Buying property

4POSTS

8 years ago

Helo,

I would like to know from some of your experience and knowledge, how hard or easy was it to purchase a house in Panama. Many paid cash and if not, how was the process in getting a mortgage out there.

Thank you!

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vesti Member

17POSTS

8 years ago

It is not too difficult, less hassle than you might think given the right abogado and a bit of spanish. there is title search, and electronic listing in the registry govt website once your buy is complete. l have not had to mortgage so there's that. Just be sure a vetted lawyer who is not slippery does your deal. PM if you'd like more as in who where whatnot.

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Gualrichard New member

4POSTS

8 years ago

Great info! I plan on visiting some time this year to take a look

wolfmanmike Contributor

124POSTS

8 years ago

damn near impossible for a gringo to get a mortgage unless he is buying an apartment or a house the bank has ,, then it may take 3 or 4 years as in my wife's case that is a Panamanian with a good job 30 % down for you and based on your age the terms !! at 70 i qualify for a 1 year loan with life insurance jajajajaj so unless you can get a tote the note with a lot down i would not even consider trying //

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wolfmanmike Contributor

124POSTS

8 years ago

i have bought and sold 3 properties for cash on those terms carried the cerdit until thue sold something or resold the property and paid me off ,, i have two right now 21.65 hectares near lake gatun with two year round streams on it titled in a corporation ready to develop looking for buyer or partners and my house on t hill overlooking lake gatun is titled and has webb site as a campground appraised for 232,000 ,, so some good buys out there and is a buyers market but very little financing for resale market

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