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Buying Real Estate in Panama Made Easy

Panama real estate has been a goal for most foreign investors. They see potential for business development, the market in Panama continues to grow. The development potential comes from the fact that more and more people tend to live in Panama, and welcoming more foreigners that is labeled as a retreat. Apart from the potential commercial benefits, investors find it easy to buy real estate in Panama. With affordable prices and tax incentives provided by the government, foreigners take advantage of the benefits of buying real estate in Panama. Beyond that, investors have a choice of where to buy property in Panama, offering all the favorable views and location. Number of real estate in Panama can be located near the beaches, either on the coast of the Pacific or the Caribbean coast, in the highlands or mountains, or within the city. When the property is located, real estate brokers and agents never run out of the promised benefits in buying real estate in Panama. Foreigners must be in possession of knowledge on what to look for when buying real estate in Panama. Sometimes, real estate agents just want to sell the property no matter what the cost. If the foreign investor does not know how to buy real estate in general, could erupt into a fraudulent transaction or insufficient leading to the investment. Usually, the promise that is too good to be true not to be trusted because in general there is always an exchange of benefits when transacting with real estate. To avoid any confusion or inconvenience to buy real estate in Panama, investors should see if the property is sold is the owner or under rights of possession. Titled properties are more secure property ownership. This means that the property is subject to private ownership. Once the property is titled, is easy to transfer the property for the purchase and sale agreement provided that the full text of the property is in tact. In Panama, the titled property must be registered with the Public Registry of Panama and the buyer should verify if the title is really and registered. The steps in buying real estate in Panama, which is entitled includes the negotiation on the terms and conditions, treatment Pledge Purchase Contract, hire the lawyer to verify the title in the Panama Public Registry; Sign Contract purchase and arrangements “The promise to pay later” and prepare deed of assignment. All transactions and agreements must have supporting documents to ensure that the transaction is under contract and is valid. Then it is necessary to contact an attorney to help you buy real estate in Panama for the validity and security. Property purchase transactions under ownership rights is more complicated because the property at hand is not the exclusive property of the occupants. The occupant is given the right to possess only the government and only one certificate is issued for possession. Once the property is sold, the investor transacting with the government and would be entitled to tax as income the government’s possession. The contract of purchase and sale of the rights of possession, the final document would be a transfer of certification of tenure rights. Both investments are safe, but the main difference is that the rights of ownership over time, however, is as effective as equals by the title and registration. Always investigate and seek advice from a real estate company in good standing and enjoy the benefits of investment property in Panama.

Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit www.cpanama.com.

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