Belize Dreams: Why Real Estate Due Diligence is Your Best Investment

In real estate due diligence is a must. Here’s why.

Serene seaside vistas, emerald green grass, golden sunsets — the Dreamscapes of Belize planned community seemed like a can’t-miss for real estate investors and private buyers alike. But ten years later, the ground is unbroken and bewildered customers are locked in a court battle over their missing funds.

The Investigation

The problems lurking behind Dreamscapes’ slick marketing campaign came to light in 2015, as West Palm Beach investors filed a lawsuit against disbarred attorney Kenneth Dunn. The plaintiffs alleged that Dunn convinced them to pay twenty to thirty thousand dollars apiece for lots in the planned Belize community that would eventually boast an 18-hole golf course, police and fire station, boat harbor and suite of luxury homes. The project never got off the ground, and the lots are still vacant — with paying customers left high and dry.

Offshore Dealings

Even more troubling, early April’s leak of the Panama Papers — a set of documents detailing massive, illegal offshore financial activity — indicated that Dreamscapes’ holding company was a shell corporation set up by Mossack Fonseca, a Panamanian law firm at the center of the scandal.

Performing Real Estate Due Diligence

Due diligence is an essential part of any investment, including investment in commercial or residential real estate. Commercial real estate investments require far more in-depth investigations, into the financial state of the property, the financial and legal standing of the business itself, and the background of the owner or owners. All American Document Services can streamline real estate due diligence by providing all required information under one roof.

Clarifying Legal & Financial Risk with All American Document Services

All American Document Services provides search and abstraction of a wide range of property documents essential to the title, real estate, and mortgage industries. We also serve the corporate and legal world with research and retrieval of a variety of courthouse documents, lien searches, background checks, and pending litigation searches. Our accurate investigation, rapid turnaround time, and paperless delivery have helped to expedite thousands of business and real estate transactions since 2002. Visit our homepage today to find out more!