Educational Seminars

June 21st, 2008 admin Posted in Antigua Guatemala, Real Estate | No Comments »

Join Casa Nova every Tuesday and Saturday afternoon starting July 15th 2008. Our seminars begin at
4.00 PM on Tuesday, and 2:00 pm on Saturday.
Per registration would be appreciated, and this can be done by contacting our office by telephone at 7832-8729/30 or 31 (Local Guatemala number) or on our US direct toll free number at 866-248-0675.
You may also email us at info@century21casanova.com
The seminars will take place at our office, which is located at 3rd Calle Oriente # 29. The office is about 20 meters west of the main entrance to the Santo Domingo Hotel, on the opposite side of the street.
Space is limited to 12 people on a first come basis.
The seminar will cover a broad range of topics that will take first time and previous property buyers through a step by step process in evaluating property, and the legalities involved in purchasing a home in the Antigua area.
Please bring writing material for note taking.

Bookmark and Share

Top 14 reasons to list your property with Casa Nova

April 9th, 2008 bfwilson Posted in Antigua Guatemala, Real Estate | No Comments »

Top 14 reasons to list your property with
CASA NOVA REAL ESTATE

It would be reasonable to assume that anyone who is offering their property for sale is looking for the company that will offer the best service, and the fastest results. The following reasons will convince you that your decision to list your property with Casa Nova is to your best advantage.

  1. Casa Nova S.A. has been established in Antigua Guatemala for 16 years, and its name is the most widely recognized of all real estate companies in Antigua
  2. Casa Nova S.A. sells more property than all other competitors combined.
  3. Casa Nova S.A. is dedicated to providing the best possible service to all of their clients
    7 days a week, 12 hours a day.
  4. Casa Nova’s marketing team has a combined total of over 50 years experience in marketing all types of property in the Antigua area.
  5. Casa Nova’s sales team is fully bilingual, and therefore they are capable of servicing foreign customers and well as local clientele.
  6. Casa Nova S.A. has a data base of qualified purchasers looking to immediately purchase reasonably priced property in and around Antigua.
  7. Casa Nova S.A. has the most comprehensive web site of real estate listings in Antigua, and all listings are represented on our web site for maximum exposure. (http://www.century21casanova.com aka http://www.casanova.com.gt).
  8. Casa Nova S.A. advertises available properties for sale in major Real Estate publications with the widest distribution in Guatemala, and also publishes its own magazine for local distribution.
  9. Casa Nova S.A. offers free property evaluation prior to a commitment to list your property.
  10. Casa Nova S.A. works for the seller to assure that the best possible price is obtained for your property.
  11. Casa Nova S.A. keeps all sellers informed as to any activity that our listed properties receive immediately. You’re never left wondering if the property is receiving proper attention by our sales team.
  12. Casa Nova S.A has formed alliances with other Real Estate companies operating in Canada, the US and Europe, to offer properties to prospective purchasers abroad.
  13. Casa Nova S.A. has an International communication system to receive telephone calls directly into our office at no cost to potential customers.
  14. Casa Nova S.A. is a member in good standing with the Guatemala Real Estate Board, and adheres to all of the ethical guidelines of Real Estate business practice dictated by the Board.

We look forward to being of service in the sale of your property, and we can assure you that every effort will be made to market your property in a shortest period of time and with the best results possible.

Bookmark and Share

Driving to Guatemala as a tourist

April 9th, 2008 bfwilson Posted in Uncategorized, Guatemala General | No Comments »

Driving to Guatemala as a tourist, or importing a vehicle.

The Guatemala border can be a hair rising experience if you’re driving and not prepared.
If you read this in detail, you can do it with no problems.
I will assume that you are coming through Mexico to Guatemala.

First of all, buy Mexican car insurance! If you don’t, and you are involved in an accident, your car will be impounded (and more than likely stripped clean in the impound lot), plus you may end up in jail until the case is heard, and you have paid whatever damages the court may apply. If death is involved, that may be a long time.

Sanborns is one of the best know Mexican insurance company operating in the US close to the border. Personally, I find them quite expensive. You can go on the internet and search for “Mexican car insurance” and there are several companies that will issue you a policy over the internet at a much better rate. When you enter Mexico, you will receive a tourist permit that allows you to transit the country at the US border crossing into Mexico.

You will need to produce your title, drivers license, and have a valid credit or debit card to get a permit. The owner of the vehicle must be with the vehicle. If you have a title that has not yet been transferred into your name, you will need the title signed off by the previous owner, and a “realistic” bill of sale. Please don’t provide a bar napkin saying you bought it from “Bill Smith”, as that won’t do it!

Also, get a photo copy of the title, drivers license, and your passport as you will need it later. Be sure to get Mexican pesos at the border area, as the gas stations in Mexico don’t accept credit cards, and most places on the trip will be the same.
If it’s the first time entering Mexico, don’t assume that you can just drive to Guatemala without stopping at the Mexican border and getting a permit for your car. If you do, about 20 Km’s from the border heading south, you will be stopped for an additional inspection, and if you have no permit, you will be sent back to the border to get one. That can be very frustrating to say the least.

When getting your permit, you will be asked how long you’re planning to stay in Mexico. It’ a wise idea to say “3 to 4 weeks” and that you’re on holidays. If they want a destination, it’s best to tell them somewhere in Mexico, such as Cancun or Puerto Escondido etc. The reason is, that they have the right (not often enforced) to make you wait and become part of a convoy that is only passing through the country. This is not a great experience if should happen to you. Be sure to smile and be as polite as possibly to the people at the border. If you’re in a bitchy mood, they can make you life miserable. Once this is all done, you’re on your way!

For safety and speed, I suggest crossing into Mexico in the Brownsville Texas area. The drive is better, the scenery is decent, and you bypass Mexico City. Try to map out you trip on the east coast to arrive at Juchitan, and then cross to the west coast from Juchitan that will bring you out close to Salina Cruz. Head south to Tapachula, and you’re at the Guatemala border. About 20 Klm’s from Tapachula, you will find a big green building on you left. There is a sign saying “Viva Mexico”, and it is an inspection station for vehicles heading north into Mexico. Stop at the side of the road, and take your permit papers into the building, and they will stamp you car out of the country at that point. They will give you a copy of the canceled permit, and you will need to keep that copy with you should you be returning through Mexico at a later date. Keep it in a safe place.

Now, your almost there! Keep driving toward Tapachula, and there will be ample signs directing you to the border.
Once you arrive at the border, stop your car on the Mexican side and go into the immigration office and present your passport. They will stamp you out of the country at that point. When you entered Mexico and received your car permit, you will also have received a tourist permit.

You will be required to pay a fee for the tourist permit before exiting Mexico. Any bank will accept the payment, which is around $25.00 per person. There are NO banks at the border in Mexico/Guatemala, so your last chance is in Tapachula. The border at the US/Mexico should accept the payment the moment the tourist permit is issued. I would strongly advise that if that service is available, do it at the US/Mexico border.

At the Mexican border, be prepared to be deluged by a lot of people trying to get you to exchange your money, and offering to “help” you get your car permit in Guatemala. Politely tell them to leave you alone. You don’t need them, and you will get ripped off big time. It is a good idea to get some Guatemala Quetzales from the money traders on the Mexican side, and I suggest about $50.00 to $75.00 is more than sufficient.

Once your stamped out of Mexico, there is a small bridge that you cross to enter Guatemala. There is a Q5.00 fee for the bridge (about 0.65 US). Once you pass the bridge, the immigration office is on your left. Stop you car on the right side of the road, and take your passport to the immigration window and have it stamped in. The normal stamp allows you 90 days in the country. There is NO fee for the stamp in, but there is a Q10.00 fee when you leave. If you look totally confused at the immigration window, they may try to extort the fee on entering. If there are passengers in the car, only one person has to go to the window with all of the passports. There is a form that needs to be completed at the window, so have a pen with you.
Now that that is done, you proceed forward, and there will be 3 or 4 orange pylons . Stop by the pylons for the fumigation game. That is a joke, but it costs around Q16.00 for a normal car.
Once fumigated, you continue about 20 yards, and your now under a covered roof structure with a ton of people milling around. The first person you will encounter is the “wash your windshield guy”. Unless you don’t mind your car getting scratched up and a dirtier windshield that you began with, politely tell him “no gracias” but be firm about it!
The building on your left has an entrance that is quite obvious. That is where you enter.

As you have previously made photo copies of your title, license and passport, you’re going to need two more. That will be the page of your passport that you just had stamped at the Guatemala immigration booth. They will also ask you for the copy of the Mexican tourist car permit that was stamped out at the “Viva Mexico” station. When you entered the building, just pass through to the other side, and you will see some buildings. They have photo copy service there. A copy is around 0.50 Quetzales each. Once you have these copies, plus the ones you had already, you can proceed to get you car permit.
When you entered the building from where you parked you car, there are 3 or 4 windows that look like a bank teller window. Go to the first window as you entered, and present all of your original documents, and the photo copies. You really don’t need to say anything, as the person on duty will know what you want. He will ask you where the car is. You can simply point at it.

This window can be quite busy, and people will try to push in front if you let them. Stand your ground and act like an NFL line blocker. Within 10 to 20 minutes, the clerk will give you a few papers to sign. One paper will be a form you need to take to the bank to pay the fees, which is around Q42.00 (about $5.50 US). To get to the bank, go out the door you entered through, turn left and about 15 yards from the door is the bank window. Pass the teller the paper with the money, and she will stamp it and receipt it, and hand it back to you.

Now, go back to the window you came from, and hand the clerk the receipt. He/she will pass the papers through a window to a person outside sitting at a desk. He will record the details in a big book, and give you your original papers back. Someone will go to the car with you and apply the tourist sticker to the inside of your windshield.

The document you receive from the clerk you must keep with you at all times while driving. Please read the document, and pay attention to the date that you are required to leave the country. It should be 42 days from the time you entered. If you you’re planning to stay longer, you must return to the Mexican border within the 42 days, and re enter the country again going through the same process.

According to the law, you have to leave the country for 72 hours before you can re enter. I have never seen this applied, but it is advisable to go to Tapachula for a day and return the next. They will generally not let you do a quick turn around, but sometimes they might. It is generally immigration that won’t allow you to stamp out and immediately stamp in again. Without the stamp in, you can’t do anything.

Remember, you will need to do the photo copies again, cross the bridge, get fumigated and deal with the “window washer guy” all over again.

As far as insurance is concerned, you are at risk as you would have been in Mexico if you’re not covered. There are NO insurance agencies at the border in Guatemala. If you need insurance, I suggest you let us know, and we can get you covered before you enter Guatemala. It will only be 3rd party insurance, as you will need to have your car registered in Guatemala to get full coverage.

If you are planning to import the car into Guatemala, just bring it in on a tourist permit, and don’t discuss importing at the border. It can be done in Guatemala City a lot easier. You will need a bill of sale if you just purchased the vehicle, and it shouldn’t be something really stupid like a 2004 BMW with a bill of sale for $5000.00 US. They will only accept bills of sale from auto auctions, or from a registered car dealer.

If you have owned the car for some time, then they will appraise it by the Blue Book, and you are subject to a 32% import tax. That can be costly.

Generally, you can hire a person for around Q200.00 to do the paper work for you if you want to import. These people can negotiate with Customs on the tax you would need to pay, and get you a better deal. Don’t try to do it yourself, as you will be totally out of your field, and it could take you days to do rather than a few hours. It’s a well spent Q200.00.

If you’re coming to Guatemala to retire, or stay for an extended period of time, I would highly recommend that you sell your vehicle and purchase a vehicle when you arrive. In the long run, it works out to be a lot less expensive than importing.
I hope this helps anyone who has taken the time to read it, and feel free to contact me, by leaving a comment in this article, if you need further clarification.

Best of luck on your travels to Guatemala
Brian Wilson
Casa Nova Real Estate

Antigua, Guatemala
US toll free 866-428-0675

Bookmark and Share

How do I become a Guatemalan resident?

April 9th, 2008 bfwilson Posted in Uncategorized, Antigua Guatemala | No Comments »

Many people have ask exactly what the process is to become a resident in Guatemala.
Thanks to a long time resident, this is the process from start to finish.

  1. The first thing is to visit the Migration office at
    4th Calle 4-37, Zone 9, Guatemala City, and obtain a
    “Solicitud de Visa Residente Permanent”.
    To gain this residency, you need to find a guarantor
    who is a Guatemalan citizen/or company who pays income
    tax to SAT (like the IRS in the US), has a bank
    account, is employed/or an active income prodcing
    company, and shows a reported income of at least
    Q15,000.00 a month.
    This residency will allow you become actively employed
    in Guatemala, should that be your choice.
    Now, this applies to people who are not in the retired
    status, and are not receiving income from other
    sources such as a guaranteed income from a certified
    pension plan or Social Security and the like.
    If you are receiving a pension, the minimum income
    required is currently $1200.00 per month.
    In this area, you can become a “Rentista”. That means
    you will not be actively employed, but simple retired.
  2. Documents Required to be handed in with Solicitud (application):
    • For Guarantor:
      • Signed legal document taking full economic responsibility for person seeking Permanent Residency.
      • Copy of guarantor’s Cedula.
      • Copy of Nit Card.
      • SAT forms for previous tax year.
      • Copies of personal bank account statements for previous 2 months showing at least Q.15,000 per month deposits.
    • For Applicant seeking Permanent Residency:
      • Permanent Visa application.
      • Legal declaration affirming information in above application.
      • Copy of Passport, including page with Temporary Residency Stamp.

        - authenticated by Lawyer

      • Police report (Penales Antecedentes) for Guatemala.
      • Police report from your Country of Origin.
      • Certificate confirming previous receipt of Temporary Residency.
  3. Return time & again to inquire about your file and futher requirements.

    Your File will be assigned to an Immigration Officer. Hours are 8:00 – 12:00 noon, Monday to Thursday to inquire about your case.

    No one will contact you!
  4. Receive confirmation of Approval of your Permanent Residency.
  5. An Interview date will be assigned.
    • Need 2 black/white passport photos
    • Q 3,000 to pay Residency Tax
    • Pink copy of Residency approval.
  6. Go to INGUAT (Zona 4) to pay Residency Tax of Q 3,000 and return with

    Receipt to Migracion (Zona 9).

  7. 3 days later return to Migracion to pick up approved form completed at

    Interview. (pink slip)

  8. Apply for CEDULA in Municipalidad where you live.
    Antigua Requirements:
    • 2 witnesses (testigos)
    • Copies of witnesses Cedulas
    • Purchase 2 Boletos de Ornato in Municipal Office.
    • Fee = Q 140
    • 2 authenticated (by lawyer) copies of pink page received after interview.
    • 3 cedula size black/white photos.
  9. Receive Cedula, Hurray !!
  10. Go to INGUAT – 2nd. Floor – Permanent Residency window with:
    • Original Passport
    • Copy of passport plus page with Temporary Residency stamp.
    • Pink page received aftr interview at Migration office.
    • Copy of pink page.
    • Cedula
    • Original certificate received with issue of Cedula.
    • Copy of certificate received with issue of Cedula
  11. Return several days later to pick up your Passport, Cedula and original

    Documents.
    Passport now has your Permanent Residency Stamp!!

  12. Believe it or not, you are done!!
  13. You can now get your Guatemalan Driver’s License, register for voter’s list

    and your bank will want you to update your information.

Bookmark and Share

Financing for foreigners

April 9th, 2008 bfwilson Posted in Real Estate | No Comments »

Mortgage financing for foreigners

Generally, purchasing a home in Guatemala by a foreigner has always been a cash proposition. As more and more foreigners are inquiring if there is a possibility to finance, we have managed to make an arrangement with one of Guatemala’s larger banks to provide funding.

The following requirements will satisfy the lender.

  1. A copy of the buyers bank account for the previous 6 months showing a reasonable cash flow and balance.
  2. A certified copy from an employer to verify
    employment, and the number of years employed.
  3. A financial statement showing current assets and
    liabilities (short and long term)
  4. A copy of a current passport.
  5. A minimum down payment of 30% of the appraised
    value of the home. The buyer is responsible to have
    the appraisal done.
  6. A loan approval will take approx. 8 working days to
    either approve or reject.
  7. The appraisal will not be required until the loan
    has been approved as to the credit worthiness of the
    buyer.
  8. The interest rate is not fixed, and currently (in
    late 2006), the rate is 7.5% in US Dollars. The
    interest rate is pegged to the US Dollar at the time
    of the loan.
  9. The lender will, with the written agreement of the
    buyer, undertake to obtain a credit bureau report from
    the purchaser country of residence.

Basically, there is little difference that obtaining a
loan in your home country.

Casa Nova will act as the go between for the purchaser
if required, to expediate the transaction.

Casa Nova will not charge any fees for this service.

Bookmark and Share

Retiring in Guatemala

April 8th, 2008 bfwilson Posted in Antigua Guatemala | No Comments »

Antigua Guatemala: A retirement paradise for locals and foreigners

If the time has come to consider your retirement options,
we highly recommend Guatemala as a first choice. More
specifically, Antigua, Guatemala!

Of course we have a vested interested in your decision
to move here, as we certainly hope to be your contact
to fulfill your Real Estate needs, so now that we have
made our intentions clear, we feel it’s only fair to tell
you why.

Topics:

The Weather

The first thing that comes to mind is that we have never
seen anyone shoveling a driveway in Guatemala. If perfect
weather is an incentive, Guatemala just can’t be beat.
We don’t want to abuse an old phrase, but whoever coined
the expression, "The Land of Eternal Spring"
hit the nail on the head. The weather is fantastic!

Then we go to one of the most important areas for most
newcomers.

back to topics

The Cost of Living

For an average couple, on a monthly basis, exclusive
of housing, you can expect the following:

Electricity for an average household Q 650.00
Water Q 10.00
Waste removal Q 35.00
Telephone, not including LD calls Q 50.00
Internet connection Q 175.00
Food, not including dining out Q 1600.00
Local transportation Q 120.00
Furnished home of decent quality Q 5600.00
Once a week local entertainment Q 960.00
A few good dinners out Q 1000.00
This will provide you with a
very good life for:
Q10,200.00
Converting to USD (today’s rate) $ 1,342.00

We are told your can rent a closet space in New York
for somewhere around the same price. Welcome to Guatemala!

back to topics

Security

This has always been a major concern for first time visitors
to Guatemala, and rightly so. Now, you can’t compare Antigua
to Guatemala City. The city is a place most people visit
out of necessity, not out of desire. The city does have
it’s attractions as well as it’s ability to provide things
we may need that are not readily available in a small
town like Antigua.

If you visit the city, the daytime is the most secure
time to do so. There are several zones in Guatemala City
that would not be recommended regardless of the time of
day, but it won’t take long to discover which ones to
avoid. On the other hand, Antigua is relatively crime
free. Certainly, it has it’s bouts with petty crime such
as the odd purse snatching and the odd pick pocket, but
generally you can travel the town with no fear for your
personal safety or possessions. The times that create
the most petty crimes are associated with major events
such as Samana Santa, where the crowds swell to a few
hundred thousand people who want to witness the annual
spectacle.

back to topics

Transportation

This can take many forms. Local busses, shuttle service,
trips to the city, flying to the States or any other country.
Take your pick, as it’s all available, and normally, just
around the corner.
A local bus will cost you just over .06 cents.
A bus to the city is only .70 cents.
A private shuttle to the city or the airport is generally
$25.00 US
The international airport in the center of Guatemala City
has several international airlines providing daily direct
or connecting flights to anywhere in the world.

back to topics

Shopping

Granted, Antigua is not a shoppers paradise when it comes
to large department stores, but everything is available
if you know where to go. The central market provides first
class produce all year round, with the major market days
being Thursday and Saturday.

If you need to "Hit the shopping trail", then
a trip to the city is in order. Lot’s of malls and grocery
stores to keep you entertained for hours. Since the opening
of the US Price Smart chain, you can now wander the isles
and find all the things you thought you may miss by being
here. Those of us that just can’t get by without Heinz
ketchup or Vlasic pickles will be in heaven once they
visit Price Smart.

Antigua offers several Boutique style food shops that
generally will handle all of your needs as well.

back to topics

Dining out

Antigua probably has more restaurants per capita than
any other city in the world.

You pick your favorite, anything from Thai to Italian,
and it’s here to enjoy. As with all restaurants in the
world, some are better than others, but it only takes
a couple of questions to be directed to the right places.

Average dinner at a "High Class" restaurant
can run around $16.00 per entrée.
Add a bit of wine and dessert, and your just about on
the $25.00 mark.
Favorite places to eat and enjoy a pleasant evening would
be The Maison Panza Verde for first class dining and atmosphere,
or for a fun night out on the town, you could choose the
Sneaky Petes Pub for a quick game of darts and a cold
pint of draught.

back to topics

Communications

Keeping in touch is a concern that many people express.
Will I have good communication with friends and family
by telephone and Internet?
Antigua has several options to choose from. If you’re
an Internet buff, it’s available in 3 forms. One would
be using the local Internet cafe’s that charge a very
minimal fee for anywhere from a 15 minute connection to
as long as you need. As another option, you can have a
simple dial up connection through you home telephone for
pennies a day. For the more sophisticated user, you can
install high speed "Turbonet" to keep you connected
24/7 for as little as $43.00 a month.
Telephone service is good, with quick connections to anywhere
in the world. Cell phones are as common as "T"
shirts. Simple to acquire, and very inexpensive to use.
Currently, a call to the US or Canada is only .10 cents
per minute by Cell phone.

back to topics

Things to do (passive or active)

Depending on you "activity" level, Antigua
offers several outlets to keep you amused, and also in
shape.
Football, basketball, tennis, swimming, hiking, biking,
mountain climbing, walking or just plain "sitting
in the park and people watching". If your into theater
activities, there are several plays produced locally,
and talent is always in demand. If you’re a card player,
then there are several Bridge groups looking to add new
players. Poker nights can be a lot of fun as well, and
there is never a shortage of players willing to lose (or
win) Q50.00 for a night of entertainment.
There are several events in Antigua annually that can
keep your interests alive as well. There are Jazz festivals,
Ballet productions, Opera, and many more seasonal productions
that are generally set in the historic parts of this great
city.

As they say "Never a dull Moment" if that’s
what your looking for.

back to topics

Health Services

Although there is no major hospital in Antigua other
than the national IGSS hospital located in San Felipe
(2 minutes away), there are several top class clinics
and private doctors to serve you. If something major should
occur, your 45 minutes to Guatemala City, and some of
the finest private hospitals in the world.
Local and international health plans are available at
a fraction of the cost you would pay in most parts of
the world.
Most doctors are US trained and have served their internship
abroad.
If your concerned about dentistry, look no further. Good
examples would be, a root canal for $125.00 and a crown
would be the same cost. A simple filling would cost $25.00.
An annual check up and cleaning is under $50.00 (X-rays
included)
Ambulance service is available 24 hours a day, should
the need arise.
For those of you that are considering a little “Facial”
makeover, $3000.00 will turn you into a new person.

back to topics

Taxes

We all know that nasty word, don’t we.
As far a personal income taxes are concerned, there are
none to pay as long as your retired here and not gainfully
employed. Obviously, you will need to file a return in
your original country of residence.

Property taxes are shockingly low in Guatemala.
Tired of paying $4000.00 or $5000.00 a year just to have
a roof over your head. Try somewhere in the range of $200.00
to $300.00 year in Guatemala.
There is a standard sales tax in Guatemala called IVA.
This tax is included in everything you purchase, and amounts
to 12%. You don’t really see, but it’s there. Major purchases
such as a home or automobile (new), have the tax applied
as a separate item.

back to topics

Residency requirements

You have a couple of choices to consider. Under the immigration/tourist
law currently in effect, you can enter Guatemala for a
period of 90 days. At the end of 90 days, you will need
to exit the country, and then return and do the same thing
over again every 90 days. For some, this is just fine,
as a quick trip to Mexico or Salvador can be a welcome
break in your normal routine.
If the thought of driving to the border has no appeal,
you can make application for residency. This process is
not a 20 minute item. You may spend several months of
producing documents that seem to make no sense to the
common man, and then find out that suddenly, you need
one more that may be impossible to produce, as it relates
to something when you were in Kindergarten. You will also
need to produce a statement of income to prove you can
sustain yourself once the residency status is in process.
The best thing to have would be a guaranteed pension from
a recognized pension administrator.
Is it worth all the time and effort? That’s a decision
you need to make.
90 Days seems to be the simple answer, and hundreds of
retired people do it quite happily.
There are lawyers available that will do a residency application
for you if you desire. This is by far the best thing to
do, if your sure that your going to be a permanent resident.

back to topics

Buying a home

The first question is, can a foreigner purchase property
in Guatemala?
The answer is YES. You have all the rights of a Guatemalan
citizen when it comes to property. You are granted full,
unrestricted title to your property. You will receive
a freehold title in your name(s), and you are free to
sell, rent, or live in the home as you wish.
All titles are registered in the Central Registry in Guatemala
City. All property can be checked for liens and encumbrances
prior to purchase.
Normally, your lawyer will do all the work as part of
their required paperwork.

back to topics

Financing the purchase of a home

This may be the one big stumbling block in Guatemala.
Unless you are a resident of Guatemala (generally for
a minimum of 1 year) and can provide proof of income generated
within the country, and you have established a credit
rating, your going to waste your time dealing with the
local banks. Risk is not in their vocabulary. How banking
survives with all the blocks that are put in ones path,
is a mystery to most.
What we recommend, based on the fact that you may not
wish to sell your present home outside the country, is
to arrange an equity loan using your current property
as collateral with your current bank.
The next option is to find a seller that is willing to
provide private financing.
This generally isn’t available, and when it is, most sellers
require at least 50% down payment, and the terms are generally
quite short.
The current interest rates are around 8% in US dollars
for private financing.
This is equal to local bank rates as well.
Full title to the property is only transferred to the
buyer once the last payment has been made.

back to topics

Wills and other things we don’t like to think about

If your retired at the standard age of 60 to 65, then
a will is something you probably have in place at the
moment.
You can create a will that is recognized in Guatemala
simply by discussing it with your lawyer.
If you don’t make out a will in the country, then
your foreign will is acceptable, as long as you have included
your Guatemalan assets in the foreign will.
The will go through probate, and copies that are certified
by the Guatemalan embassy will be required to have your
heirs properly claim you property and transfer title as
per your wishes.

back to topics

We hope you have found the information
provided to be both helpful and informative.
Casa Nova Real Estate has been representing property in
Antigua Guatemala for over 13 years, and their experience
and knowledge is available at your request.
We look forward to meeting you and being of service in
the near future.

Bookmark and Share