If you are planning on buying a pre-construction property, there’s a very good chance that you will see a clause in the ‘Promise to Buy and Sell’ agreement stating that there could be a price increment over the value of the property. Although, the clause mentions the possibility of a price drop as well, this is a very unlikely scenario.

In most cases, the price will be increased up to 3% of the total value of the property. The developer will usually attribute the price increment to reasons such as price changes in construction materials, salary, insurance policies and bank financing, among others.

Something to keep in mind when buying a pre-construction property.

Tuesday, June 26th, 2007 | Posted in Real Estate | 2 Comments »

Although, we are always trying to add helpful articles regarding the real estate process in Panama such as The General Process of Buying Real Estate in Panama and Purchasing Real Estate in Panama from Abroad, there is still a large amount of information that needs to be covered.

With that in mind, we have decided to write a Real Estate Guide for Panama, which will consist of a series of articles focusing on each one of the most important real estate topics in panama. The guide is a work in progress and we will be constantly adding new articles with different topics until every topic is covered. (more…)

Tuesday, June 19th, 2007 | Posted in Real Estate | No Comments »