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Buying Real Estate in Panama?
Unfortunately many of the horror stories you may have
heard about buying in Panama are all too true.
Much of the problem has stemmed from the lax enforcement
of Panama's laws governing Real Estate agents, but this
has changed dramatically recently. The government has
reacted to complaints and laid charges and levied fines
against companies whose "agents" were not licensed to
carry on business in Panama.
There is also the cultural issue of how land has been
dealt for years. Those people expecting there was a will
and proper transfer of ownership are surprised to learn
that, in Panama, the last authenticated document takes
precedence over all others.
The first rule of buying property in Panama is to use
the services of a lawyer.
The second rule is to know who your lawyer is, as many
of these have proven to be as unscrupulous as the agents
who recommend them.
As Panama becomes more sophisticated and the laws are
enforced, this will change, but right now it is "buyer
beware". |
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and one you will be proud to own. 
