Wednesday, August 30, 2006

In search of the perfect space

Well clearly we are going to need a building, or something like that.

In fact, in order to obtain investor-residency status, we need provide detailed information about the business, including documentation which proves that we either own or lease the necessary space.


But anyway...

So I contacted a realtor in La Ceiba, whose name I found on I explained the entire situation, including the fact that I currently own a multi-family building and am selling it such that I can use the proceeds for a cash purchase in Ceiba. I further explained to her that I was contacting her early since I had no clue how long these processes would take, nor how abundant (or not) the supply of commercial spaces in downtown Ceiba was.

So within a week she send me info on a two-bedroom house for sale at the price of US$90,000. It is neither in downtown nor the Zona Viva, (my preferred areas) but I suppose it's convenient enough to both - a handful of blocks down from the parque central, near the stadium.

Well. Let me just begin by saying that I am shocked to see this kind of price tag on a measly 2br house (in need of work) which is located in a THIRD WORLD COUNTRY for fuck's sake. I mean, I have seen houses on the bay island of Utila in that same price range, and that's just weird.

Anyway, I asked the realtor a few questions about the seller's timetable on closing, and if she got the sense that they would be flexible on the price, and soforth. She responded that they want to close quickly, and that's why the property is "so cheap." She further stated that if I am not ready to buy, I can just let her know when I am and she'll start searching.


I totally already explained to her in the beginning that MY HOUSE HAS NOT SOLD YET, so no, I do not happen to have $100k in the bank at this moment, sorry. Furthermore, I am still waiting to hear details of how this process works in Honduras - like, do I need an attorney, title insurance, to file forms here and there, etcetera etcetera. I can only assume that the person on whom I should depend to explain these things is my realtor. I mean, who else is there, truly?

Anyway, perhaps I will have to wait until I can physically be in Honduras, with wads of cash in hand, before my concerns are addressed and the process can move forward. I had hoped it would be otherwise.... but we shall see.


At 4:38 PM, Blogger La Gringa said...

Hi there. I found your blog. It sounds like the realtor isn't off to a good start. We definitely need to talk!

At 5:16 PM, Blogger Liar_Liar said...

Sounds also like the realtor is looking for fast payday, zero work, and represents the other person, not you.

90k for what i saw is robbery in the states. Maybe even in the peoples republic of california.

At 5:39 PM, Blogger Bound for Ceiba said...

Well I dunno about California... hahaha... but yes, I'm guessing that something cheaper can be found.

And welcome to La Gringa! Yes-yes-yes, I would love any and all advice you have to offer!

At 1:14 PM, Blogger rudygiron said...

You will be surprise how expensive real estate has become in Central America. I believe it is all those crazy gringos and gringas bound for CA and paying outrageous prices for houses and buildings that is driving the cost of living to skies. ;-) I even wrote about it little here:

Just be patient and talk to the expats living down there to get a feel for prices of real estate. Most importantly, shop around.


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