How long does it normally take, from start to finish, purchasing property in Panama?
The time frame from start to finish is normally about 6 weeks. However, it is contingent on a variety of factors which are dependent initially on the buyer and the seller, the negotiation between buyer and seller, and subsequently dependent on the attorneys and the public registry. Generally, property transactions have the following procedures: (1) The buyer and seller to agree on the price and terms (time frame can vary depending on the negotiation) (2) seller provides our firm with all the due diligence documentation on the property title so we can do the title investigation (time frame depends on the seller) (3) attorneys do initial title search & draft the promise to buy/sell contract (time frame is approx. 1 day assuming we have all the required information from buyer and seller) (4) buyer and seller review the promise to buy/sell contract and agree to set a date to sign (time frame varies depending on the buyer and sellers) (5) buyer sends payment for down payment and legal fees
