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Panama – Finding Property to Buy

Popular Estate Agencies

  • REMAX: A popular estate agent in Panama with over 30 years of experience in the market, offering a wide range of properties, including residential, commercial and investment properties.

  • Century 21: This is a well-established real estate company in Panama, offering a wide range of services for buyers, sellers, and investors.

  • Punta Pacifica Realty: A leading real estate company in Panama, providing services for both local and international clients, with a focus on the luxury market.

  • Engel & Völkers: This is an international real estate agency that has a presence in Panama, offering a range of properties, including luxury villas, apartments, and commercial properties.

Qualifications and Licences in Panama

In Panama, estate agents are required to obtain a license from the Superintendency of Securities, which regulates the real estate industry. The license requires agents to take courses, pass exams and demonstrate their knowledge of real estate law and regulations.

Breakdown Estate Agent Fees

Estate agents in Panama typically charge a commission fee, which is a percentage of the total sale price of the property. The commission fee is typically around 3% of the sale price, and is usually split between the buyer’s and seller’s agents. For example, if a property sells for $500,000, the commission fee would be $15,000, with $7,500 going to the buyer’s agent and $7,500 going to the seller’s agent.

Alternative ways to Find Property for Sale in Panama

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  • Online property websites: Websites such as Encuentra24, Panama Listings, and Propiedades.com, offer a range of properties for sale in Panama, including residential, commercial and investment properties.

  • Expat websites: Websites such as Internations, Live and Invest Overseas and Panama Relocation Tours provide information on living and buying property in Panama, including lists of properties for sale.

  • Magazines and newspapers: Local newspapers and magazines, such as La Prensa, El Capital Financiero and Revista de Propiedad Inmobiliaria, offer information on properties for sale in Panama.

The Use of a Buyer’s Agent

The Use of a Buyer’s Agent is becoming more common in Panama, particularly for foreign buyers. In most cases, a buyer’s agent is not required to have a license, but it is always recommended to choose an agent with experience and knowledge of the real estate market. The cost of a buyer’s agent varies, but typically ranges from 1-2% of the total sale price.

Organizations for Foreign Property Buyers in Panama

  • Panama Association of Real Estate Brokers (APCBR): This is the main professional association for real estate agents in Panama, offering a range of services and support for both local and foreign property buyers. Website: http://www.apcbr.com/

  • The Panama American Chamber of Commerce (AMCHAM): This is a non-profit organization that provides support and information for foreign businesses and investors in Panama, including information on buying property in the country. Website: https://www.panamachamber.com/

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