FAQ - Real estate process and law
Buying process overview
How does the process of buying an apartment in Panama usually work?
High-level steps:
- Choose property and agree terms
- Promise of purchase / preliminary agreement with deposit
- Due diligence and documentation
- Final deed before notary
- Registration in the Public Registry and final payment
What are the main steps if I decide to buy at PH Sunset Palace?
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Tailored version of the above: reservation, formal offer, promise agreement, due diligence, closing coordination with buyer’s lawyer, registration
How long does a purchase typically take from offer to closing?
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Indicative range based on typical Panama transactions (e.g. several weeks to a couple of months, depending on due diligence, banking, and registry timings).
Title and due diligence
How is the legal status of the property checked
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Mention: search in the Public Registry, confirmation of ownership, size, liens, encumbrances, and other annotations
What does ‘due diligence’ mean in practice?
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- Title search and registry review
- Confirmation of tax and HOA payment status
- Review of utilities and building permits
Do I need my own lawyer?
YES
Both sides usually work with their lawers and documents are presented to the notaria in the public register.
Ownership and foreigners
Can foreigners own property in Panama?
YES, foreigners can own titled property with the same rights as citizens,
Do I need to be a resident to buy?
Residency is not required to purchase, although buyers should consult their own advisers on migration, tax, and estate planning implications
Is the apartment held in my personal name or a company?
Property can be held personally or through a corporate structure, to be decided with the buyer’s legal and tax advisers
Costs and taxes
What additional costs should I expect besides the purchase price?
Legal fees, notary and registration costs, transfer taxes, bank fees, and HOA fees.
Who pays which taxes and closing costs?
The seller pay commission and government taxes, the buyer pay registration cost, and each party pay its legal fees.
Are there ongoing property taxes or building fees?
- Property tax basics at a high level
- Monthly condo/HOA fees for building operations and amenities
- Buyers should request current numbers and confirm with their advisers.
Viewing and remote purchase
How can I arrange a viewing of the apartment?
Just contact us
What if I am not in Panama at the moment?
- Video calls and virtual tours
- Sharing of floor plans, additional photos, and documents
- Coordination with the buyer’s local representative or lawyer.
Is it possible to complete a purchase remotely?
Yes. Many foreign buyers complete transactions from abroad using powers of attorney
and their own legal counsel, subject to Panamanian law; recommend discussing structure
with their lawyer.
Contact for detailed questions
Who can I speak to about legal and practical questions?
The owner, Niels Sundel, is a lawyer with many years of experience. He can provide general information and practical details, but all buyers should rely on their own legal and tax advisers for formal advice.
How can I get a written summary of the process and estimated costs for my situation?
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Send a tailored overview or connect directly to discuss, with a clear note that any summary is informational and not legal advice
What is the best way to start the conversation if I am seriously considering a purchase?
Please contact the owner, Niels Sundel, by WhatsApp or by email. You can find contact details on every page, and an email form on the Contact page.
Including as much information as possible (residency, timing, budget range, intended use) will make sure that the response is as relevant and efficient as possible.