buying resort property in Honduras page 3 - Honduras forum

buying resort property in Honduras

421POSTS

14 years ago

I did see your review a while back too. The one you were not happy about the canal along with a few other issues. I met Canadian family that purchased a few lots in the Trujillo development and the new one west of La Ceiba. They are not pleased and are going through heck getting their $ back.

dogdave Member

10POSTS

14 years ago

#82

Once they receive there deeds they can resell anytime.

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tamadrum Active member

32POSTS

13 years ago

#83

Is 300 yards from the beach really "beachfront"?聽 I bought 2 lots further back in TBED but I'm happy I didn't pay the "beachfront" premium.聽

Is there a minimum set-back from the beach or by-law for beach property?聽 I also bought beachfront in La Ceiba and paid a premium but its right on the beach judging by the site survey and my recent visit there.

dogdave Member

10POSTS

13 years ago

#84

They call the whole development beach front which It is technically but my lots are a lot less expensive being at the back and I can see the ocean from back there and up front you cannot because of the dunes blocking the view .
Dave.

honduraschris Serial expat

421POSTS

13 years ago

#85

dogdave wrote:
Once they receive there deeds they can resell anytime.

Who's lot would sell first when there are many clients of Recap that want to sell their lots now and Recap is the only one that can sell the lots (even for re sale). *this was told to me today by a former Recap worker

Atlantica Guest

0POSTS

13 years ago

#86

dogdave wrote:
They call the whole development beach front which It is technically but my lots are a lot less expensive being at the back and I can see the ocean from back there and up front you cannot because of the dunes blocking the view .
Dave.

Technically....300 meters from the beach for front row lots are not "beachfront" in my opinion. The resort is coastal with beach view and beach access.

Perhaps Chris could tell us the distance his properties in La Ceiba are from the actual beach? Or if there is any by-law for minimum distance from beach or water edge. Just curious.

Like you Dave I am situated further back but I'm okay knowing that I didn't pay a premium for Front Row "view".

Atlantica Guest

0POSTS

13 years ago

#87

honduraschris wrote:
dogdave wrote:
Once they receive there deeds they can resell anytime.

Who's lot would sell first when there are many clients of Recap that want to sell their lots now and Recap is the only one that can sell the lots (even for re sale). *this was told to me today by a former Recap worker

Buyers that formed a stock corp do not have to sell through Recap. Transferring the shares automatically transfers title. However, with Recap's huge web presence and marketing it may sell faster through their re-sale program....I guess.

honduraschris Serial expat

421POSTS

13 years ago

#88

There's a 60 ft setback from hightide. Your title will state the Northern boundary is the beach. Nobody can build in front of you.

Nothing like stepping off your porch on to the beach sand !!

tamadrum Active member

32POSTS

13 years ago

#89

honduraschris wrote:
There's a 60 ft setback from hightide. Your title will state the Northern boundary is the beach. Nobody can build in front of you.

Nothing like stepping off your porch on to the beach sand !!

Thanks Chris....20 yards is more like beachfront compared to 300 yards.

tamadrum Active member

32POSTS

13 years ago

#90

I guess 300m could be acceptable as both beach view and beach front as long as no building obstructs your view or access. But I could not justify paying extra.

I know of a few unhappy front row fellow TBED neighbors.

alberta321 Member

3POSTS

13 years ago

#91

A lot of discussion of beachfront and all of that, all i know no one can build between me and the ocean so once the larger homes are built on the first row of lots the lots in the back won't have such a great view maybe a sliver of the ocean between homes, that is why i bought in the front and if and when i build i will build a large as possible home to cover the whole width of the lot. The investment outweighs the risks at the moment. It is all about a return on investment and there are only so many front row lots.

AllysonMontagna Member

13POSTS

13 years ago

#92

tamadrum wrote:
I guess 300m could be acceptable as both beach view and beach front as long as no building obstructs your view or access. But I could not justify paying extra.

I know of a few unhappy front row fellow TBED neighbors.

I own a front row lot and i have a beautiful view of the ocean, when i went to visit the site it was about a 1-2 minute walk to the water.

it is a beautiful gated community and i am overall very happy with my property.

Julien Founder

53180POSTS

13 years ago

#93

Hi,

sorry I had to move a few messages to a private (mod) forum.

Please remember that advertisement is not welcome on the forums !

tamadrum Active member

32POSTS

13 years ago

#94

It is a pity that this rule only applies to some posters and not all.

It is also a pity that a certain La Ceiba property owner trolls these forums for sales leads and thrashes every other property that is mentioned or advised.

1 member reacted to this post

pateu Member

22POSTS

13 years ago

#95

hi guys we just got our TBED land title just wondering if anybody has any issue with that?how come you can't be the shareholder of you corporations?what do you think about that.just wondering if anybody had any problem ..thanks.any thought appreciated...

Julien Founder

53180POSTS

13 years ago

#96

It is a pity that this rule only applies to some posters and not all.

please do not hesitate to press the "report" button, it will definitely help us to identify problems.

Thanks in advance for your consideration

honduraschris Serial expat

421POSTS

13 years ago

#97

pateu wrote:
hi guys we just got our TBED land title just wondering if anybody has any issue with that?how come you can't be the shareholder of you corporations?what do you think about that.just wondering if anybody had any problem ..thanks.any thought appreciated...

In a "S.A." type corporation, you have 2 Hondurans on the face of the corp. They sign their shares (225) over to you. You then have an attorney register your shares in your name. If the shares are not signed over and properly registered, someone could technically sell your property. I'm not sure which corporation you have or they use for the clients but this is how all the corps I've seen created work for foreigners.

IslandEd1 Active member

91POSTS

13 years ago

#98

Also the original "shareholders" need to hold a meeting whereby they resign as administrators and appoint you. This of course is done at the same time the actual original document is done and entered in the escritura (deed).

pateu Member

22POSTS

13 years ago

#99

thanks guys...really appreciated...

conchita55 Member

3POSTS

13 years ago

#100

I COULD GIVE YOU INFORMATION REGARDING TRUJILLO COLON HONDURAS

础耻谤茅濒颈别 ViP

22735POSTS

13 years ago

#101

@conchita55 - Can you please lower caps lock when writing so as to ease the reading?

Maybe you can give some informations directly on the forum. It may help other members as well.

Thank you,
础耻谤茅濒颈别

tamadrum Active member

32POSTS

13 years ago

#102

conchita55 wrote:
I COULD GIVE YOU INFORMATION REGARDING TRUJILLO COLON HONDURAS

conchitta55....How is the cruise ship terminal coming along? Is it having a positive impact among the locals?

conchita55 Member

3POSTS

13 years ago

#103

The cruise ship terminal is coming along just fine,there is a lot of work taking place in order to have it done as soon as possible.
there is also a "model city" coming to trujillo.
land is definetly going up due to all the tourism that will be heading this way.

I will be glad to answer questions concerning trujillo as they come.

Regards.

honduraschris Serial expat

421POSTS

13 years ago

#104

The model city deal is having problems. It has been on the news lately.
That's great that the cruise terminal is coming along.

conchita55 Member

3POSTS

13 years ago

#105

True,the model city deal is having problems,the government definetly wants to close the deal but the people of honduras are against it.
I DOUBT it will take place.

pateu Member

22POSTS

13 years ago

#106

What do you mean by model cty?

AllysonMontagna Member

13POSTS

13 years ago

#107

The charter City is a great initiative set out by the government. It will be a city

I think this is the biggest thing to happen to Honduras. I have read a lot about the charter city and i feel it will bring new jobs and employment聽 to the people of Honduras. This will help with the poverty in the country and potentially bring in tourism and growth to the country.

hgcastmo Member

0POSTS

13 years ago

#108

[Moderated: No free ad on the forum]

Njoitrujillo Member

13POSTS

13 years ago

#109

They do say that the first cruise ship will be making its way into Trujillo by December.聽 Lets wait and see.聽 This is great news for Trujillo.

Adam100 Member

1POSTS

13 years ago

#110

[Moderated: no free ads pls]

Atlantica Guest

0POSTS

13 years ago

#111

I've posted this elsewhere on this blog, but there seem to be so many threads basically dealing with the same or very closely related topics that I feel it would be helpful to repeat it here to make sure it's seen by as many people as possible.

Before getting to my experience with Ecodevelopment, there is one thing to bear in mind. A lawyer cannot impartially represent you, the buyer, if one of his major clients is the seller. In fact, as I see it, there is a clear conflict of interest in such a situation.

Back to the post:

"I came across this forum by accident and thought that it might benefit some people if I posted here to provide my slant on the Trujillo eco development.

I was really high on the project and had advanced fairly far into the purchase process, to the point that I had reserved a lot, put down a deposit and actually bought plane tickets for me and my wife to look things over before purchasing.

Before making the trip, I came across references to the Garifuna indigenous population fighting to protect their land rights, references to illegal real estate purchases and, a challenge to the validity of the legislation creating the charter city in Trujillo.

Examples of articles and posts can be found below (but there are many others)

intercontinentalcry.org/honduras-garifuna-communities-take-legal-action-against-canadas-porn-king/

alethonews.wordpress.com/2012/09/19/vallecito-resists-satuye-lives-the-garifuna-resistance-to-honduras-charter-cities/

rightsaction.org/articles/Garifuna_repression_021711.html

In a most recent development (October, 2012) the Honduras supreme court ruled that the Legislation creating the charter cities was not only illegal, but unconstitutional. See below

hondurasculturepolitics.blogspot.ca/

What I have also seen is that international rights groups are supporting the Garifuna in their fight. In Canada, we've seen what the impact can be of native land claims.

I was disappointed to do so because I wanted to retire to the ecodevelopment, but decided to pull out and not go further. I didn't want to live in fear that the doorbell would ring one day and that someone from the Garifuna would tell me that I had to get off their land or, pay an exorbitant sum to be able to stay.

I don't suggest that Honduras is not a good place to invest, just that Trujillo and the Ecodevelopment should be looked at very very carefully.

I haven't seen anything of this type of reported conflict concerning La Ceiba.

Hope this helps some who might be looking at an investment in Honduras."

1 member reacted to this post

honduraschris Serial expat

421POSTS

13 years ago

#112

I agree with you 99% of what you have stated. One small/large item is lawyer representing. You can legally have one attorney represent both parties. But.. Is it in the best interest of You ?!? In lots of my dealings in La Ceiba all is well this way. But when there is a misrepresentation or something along those lines... What do you do or They do ?!? They are the bread and butter of the circle. This is past the point of did I make a good choice with this foreign developer or not. I am not stating anyone is wrong but stating reality. There's a choice and what Adam100 has done has been wise. Don't feel bad you made a good or bad choice/decision. Just be smart of what you have done.

Atlantica Guest

0POSTS

13 years ago

#113

I know that there is nothing illegal in such an arrangement, but in any sizable transaction you want the lawyer to represent you and look out for your interests.

There is no way a lawyer who handles all of Eco's affairs and receives substantial revenue from that source is going to protect your interests over Eco's.

honduraschris Serial expat

421POSTS

13 years ago

#114

Well... I think that is obvious.
Lets get back to a little more of what is reality in purchasing a foreign property.
An attorney can legally represent both parties. Fact. Wize choice ?!? Can be. But... When a large investment company from another country such as or maybe like from what your stating聽 from Canada makes statements that are or can be easily unfouded... You have a legitimate beef.
Look... When a company has paid +\- $25K聽 for ads or commission that is pure business. BUT, when they keep promising the same "90% sold out" for 4 years... Come on!
Excuses are like "$&@%*+# like my wise father taught me in the 90's.
I've done house deals on a paper napkin. Done $200K deals on a聽 email.

Never NOT due your part in research when the Internet is as close as your fingers. Have questions ? You can contact me anytime.

AllysonMontagna Member

13POSTS

13 years ago

#115

I was very cautious before purchasing in Trujillo Beach, ....i did my research and their lots are covered by title insurance and I was very happy with the whole legal process. I never had any problems and I purchased several lots a few years ago

I see the comments about Garifuna's and there land rights and the potential to just "take land".

My due diligence showed they never owned this land originally so how can they take what was never theirs?聽

I am sure this is the case with most of the developments in the area.聽 It sounds like the fear of their community losing their land override's the reality that it is a pretty strong legal system for purchasing properly

tamadrum Active member

32POSTS

13 years ago

#116

Hi....I wasn't offered any title insurance for my properties by Recap in TBED can you let me know who the insurance company is? I would feel better if I had this insurance. Thanks....

Atlantica Guest

0POSTS

13 years ago

#117

Title insurance is an interesting issue. I contacted a few independent Title insurance companies active in Central America and did not find one that would issue title insurance policies in Honduras.

I was also told by the company that it had title insurance (they didn't specifically state, however, that this coverage would extend down to me as the new owner - a very important point - but by that time I had decided to move on and didn't follow up.

Anyone relying on such a statement by Recap should not only find out which company is providing the coverage and how solid they are, but also request a copy of the policy to check who and what is covered.

Normally, any type of insurance coverage protects the holder of the policy - the one paying the premium. Also, a close examination of exclusions from coverage is critical.

I'm not claiming that the lots aren't covered, just that as a buyer about to lay out a few thousand dollars, you should satisfy yourselves that you are indeed covered.

honduraschris Serial expat

421POSTS

13 years ago

#118

First American title was issuing insurance on the mainland a while back. What I found through my personal experiences is it takes way to long to get the policy. I personally waited 9 months. I ended up not even calling them back. Why ?!? It ended up that my attorney in La Ceiba was the one working for the company to receive the requirements/ docs to reinsure the property had zero issues. My attorney does this for me and my clients anyways.

anic Member

1POSTS

13 years ago

#119

Bonjour!

Je suis du Quebec et je suis sur le point d'acheter une villa d'investissement 脿 Trujillo avec Recap. J'ai lu vos discussions, et 莽a me fait peur... Dois-je revenir sur ma d茅cision et acheter 脿 La Ceiba?

Merci!

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Comprehensive and free

Read it now

Harmonie ViP

19273POSTS

13 years ago

#120

Hello anic and welcome to 大咖福利影院!

Could you please post in English in this Anglophone forum?
Thanks.

Here is the Francophone forum, if you've got questions, do not hesitate to ask.

Harmonie.

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