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Real Estate Shopping in Panama: Important Tips

Real Estate Shopping in Panama

Real Estate shopping in Panama is not easy as it is in the States. To start, Panama has no Multiple Listing Service (MLS). Secondly the legal system is weak and time consuming. So it’s important that from the beginning you find reliable professionals to work with, including your real estate agent and your lawyer.

  1. Americans in Panama yahoo group
    It’s extremely important that you find an honest, reliable real estate broker. A number of ex-pats have been cheated by a supposedly “fantastic” realtor.One of the best ways to find a good realtor is to ask other experienced expats for a recommendation. To find them, we recommend you sign up to the Yahoo group “Americans in Panama”: americans_in_panama@yahoogroups.comSeveral hundred ex-pats living in different parts of Panama are on the list. They are happy to share info about good realtors, location tips and other practical info. There is a good chance someone has already asked your question before, so search the forum first.
  2. Encuentra24.com
    A good way to see available properties is on the website www.encuentra24.com. It’s in both English and Spanish and showcases properties for most of Panama. Being on the website does not mean the owner or realtor is honest. But at least you can get an idea of price ranges and what’s available.
  3. Tucan Real Estate
    Once you’ve found the right property, get a reliable lawyer. This is very important. Panama’s judicial system very slow. So don’t think you can solve any problems with a court case. Work only with professionals that come well recommended.We recommend you go with one of the lawyers on Panamainfo.com Legal Services section or get a recommendation from knowledgeable expats.
  4. Panama Pacifico
    For optimum personal safety, we recommend choosing to live in either a condo or a gated community. Panama is the safest country in the region for tourists. However, home robberies are not uncommon.
  5. Live for a couple of months in the area of Panama you want to purchase a home. That’s the best way to be sure that the location and lifestyle of Panama in general is your ‘cup of tea’.