For the love of real estate, KW Roatan brings you listing updates and information that you will need to know when buying or selling property (with a little bit of island life thrown into the mix). This month we celebrate the philanthropic culture of Keller Williams, unravel some of the confusion of closing documentation, and sneak a peak into the purpose and benefits of realtor open houses.

KW ROATAN ALWAYS READY TO GIVE WHERE WE LIVE!

Since May of 2009, the entire Keller Williams family worldwide steps away from daily business duties and proudly sets aside the second Thursday of the month of May to venture into the communities we serve with three goals in mind: Renew, Energize, and Donate.

KW International RED Day is philanthropy day! At the very heart of Keller Williams’ culture is a shared commitment to community service: its mission is to be “more than just a real estate company”.

On May 11^th, KW Roatan devoted their efforts to ensuring that the 22 children from the local orphanage, Sandy Bay Lighthouse Ministries, had a day to remember.

Off to Pristine Bay, for a pool, pizza, presents, piňata, prizes, and play day, yay day! They even got a participative educational talk on nutrition and a pool exercise class by Fitness Instructor, Paola Carbajal.

Gifts galore, a fun and frolics frenzy, and many memory-making moments were the order of the day. The excitement and awe on the children’s faces were wondrous indeed.

Although Keller Williams Roatan supports this worthy cause throughout the year, the RED Day event gave the children a special day to enjoy, it enabled others to offer support and created awareness of the orphanage. Agents from other brokerages bought gifts and attended the event - community is where the heart is and, sometimes, it takes a village.

The event was covered by Roatan Today, a local news broadcasting company, further amplifying the impact and reach of the initiative.

We would like to express our heartfelt gratitude to every individual and business involved in making this day a spectacular success. We thank, from the bottom of our hearts, the 19 companies that generously donated to this day. The children will cherish the memories created on this special day, and their gratitude knows no bounds.

Together, we can and do make a positive difference in the lives of these children and will continue to give them a brighter future filled with hope and opportunities.

EYE SPY WITH MY LEGAL EYE

CLOSING DOCUMENTATION

Closing on a property is an exciting milestone, but it can also be a complex process.

KW Roatan’s Partner and Attorney at Law, Hilsy Villalobos gives us some insight into the documentation required for closing on a property.

If you are the buyer or the seller, it may feel overwhelming when various paperwork is requested or referred to. Don’t fret, KW Roatan understands the importance of a well-executed closing and strives to streamline the process for our clients. Our team of experienced professionals is ready to assist you with all aspects of real estate transactions from documentation to legal compliance, ensuring a seamless and efficient closing experience.

The sales contract serves as the foundation of the transaction, outlining the terms and conditions agreed upon by the buyer and seller. It includes important details such as the property description, purchase price, payment terms and timings, and any contingencies or special conditions.

Valid identification documents are a requirement showing proof of identity and legal capacity to engage in the transaction.

If either the buyer or the seller will be unable to attend the closing, a Power of Attorney (POA) may be required. The process of obtaining one for a foreign investor can take time so it is best to begin the process immediately.

If you are the seller and your property was listed with KW, then many of the important documents will have been collated and checked prior to even marketing your property. Though this can add some time to the listing process, it can expedite the closing process significantly.

The paperwork will include the registered deed/title (escritura de compraventa), which is the official document that shows legal ownership of the property. It will be checked to ensure that it has a clear title and that there are no liens, encumbrances or issues needing to be resolved prior to transfer of ownership. The transfer from the seller to the buyer must be drafted by a public notary and signed by both parties. It is then registered with the public registry to provide public notice of the change in ownership.

If the property is held in a corporation (a legally recognized business entity, kind of like an LLC), copies of the endorsed original shares will be required at closing.

The lot survey and cadastral survey (a municipal clearance certificate confirming that the property’s taxes are up to date and demonstrates compliance with tax obligations) will need to be dated within a year of the closing date – the in-house team at KW will ensure that these are redone and issued in time to close and within the timeline specified in the sales contract. We will also property taxes are up-to-date, and prorate the amount for the current year between the buyer and seller.

If your property has proven any gain, taxes are set at 4%. If you have not registered improvements i.e. you built a home on the lot originally purchased, you will need to get them registered before closing. These improvements can be used to reduce the amount of capital gains tax paid.  An appraisal will be needed and payment for registry fees.

All utilities, such as water and electric, and, if applicable, Home Owners Association dues, for the current year, will need to be prorated between the buyer and the seller.

RTN cards (Registro Tributario Nacional), a tax clearance certificate, will be required for all parties including the corporation, if applicable.

Most of the documentation collation and due diligence is done behind the scenes by the KW in-house team.  Once the due diligence process is complete, and all contingencies have been satisfied, the closing process can proceed.

If you have any questions or need further assistance regarding real estate closing documentation in Honduras, reach out to our dedicated team. We are here to support you throughout the journey!

BENEFITS OF AN OPEN HOUSE

Ana Flores, Owner/Broker of KW Roatan, is known for hosting the best dang open houses for realtors. But why put so much effort into them?

Because realtor-only open houses can be a very useful marketing strategy for promoting their properties and connecting with other industry professionals. This type of event provides exclusive exposure of the property among other real estate agents, whilst also creating opportunities for networking, market research, and gaining a competitive edge in the market.

Exposure, exposure, exposure!

Inviting other agents to get an up-close-and-personal property tour enables the listing agent to showcase its features, share more detailed information, and generate interest. This can lead to the property being at the forefront of realtors’ minds when working with their current and future clients.

A huge advantage is the opportunity for market research. Interacting with other agents and observing their reactions can be hugely beneficial. It is also the time to gather feedback on how well the property shows, what is the first impression of the interior, exterior and general condition, is the pricing right, and what could be done to improve the impact of the property at showings. This feedback can assist a conversation with the seller whether it be about the price, decluttering the interior, or any maintenance work that may be required. This information can be used to make informed decisions when listing and marketing the home.

Additionally, hosting a realtor-only open house offers an excellent opportunity for networking with other industry professionals. Agents can connect with other agents, which can lead to future partnerships and collaborations.

Ana, every 4 to 6 weeks a new property, puts considerable effort into organizing and conducting her open houses. An abundance of food, drink, live music, wait staff, and the KW Team are present so that a lasting good impression is formed by all those attending.

So, there’s a myriad of professional reasons why to conduct open houses: and aside from that, fun times are always had by all!

TAEKWONDO IS THE WAY TO GO

Taekwondo, a Korean martial art, is a big deal on Roatan so much so that the Island Tigers Taekwondo School, founded and owned by Michelle Barrios Van Tuyl - black belt II Dan - organized and hosted the annual contest at Big French Cay. It was also the school’s 15^th Anniversary so the pressure was on to perform and to show what the school has perfected over the years – explosive kicks, quick punches, and dynamic movements were the order of the day. The day gave the competitors – kids, teens, and adults - a chance to showcase the discipline, precision, and agility that they have developed.

There were 110 competitors – 60 of whom were from The Tigers and the others were from several teams from the mainland - divided into size and weight, white to black belt categories to make the competition fair. The winner of each match was decided by the number of points scored or by a knockout.

A range of Kyorugi (combat) techniques were displayed, including flying and spinning kicks, and used to outmaneuver their opponents whilst the judges observed awarding points for successful strikes or penalizing athletes for illegal moves or rule violations.

In addition to the sparring matches, poomsae (forms) were featured. The participants performed choreographed patterns of movements to demonstrate their skill and mastery of the art.

While the Island Tigers excelled in terms of competition placement, every competitor received a well-deserved medal, acknowledging their dedication and effort. Even the coaches were given special recognition for their dedication and commitment to the sport.

The contest was not just all about winning. After the final bow of the competition, the sponsors, participants, and supporters partied to the sounds of Zumba and played games.

This was an exciting event, in the perfect location that showcased the best of the sport. It bought athletes from around the country who displayed their skills, discipline, and focus in the spirit of friendly competition. If you fancy giving it a go yourself, Island Tigers is located in Jackson Plaza, 2nd Floor in French Harbour Road.  Newcomers are welcomed with open arms.

OPEN HOUSE

US$3.5M

This beautiful bluff 23-bedroom waterfront operational dive resort embraces the tropical trade winds and overlooks the dramatic Ironshore coastline. This oasis is tucked away just enough to feel secluded but also conveniently located within walking distance of West End and all its amenities: shops, restaurants, nightlife, and of course the beach. The fully licensed operation is being sold, turnkey.

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LISTINGS

$650K

Looking for an outstanding investment opportunity? Look no further than this remarkable four-plex apartment building located in a highly desirable area. This property is a perfect blend of convenience, comfort, and style that you won't want to miss. The building sits on 0.344 acres of land and features four fully furnished 2-bedroom, 2-bathroom apartments, each of approximately 900 square feet.

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$300K

Looking for an outstanding investment opportunity? Look no further than this remarkable four-plex apartment building located in a highly desirable area. This property is a perfect blend of convenience, comfort, and style that you won't want to miss. The building sits on 0.344 acres of land and features four fully furnished 2-bedroom, 2-bathroom apartments, each of approximately 900 square feet.

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$338,888

This is an investor's dream property. Great road front location coming into the west end. A 5-minute walk to the beach at Half Moon Bay. There are two apartments in the main building and a little treehouse casita on the back of the property. This 0.35-acre property has walkways and gardens and can be a beautiful backyard haven with a little work, or you can possibly build another casita or two for added income. Huge potential!

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$90K

Welcome to the perfect opportunity to build your dream island home in a small, friendly community! This 0.25 acre lot is conveniently located and boasts breathtaking views across the bay. The flat lot is a blank canvas waiting for you to unleash your creativity. The community is a hidden gem, offering a peaceful and tranquil atmosphere away from the hustle and bustle of the tourist areas.

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$225K

Great opportunity to grow and generate income from the rental and to develop. This building currently has a commercial space on the 1st floor (Mini market) and on the 2nd floor 2-2bathroom / 1 bath apartment On 0.136 Acre.

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UNDER CONTRACT

$499K

Located in Lost Isles Estates in Calabash Bight is a solidly built 2-bedroom home plus loft on 0.697 acres with 170' of beach frontage. ''Beach Chic'' come to mind when viewing the home. It is light and bright and features 2 bedrooms, two baths, and a sleeping loft for kids.

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US$159,900

Experience luxury condominium living with this one bedroom, one bathroom unit that gracefully combines your dining, living room and kitchen all facing a beautiful beach view. Neutral accented interior with granite countertops to compliment the pristine property finished with warm mahogany cabinets and stainless-steel appliances.

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US$349K

Mesmerizing ocean and lush green garden views. This hilltop home is located in the heart of Sandy Bay with only a 10-15min drive to the airport, local grocery and convenience stores, restaurants, night life, West End beach, and a few minutes away from the pristine waters of West Bay beach.

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US$625K

This stunning 3 bedroom, 5 bathroom villa features its very own rooftop Jacuzzi with outdoor BBQ area, covered seating as well as sundeck area and enclosed bathroom. Ocean One offers a generous rental program. 

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US$75K

One of two desirable condos that offer high long-term rental potential but are spacious enough for a permanent residence at a price that will be hard to resist! This brand-new, cozy, wood construction two-bedroom, one-bathroom unit is situated on the main level of the building and is one of four in this small community in the midst of French Cay.

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US$65K

Totally affordable apartment with good quality finish – now that sounds attractive! A desirable condo that offers high long-term rental potential but is spacious enough for a permanent residence at a price that will be hard to resist!

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SOLD

US$290K

Las Palmas Villa 0110 boasts spacious interior and exterior living spaces, ideal for an island permanent home or your vacation getaway. The 3-story Mediterranean-style Villa floor plan includes 3 BR each with their own en-suite BA and an additional half BA, living area, kitchen area, laundry room, first and second floor terraces as well as a complete rooftop terrace perfect for entertainment.

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US$150K

This newly completed wooden home is located in the bijou development of Picacho Hills, Diamond Rock, which is just a mile from the stunning, white sand beach of Camp Bay. This 2-bedroom, 2-bathroom home, sat on half acre has million-dollar, panoramic views of the azure Caribbean Sea and verdant hillsides. It's open plan living/dining/kitchen flows out to the expansive deck so lends itself to entertaining. Finished with Honduran hardwood floors and cabinetry and included is a gas stove and brand-new fridge. Value for money at this price and perfect for an island ''get-away from it all' investment.

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$168K

Casa Castaway really pulls you away into its great cool, shady location a 15-minute walk to the beach or a few minutes drive. This top-level unit has 1300 sq ft with vaulted ceilings, tiled floors throughout the home, a gourmet kitchen, A/C splits in every room, two great patios with a BBQ area, and a generous backyard. As you walk through, you can see it was lovingly maintained. Enjoy the tranquility of Casa Castaway just moments from West Bay beach and the many restaurants.

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