What to look out for when buying a Condo in San Pedro

There are various corporations that sell condominiums on Ambergris Caye and there are some, like the Phoenix, where there is a waiting list for people to purchase. Grand Caribe is the biggest development in the country and goes from strength to straight, and there are many others that follow these good examples. There are, of course, others that you hear nothing but complaints about.

If the Ambergris Daily was going to buy a condo on Ambergris Caye, these are the questions that we would ask:

  1. Is the common ground owned by the condo owners, because obviously that should be the logical thing to happen.
  2. Can Family, Friends and Acquaintances use the condo.
  3. Can you rent your Condo long term.
  4. Can one vote out the hotel management company.
  5. Are there articles of association and rules for all Condo owners.
  6. Can you have pets in the Condo.
  7. Is there parking at the facility.
  8. Make sure there are no borrowings/liens etc on the land.
  9. When you purchase the condominium you must get title.
  10. You must employ a lawyer on pre-construction, where your money is in proper escrow and the guarantee that you get title when the Condo is finished and you move in.
  11. If there are rumours that all is not well, you have to be idiotic to purchase.
  12. Anything that takes more than a couple of years to complete is a major red flag. You need to check the developers and their reputation/track record.
  13. Immediately put a lien on the property.
  14. Only purchase strata-title property
  15. Check with the local Realtors and ask them if they would sell that particular property, and if not, why not as they are the experts.
  16. Make sure that the company who runs the hotel and property management section has to renew their contract yearly

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