Roatan Sotheby's Real Estate
Sotheby's brand History
Sotheby's proper was founded in 1976 to provide brokerages with a strong marketing and referral program for pristine real estate listings. The subsequent Sotheby's International Network was designed to connect independent real estate companies with the most affluent and prestigious clientele on the planet. Sotheby's International Realty Affiliates LLC is a subsidiary of Realty Holdings Corp. (NYSE: RLGY). In 2004 Realty Holdings entered into a long-term partnership with Sotheby's the auction house, The Sotheby's auction house was established much earlier, in 1744. Sotheby's real estate "Affiliations" are granted only to brokers and individuals who meet certain strict qualifications.
Sotheby's Bay Islands
Roatan Island makes for a great place for a second home. Not only has Roatan, Guanaja, and Utila all come a long way in their internal infrastructure and service offerings, but now, the real estate market is mature and worthy of consideration. Roatan is an attractive second home market to be sure. For many, it's even a strong contender for a first home as clients seek to trade in their primary homes in the US in exchange for a permanent residence in paradise. Roatan offers a preeminent level of privacy.
Sotheby's services cover the entire Bay Islands. Roatan Sotheby's is only the start. But Guanaja Sotheby's and Utila Sotheby's are also new expansions the global brand. Roatan Sotheby's International Realty serves the premier real estate market in Roatan and surrounding areas. The market share expansion is lead by Matt Camron and operations manager Micheline Dupont.
Sotheby's Service Offerings
Roatan Sotheby’s International Realty offers a worry-free luxury buying experience to clients looking for something different, exotic and undiscovered. Admittedly, the island of Roatan is pristine and luxurious on its own. But over the last decade, real estate development has also grown and matured. Today, more than ever before, our customers have a full portfolio of a variety of luxurious real estate properties to choose from. Some properties are magnificent and rustic. Other properties are modern in their decor. Sotheby's goal is to ensure clients are comfortable with the entire shopping experience.
Admittedly, Sotheby's has been adding new Caribbean affiliates in the region over the past few years. Some of the new outposts include the Grenadines and St. Vincent. There is also an expanded footprint in the Dominican Republic.
True to form, Sotheby's has surrounded itself with professional realtors who create lasting relationships with clients from all over the world. And when a need arises for a home in Roatan, Sotheby's will not be able to meet the needs of if its ever grown clientele.
Sotheby's has long held the reputation of trading some of the worlds most sought-after properties around the world. And now, true to form, Sotheby's has targeted Roatan's best. With a portfolio of only the finest real estate properties on Roatan island, Sotheby's can deliver a dream home on command to even the most particular buyer.
With the rich heritage associated with the auction house, Sotheby's International Realty is truly a global and luxurious real estate network which represents exceptional clients from around the globe. Sotheby's has brokers in well over 63 countries around the world. For those interested in selling their estate or luxury home, Sotheby's experienced associates are well trained and equipped with the marketing tools needed to ensure your property is presented well to the market.
It is a relatively straightforward process for any foreigner to purchase property in Honduras. A non-Honduran citizen can purchase up to .74 acres (3,000 sqm) or less for residential use. For larger properties, an individual can set up a corporation, which can then purchase any size property the individual would like. Setting up a corporation is simple, and Roatan SIR has an attorney on staff to help guide our buyers through the process. The cost of setting up a corporation ranges between $1,000-$1,500, and the corporation will entitle you to the same rights and protections that Honduran citizens have concerning their properties.
Once the right property is found, the buyer will enter into a simple purchase agreement that defines the purchase price and timeline for closing. If the seller accepts, the buyer then makes a deposit (10% is most common with a 30-45 closing period). Buyers receive a “Title” registered with the National Government within about four months of closing, with copies of the closing documents generated immediately. Closing documents in Honduras are generated by a Honduran Notary. This is usually at the buyer’s expense, while the seller pays the real estate commission, fees, and a 4% capital gains tax. Closing fees and expenses are approximately 4.5% of the sales price, plus the cost of the corporation, if necessary.
Typically, Roatan real estate sales are transacted in cash or are seller-financed. This is because expats, without residency, are not permitted to finance through Honduran banks. Even expats who are residents find that financing comes at a very high-interest rate.
Recently, however, financing through some American mortgage companies is now available, as well as the ability to utilize your IRA or 401K funds for Roatan real estate purchases.
After Purchase one of Roatan’s best assets is the high quality of life it provides at an affordable price. Even after your home purchase, we can help you navigate the smaller necessities, such as setting up your internet, finding a suitable local bank, getting a local phone number, and the steps to obtaining your Honduran residency. Once you become a part of the Roatan SIR family, we are always here to help!