Many foreigners are
buying properties in Panama for investments and for personal use. It’s so easy to fall in love with this place;
no wonder tourists want to own a piece of it. Panama's beautiful luxury homes can
be purchased at relatively affordable prices compared to what you would pay for
a similar house in the US. They are also excellent investments that tend to
appreciate over time.
The process of buying a property
in Panama is simple and easy whether you’re an
ex-pat or not. Both foreign buyers and locals share the same rights and go
through the same buying process. If you're someone who is still exploring the
possibility of purchasing a home in Panama, then this guide is for you.
Hire local realtors
and attorneys
The first step you
must do before buying a property in Panama is to hire a realtor and an
attorney who are experts in the local real estate market. They must be someone
who has extensive knowledge and experience in handling foreign investors or
buyers like you. The best realtor will walk you through the purchasing process
and provide advice and insights on how to look for a home that suits your
budget and other requirements. You also need a qualified attorney to assist you
in securing all the necessary documents and managing the title search. Both can
help you with the negotiation process.
Find the best
locations
Whether you are
looking to live in the city or stay in a stunning beachfront home or a house
perched on a mountain, there's sure to be a long list of options to choose
from. Whatever kind of dream place you have in mind, you can definitely find it
in Panama. The question is, how do you find them? First, search for locations
or neighborhoods. Take into account factors like amenities, economy, quality,
and cost of living. After you've chosen a location, that's the only time you
should focus on a specific style and features of a home.
Find a trusted
lender
Getting
pre-approved by a lender is also an important step to take prior to buying a
property in Panama. This is to ensure that you have enough resources to
finance your chosen property.
