Panama Real Estate Law

A rise in real estate related litigation in Panama is raising eyebrows, but a closer examination reveals that his is evidence of the integrity of Panama’s real estate markets.

Much of litigation swirling through the courts is rooted in the country’s boom era condo markets In the midst of a feverish market, buyers left deposit money and contracts in the hands of developers with little thought to the implications. Now that times have changed in their home countries, some of these buyers are looking for an exit sign.

It would be unfair to say that boom era buyers were foolish to enter into agreements for units that wouldn’t be delivered for years in the future. Promises of an ocean front unit in paradise, can lead even the most sober buyer to throw their heart over the bar. What we can do is learn from the experience of these back out buyers, while snapping up some of the bargains they are leaving behind.

Litigation is always a bad outcome in a real estate deal. One of the best insurance policies against disappointment is to buy a finished until rather than one still on the drawing board. Always work with a buyer’s agent able to guide you along the way. Make sure to have your deal reviewed by a Panamanian attorney prior to closing.

Thousands of successful real estate transactions are done every year in Panama. If you were to look into the details of these you would find that the buyers involved were very adept at crossing T’s and dotting I’s. Haste and a failing of attention to detail are not advised in any endeavor. Take you time and your real estate ventures in Panama will be among your best.

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