small private operators and larger companies that will arrange your dives to suit your interests.  You'll find all the contact information online and you can make arrangements before or after you arrive.  Equipment rentals abound, but best to bring your own excluding weight belt and tanks of course.

CAR RENTALS?

There are several car rental agencies on island.  If they're not currently located at the airport they will gladly pick you up.  It's best to make a reservation a couple of weeks before your arrival, especially if it's the busier season that runs from late fall through Easter weekend. Taxi service is available island wide.  It's not uncommon for your driver to make a few stops as he picks up and drops off passengers along the way.  You'll have to pay a little more for non stop service.

WHERE TO STAY ON Roatán?

There are several newer hotels on Roatán.  Some are 4 and 5 star facilities with lavish amenities.  But, many are far less expensive.  Nearly all can be found and booked online.  However, it is best if you know which area of the island you'll want to be so you won't waste valuable time driving.  There are several weekly and monthly fully furnished vacation rentals available, also.  They range from Condo's and small Casitas to beautiful waterfront homes and view homes.  Local Realtors will help you find these gems if you don't see what you're looking for online.

Hopefully this page has been helpful, but PLEASE don't hesitate to CONTACT me with any of your questions about Roatán and my waterfront lots.

John  281 880-6900    RoatanLand@att.net