If you're interested in buying property in Panama, the first step is to find a property that you like. With the help of a good real estate agent, you can easily find a property that meets your needs and fits within your budget. Once you find your ideal property, an offer can be made and with the help of your agent, negotiated on a price that suits both you and the seller.
Once you have an offer accepted, it's a good idea to seek out the services of a locally qualified lawyer or attorney. This professional will help gather all of the necessary documents and prepare a contract for the sale of the property. They will provide guidance through the purchasing process and make sure that everything runs smoothly.
In order to secure your property, you will need to pay a deposit. Typically, this is 10% of the purchase price. When reaching this step, it is important to research your financial options and have money put away in an escrow account before full payment is needed.
Typically, the title of the property will be transferred to the buyer before full payment is made. However, each seller is different and may request the full balance of the payment, plus all required taxes and fees, before the transfer is made..