The Panama Chronicles (Pt. 2)

Discovering the Realities of Purchasing Property in Panama.

So we've been on the hunt for property since we have been back from our visit and it has been a doozie!

We had found this land that was so reasonably priced for a larger parcel of land and we kept saying to ourselves - what's the catch?

We assumed it wasn't titled. Which is a thing in Panama where you have properties that are Right of Possession. Where people claim land and the ownership isn't registered with the government which leads to a lot of bureaucratic headaches.

We contacted the broker and surprise! It was titled! So we got the coordinates for the property and started deep diving topography. We contacted a geotechnical professional to inquire about the boundaries, surveys, etc. and we were about to pull the trigger with spending about $5k USD to send him out to confirm boundaries as a first step to purchase the property.

When he pulled up the property in the system, there was a massive discrepancy on the size of the land. Then he noticed that this property is actually on the other side of the river. So we contacted the broker again, and got new coordinates and it ended up being in an area with such severe slope that it would cost an arm and a leg to build a house.

Crisis averted. We didn't spend a bunch of money out the gate. It was a great lesson learned for our first foray into this adventure. A slap in the face with some reality was healthy.

We've been reaching out to some realtors and finding it difficult to hear back! Very interesting! Panama life - right? I've made a couple connections and we will see what comes of it!

I'll keep ya posted!

-HHH