A common question I receive is in regards to seller closing costs in Roatan. It can be hard to navigate a foreign system and bureaucracy, so I thought it might help to pull together all of the Roatan real estate seller closing costs here.
If you’re considering selling your Roatan real estate, take a look through this list to be sure you’re prepared.
You can also check out my thoughts on why I’m the best realtor for selling your Roatan real estate.
And never hesitate to reach out and ask me questions directly – I’m always happy to help!
Roatan Real Estate Seller Closing Costs
The following is an outline of what you can expect to pay when selling your Roatan real estate:
Real Estate commission: The standard commission amongst all Roatan real estate companies in the Roatan Realtors Association is 10%.
Capital Gains Taxes: If your property has proven any gain, taxes are set at 4%.
Survey: A survey of your property will usually cost between $250 and $300.
Catastral: Catastral is the deeded value according to the municipal government. You will pay usually between $60 and $80.
RTN (Registro Tributario Nacional): Your RTN is your personal tax ID number in Honduras. If a new RTN card is needed, that price is between $100 and $200 to obtain it.
Attorney Fees: The attorney who calculates the capital gains will charge between $200 and $250.
Wire Fees: Outgoing wire fees are usually $45 per transfer.
POA (Power of Attorney): If you cannot attend your closing and instead use your Power of Attorney to process all closing documents, this usually costs $250.
HOA (Home Owners Association): All current year fees must be accounted for, with costs prorated between the buyer and seller. These will obviously vary based on your home location and annual fees.
Other Considerations for Selling Roatan Real Estate
When selling your real estate, it’s not only the numbers that matter. Especially when looking at foreign-owned property, there are many other considerations to take into account.
For example, if you’re leaving the island and moving out of the country, you’ll need to consider the timing of selling your property and moving on. While you can provide Power of Attorney if you can’t attend the closing, that’s something you need to consider in your total selling costs.
If you do choose to attend after leaving, add in the expenses associated with travel to the island, accommodations, food, etc, all while you’re here.
You could also consider the idea of renting your property as a vacation rental, if that’s feasible for you. Vacation rental properties are incredibly popular in Roatan and could prove to be a solid investment.
Ask me for further advice; I will be perfectly honest about your specific situation and will try to help guide you in the best direction.