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Buying Real Estate in Panama: Our Story Part 1 of 2

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This is part 1 in our series of the story of how we purchased property in Panama!
Our HIGHLY RECOMMENDED real estate agents: Lazare and Carmen at www.rootsrealestatepanama.com
PS: Don't ask me to name the first real estate attorney we worked with, because I won't. It's not smart to name names in Panama, unfortunately. 🙄

Опубликовано:

25 фев 2021

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Комментарии : 63

@IGoPanama 3 года назад

Have questions? Come over to the I Go Panama facebook group at facebook.com/groups/igopanama and I'll be more than happy to help you out over there!

@kpersad2579 3 года назад

My wife and I have been living in Mexico for 7 years, I am a realtor here in PV. We are moving to Panama this summer...excellent information you provide here. We came in November and did exactly what you tell people to do, we rented a car from Rob in Coronado and then drove around for two weeks. Roots Realty has been an amazing help and Lazare is a non-pushy, no nonsense person that I am very happy with. I have watched every video online regarding Panama and of all the ones that talk about buying property in Panama I find yours most informative, straightforward and dead honest...GREAT JOB...and that's coming from a realtor. Only suggestion is try to film out of the wind since it is difficult to hear with the wind on the mic. Thanks so much for you very straight forward videos, keep up the good work.

@IGoPanama 3 года назад

Thanks! Yes, Lazare is TOP NOTCH and one of my best friends here. I know the audio can be a problem, but if I need to film outside and am in a time crunch, I'm kinda stuck with what I have. Of course, the fact that I keep forgetting my Rode Wireless Mic when I go to film and am then too lazy to go back to the house and get it after I already have everything set up doesn't help either. LOL

@fanfare100 3 года назад

@@IGoPanama If you put a foam rubber shield around the mic it can help with the wind. I did actually enjoy the ocean behind you as you sat by your doc. BTW, now that you are a biologist, you might wanna hook up with the Smithsonian Institution in Panama. I believe that they have a lab in Barro Colorado Island on Gatún Lake where they study all sorts of things, including I believe that it is a bat sanctuary. Much fun. They may have other extensions and detachments throughout the republic as well, but it's a good affiliation to have as a biologist. All the best to you.

@IGoPanama 3 года назад

@@fanfare100 They have a branch on Isla Colon as well!

@fanfare100 3 года назад

@@IGoPanama Perrrrfect! They're a great source of info.

@mattneufeld3399 3 года назад

Always look forward to your Friday Vlogs. One of the things keeping me going during these Covid-19 times in the north. Brighter days in Panama in a couple years.

@Marilynschannel 2 года назад

I am surprise how good the sound is with all that wonderful breeze ❤️. I have a brother who lives in BocAs . I am actually viewing this as part of my research to buy properties in Panama

@thomasomacomber8718 3 года назад

Really like the dock and water behind you looks great

@riccidaoro8499 3 года назад

She speaks the truth folks.

@egalt4128 2 года назад

You have my dream spot! I am so happy for you :D Let me know if another one comes up--we are moving to Panama from Canada

@bluestarfishsea 2 года назад

Very good points. I was surprised to see how realtor relationships are so different there too, no loyalty like in USA/canada. You can list with multiple agents and list property yourself, whoever brings the buyer gets the commission. Not like North Amer where if you sell privately while listed with an agent you are in breach. But this is great for the buyer if you can get a hold of the seller 👌👌

@IGoPanama 2 года назад

Exactly!

@relicofgold 5 месяцев назад

Fantastic video.

@michaelbecker7093 3 года назад

I love Bocas!

@fanfare100 3 года назад

haha Wow! You had quite an adventure. And as a biologist you are literally having a field-day with so much biodiversity. Glad to have someone like you on board with Panama. Someone who is appreciative and conscientious about natural wildlife. May I ask what your internet speed is and how much you are paying? Reason I ask is that I anticipate that within a year there will be a satellite service that will provide FiOS-like speeds at $99, no matter where you happen to be on the planet. It is called StarLink and it is already in Beta Testing. There are already a gazillion RU-vid Videos of people unboxing and setting them up. These devices have been designed so that even a 7 year old can set them up, so there would be no need even to call a contractor. Unfortunately they are starting to offer their services at the poles and then working their way to the equator, so Panama will likely be amongst the last to get it, but they are covering the planet at lightning speed. So be on the look out and I'm sure this will help others who are in similar shoes who's property decisions depend upon the ability to obtain Internet access. All the best to you. I've been enjoying your videos and am a subscriber.

@IGoPanama 3 года назад

I'll be doing a video on our internet situation soon. And yes, we've already put down our deposit for StarLink. 🙂

@fanfare100 3 года назад

@@IGoPanama Woohoo! Did they give you an approximate time as to when it might start to become available in that region. So far they seem to be beginning testing as far south as Virginia, but each month they launch an whole bunch of new satellites. They seem to be launching at lightning speed. Much faster than I ever imagined. When you do get it, you should do a video of the unboxing and test it out on stuff like streaming video like Netflix, RU-vid and live VTC stuff.

@IGoPanama 3 года назад

@@fanfare100 No, no timeline. Like with everything in Panama, we'll just patiently wait our turn. :)

@fanfare100 3 года назад

@@IGoPanama lol gotcha. What else is new. lol The national motto should be "In due time" XD

@julioarrieta6295 3 года назад

Yes in Costarica also they try to sell me a property that was aready sold to 2 more people.

@IGoPanama 3 года назад

YIKES! Lucky you caught it in time!!

@OneTwo-fv6nw 3 года назад

I had my eye on this property for several years too!

@IGoPanama 3 года назад

I had seen it online, but it was just way outside of my price range for what it was. Luckily, just by chance, I contacted the agent right when the owner was finally ready to get rid of it once and for all! :)

@OneTwo-fv6nw 3 года назад

@@IGoPanama Exactly our thoughts too. We were ready to fly to Bocas to continue our search last spring but Covid hit and delayed our plans.

@IGoPanama 3 года назад

@@OneTwo-fv6nw If you are in the market for road and sea access, there are 3 hectares available next to me that are REALLY nice. I walked it the other day. It's a lot flatter than my property!

@OneTwo-fv6nw 3 года назад

@@IGoPanama How can I contact you?

@IGoPanama 3 года назад

@@OneTwo-fv6nw You can send me a message through my facebook page at facebook.com/I-Go-Panama-111906237357758

@bernadette503 3 года назад

Unbelievably informative video!! I am Canadian with over 40 years real estate experience. Expats please be aware.....Rights of Possession and Title Property.....please ensure that you know the difference!! I am looking at relocating/retiring to Panama and just started the real estate research and came upon this over the weekend. I just viewed another blog that was put on by a real estate agent and I asked him WHY ROP vs Titled Property is not being addressed!!. Caveat emptor!!!

@IGoPanama 3 года назад

Glad you liked the content! Yes, ROP vs Titled is a big issue- especially where I live in Bocas del Toro, as probably 90%+ of the properties are ROP.

@thewsw 2 года назад

Thank you very much🤍

@colinweekes1284 3 года назад

Hi. You have a clear voice. Why was Nicaragua not on your short list?

@IGoPanama 3 года назад

The government is too unstable there, and there is a serious lack of infrastructure. Plus, getting residency is a headache.

@mirningarden 3 года назад

Hi, how was your experiencia transferring funds from USA to Panama to pay the property? I hope you can include some info in your next video. Thanks

@IGoPanama 3 года назад

That information will be included in the next video where I talk about completing the purchase.

@deltablue4369 3 года назад

how do you find the owner of a residence to negotiate their asking price?

@IGoPanama 3 года назад

It's really a "boots on the ground" process to do that. Some do list their own properties on sites like Viviun.

@deltablue4369 3 года назад

@@IGoPanama Thanks for your prompt response. I am a new subby and really enjoy your content! Keep up the good work!!!

@fanfare100 3 года назад

If a property is for sale, if the owners are not present, it will often have a sign in front of it that says "Se Vende" with a phone number and email address.

@GideonDavid 3 года назад

Hello again I'm looking forward to your internet video. Another question I have is which cell phone provider works best in your region?

@IGoPanama 3 года назад

Can you please ask that at facebook.com/groups/igopanama/ and I can help you there?

@kellipeterson8631 2 года назад

We ate looking at a property in miramar that roots is listing!

@IGoPanama 2 года назад

I've seen one of their properties over there- a house not far from town on the water with a large bodega......if it's that place, I really liked it! So much flat, usuable land!

@kellipeterson8631 2 года назад

@@IGoPanama 3 hectares, couple lived there 25 years. It's beautiful

@IGoPanama 2 года назад

@@kellipeterson8631 That's it! Nicest couple ever.

@kellipeterson8631 2 года назад

@@IGoPanama it's beautiful!

@joukorantaniemi6441 3 года назад

If I by proprty as a foreigner in The USA i have been recomende to set up limited company that owns the propery.. due to tax reasons. Sounds very similar tl what You described

@riccidaoro8499 3 года назад

You want to set up buying your home in panama into a corporation. Make sure the corporation does not have the attorneys name any where on the paperwork. That's how they steal it. So read the contract.

@nickm2226 3 года назад

Did you try to have a look also in Barbados? Seems no bad there also to buy a property

@IGoPanama 3 года назад

No interest in living on an island.

@nickm2226 3 года назад

I really love your videos, you are giving so much information that it is very useful, but how is there for medical attention? I mean if one day I don't feel good is there ambulance doctors etc?

@IGoPanama 3 года назад

I haven't needed medical attention, so I can't speak on that. There are ambulances and doctors and hospitals, of course! Where you are will depend on the level of care. There is top notch medical services in Panama City. I live in the rural jungle a 9 hour drive from there, so yeah..... ;)

@fanfare100 3 года назад

@@IGoPanama Not to worry. There are clinics much nearer to you than in Panama city. My yoga teacher and her hubby went to Panama and she was walking around in the jungle, barefoot, and cut her foot on as sharp rock. Her hubby helped her back to the town in Bocas del Toro (I don't know which one) and the was attended to in a clinic where they cleaned her up and stitched her up and bandaged and gave her some meds. After all of that I don;t believe they ended up paying more than $12!! And she says they did a good job and they even had some doctors and nurses which could speak some English! They were impressed. They did not even need to present proof of insurance, so that was the cost _without_ insurance.

@riccidaoro8499 3 года назад

Please tell people about how to avoid corruption and the laws people need to know.

@IGoPanama 3 года назад

I haven't encountered any corruption, and I work very closely with my attorney. There's no way for me to know all of the laws here- that's his job! However, I do have a video on the channel about the legalities of hiring employees here.

@edensfamilyadventures2714 3 года назад

Wow! Real Estate purchases in Panama can be scary sounds like

@IGoPanama 3 года назад

Buying real estate ANYWHERE can be scary! You just have to do your research and work with competent, trustworthy people. 🙂

@riccidaoro8499 3 года назад

I own a home in Boquete. When you buy in panama you need to be very careful that you don't get hooked up with a corrupt attorney or a corrupt realtor. I have my house for sale.

@fanfare100 3 года назад

I've had some scary experiences in the U.S. One time I was rented an AirBNB for a property that was not for rent. Another time I was speaking to a Real Estate Agent about a property that seemed too good to be true (it was 40% lower in price than the going value for houses in the area). Owned of the times I saw that someone was on the property so I approached them and they said "Heck No! That property was definitely not on the market and that they lived there."? I handed them all the info and they reported the fraudulent "Real Estate Agent". The AirBNB was in Maryland and the Real Estate was in New Jersey! So, I can only imagine this happens more often than one might think, including in the U.S. I heard that this was happening more often during the covid pandemic. Hopefully it will lessen somewhat now.