How long does it normally take, from start to finish, to purchase Real Estate in Panama?
In an average it takes about six weeks. This time, however, depends on number of factors arising from the negotiations between the buyer and the seller. This then depends on the attorneys at the Public Registry Offices. To give you an idea about the time frame of purchasing a real estate in Panama, it is essential that you are aware of the entire transaction procedure which is as follows: · Agreement of buyer and seller on price and terms. The terms of negotiations affect the time frame. · Seller provides us (our firm) all the documents related to due diligence on the titled property which enables us to do the title investigation. Here seller affects the time frame. · Attorneys carry out the initial title search and draft the Promise to Buy/Sell Contract. It takes about a day if all information are provided both by buyer and seller. · Buyer and seller both review the Promise to Buy/Sell Contract and agree mutually to sign the contract. Time frame thus is affected both by buyer and sell
