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REPLAY:  Why NOT to Buy Real Estate in Panama…Yet

Last Updated on December 17, 2020 - by Jackie Lange

REPLAY: Why NOT to Buy Real Estate in Panama…Yet

Advice for Panama Expats www.PanamaRelocationTours.comClick on the link below to listen to the replay of the conference call from Saturday, December 12th.

I discuss three important reasons why you should wait at least 6-12 months before you buy real estate in Panama.  Six months gives you time to makes sure you like living in Panama and that you have picked the right weather/microclimate.  But more importantly, six months gives you time to get a permanent residency Visa before you buy real estate in Panama.

I know several people who applied for a Visa, got their temporary Visa, then their permanent Visa was denied.  Unfortunately, some of these people had already bought real estate.   If you don’t have a Visa, you can only stay in Panama for 180 days AND you cannot drive for more than 90 days.  That’s why it’s so important to get a residency Visa before you buy real estate in Panama.

I had a power outage about 45 minutes into the call just when I started taking questions from the audience.

https://panamarelocationtours.com/wp-content/uploads/2020/12/2020.12.12-prt-call-edit.mp3

When you do get ready to buy real estate in Panama, here are some tips:

Panama Rental

I’ve been a real estate investor since 1992 and have bought and sold hundreds of properties so I know real estate. I’ve also bought and sold real estate in Panama. In Panama the whole process of buying and selling is completely different.

Most foreigners selling real estate do not have a license. Just because a foreigner has a license to sell real estate in Panama does not mean they are trustworthy. Foreigners who sell real estate without a license are considered a “consultant” or associate. A foreigner cannot be a “licensed” real estate agent until they have been working with a broker for several years then take a test, in Spanish, to get a license. 99% of the foreigners who sell real estate are not licensed real estate agents.

WHO CAN YOU TRUST?

Any foreigner who is working in Panama or selling real estate is required to have a work permit. If you’re working with an expat (foreigner) to buy or sell or rent real estate, you should ask to see their work permit to verify that they are working legally. An owner can sell their own real estate without having a work permit… unless they have made a business out of buying and selling real estate then they need a work permit.

Most expat real estate agents or salespeople have absolutely no previous experience with real estate. Yet, they want to help you make the most expensive investment of your life so they can make a commission. In many ways, Panama is like the wild wild west when it comes to real estate. There is no code of ethics. Some real estate offices insist that everyone who works in their office operates ethically, but other real estate offices do not have that policy.

If a foreigner is advertising that they have a “real estate agency” in Panama, it could be an illegal operation. Chances are they do not have a work permit either. It is better to work with a company and sales people who work legally in Panama. Avoid those who are not working legally. By the way, Panamanians do not need a work permit to work in Panama. Only foreigners need a work permit.

Neither the Panamanians nor the foreigners who sell real estate or help you buy real estate are obligated to fiduciary responsibility in Panama. Fiduciary responsibility means that they will put your interest above their own. It’s not required in Panama though some honest real estate agents/consultants do put your interest first and foremost. Others will say and do anything to get the sale and their commission. You would not believe the stories I’ve heard!

Panama RentalsSome agents, but certainly not all, will put their commission above your best interest. That’s why it is important to always have your OWN attorney do a title search and create the purchase contract. Your attorney can also give you advice about what is needed to successfully buy real estate in Panama. Unfortunately, many real estate sales people will not tell you that:

♦ You should always get the property inspected
♦ You should get the septic and water systems inspected
♦ You should verify that there is a Certificate of Occupancy filed
♦ You should verify that all taxes have been paid (even if in a corporation)
♦ Be aware of the pros, cons and dangers of Right of Possession property
♦ 3% capital gains tax (on full sales price) even if a corporation
♦ 2% transfer tax (on full sales price) even if a corporation
♦ Review the survey to verify what you are buying or get a new one
♦ If there is a tax exemption, it needs to be transferred to you
♦ The best way to take title for your situation

Your attorney will make sure that your interest is protected before any contracts are signed, money changes hands or title is transferred. Most likely, all contracts and other documents will be in Spanish. Unless you are fluent in Spanish it is especially important to get YOUR attorney to create or at least review, all documents. Do not trust what someone other than your attorney says the documents say. You can request that the contract be in Spanish and English.

Panama RentalsClosings are handled in a completely different way in Panama. There are no title companies or escrow offices. It is customary to give the seller 5% down when the contract is signed (it’s not held in escrow) so it is imperative that your attorney is involved before any money changes hands. Your attorney should not be the same attorney as the seller’s attorney and certainly not the real estate sales person’s attorney. You need to have an attorney who represents you and your interest. Your attorney will prepare the closing documents, then you and the seller will go to a notary to sign everything. Your attorney will record the documents once everything is notarized. There are slight variations in closings for right of possession properties.

Titled Versus Right of Possession Property

Not all property in Panama is titled. If you are considering buying a property, you should ask the seller or the real estate salesperson for the FINCA (farm) number. With the Finca number, your attorney can do a title search to verify that the person selling you the property is really the owner(s), can determine if there is a mortgage, the balance of the mortgage, if the payments are current, and if all taxes have been paid.

If the seller cannot supply you with a Finca number it is probably a “right of possession” property, meaning there is no title. These properties are usually priced much less than titled property. Because it is not titled, you are taking the risks that someone could come along later claiming that the property has been in their family for years. At that point, you lose your home and all the money you invested. It rarely happens but it does happen.

Panama REntalsRight of possession property can be titled but the process takes about 5 years about costs about $6,000 to $100,000. I know some people who have been trying to get their property titled for 10 years with no success. I also know people who lost tens of $1,000s of dollars buying right of possession property. And I know people who have purchased right of possession property with no problems. If you do buy right of possession property, you still need to get your attorney to review all the documents that the seller has to claim their ownership of the property. Get your attorney to review the survey to verify what you are buying. Buyer beware of right of possession property.

Not all right of possession property can be built on. If you plan to build, verify that you can get a building permit before you give anyone any money. If there is a current building on the property, verify that it is legal and can stay.

If you buy titled property, you can avoid any right of possession problems because there is a clear and recorded chain of title.

TAX EXONERATION = NO PROPERTY TAXES

Rental near Chitre PanamaIn 2008 the government stimulated the real estate industry by promising a 20-year tax exoneration for properties that were built prior to January 1, 2012. This tax exoneration, which only applies to titled property, can be transferred from one owner to the next. But you should be aware that the tax exoneration only applies to the improvements or construction. You will still need to pay taxes on the land.

The tax exoneration rules changed in 2012. You still get a break on property taxes for houses or condos built after 2012 but not a 20-year tax exemption. Depending on the price, the tax exoneration could be for 15 years to as little as 5 years.

Then in 2018, the property tax laws changed again. If you purchase a titled property for $120,000 or less, you will NEVER have property taxes. Properties valued at $120,000 to $750,000 only have a 0.50% property tax but that is only after the 20-year tax exoneration if it applies.

Right of possession properties currently pays zero property taxes. That’s a plus. But the Panamanian government is talking about requiring all right of possession property owners to title their property which could cost $6,000 to $100,000 depending on the size of the property.

HOW TO TAKE TITLE

Bocas del Toro PanamaIn Panama, it is not customary to take title to a property in your own name. Instead, you would take title in the name of a corporation or a foundation. There are several reasons this is done including asset protection and estate planning. Some agents will tell you that you do not have to pay capital gains taxes if you just buy the shares of the corporation instead of the real estate. This is not accurate. If the seller does not pay the capital gains taxes when the property is sold, you could get stuck with the bill later.

There are pros and cons to taking title in a corporation. The biggest “pros” are asset protection and estate planning. You could avoid probate too. The biggest “cons” are the upfront cost in setting up a corporation which can be $1,000 to $1500 depending on which attorney you are working with. There is also a $300 annual renewal fee to keep the corporation alive. If you’re a US citizen, you will also have to report the “offshore corporation” to the IRS. If you take title in your own name, you can avoid these additional costs.

EASY TO BUY, NOT SO EASY TO SELL

PanamaRelocationTours.comIf a property is priced right it will usually sell within six months But because there is no way to know what the right sales price is, most properties are not priced right. You cannot go by what other people are asking for their property. Generally, houses priced under $150,000 sell faster. Anything priced over $250,000 could take two or three years to sell. Properties priced over $500,000 could take five or more years to sell. Some houses have been on the market and priced too high for more than 5 years – yet the sellers refuse to lower their price. It’s crazy!

Some sellers try to justify their sales price based on replacement cost but that is not an accurate way to price properties in Panama because building costs vary considerably.

THINGS YOU SHOULD CONSIDER BEFORE BUYING IN PANAMA

House in Puerto Armuelles PanamaIf you have health problems you need to know where the closest medical facility is located and how long it will take to get there. It may be better to rent instead of buying.

You will need to determine where the closest grocery store is located and if they have the items you need.

If you travel a lot, you’ll want to be close to an airport.

You may not be able to get fast internet or any internet or cable tv service in some areas. Yet other areas have fiber optics and you can get 100-600mbps internet speed.

You’re not just buying a house, you’re buying a neighborhood so it’s important that the surrounding houses are of equal or greater value to yours or you could have a really hard time selling later.

Always investigate the crime situation any area you are considering buying in. You can get on Facebook to ask people who live there if there have been any break-ins, drug busts or other crime problems. Most areas in Panama have very little crime. But some areas have seen an uptick in crime.

Because there is not an active MLS system in Panama, it is very difficult to determine value. You should not rely on what the real estate salesperson or the seller tells you: instead, you should do your own due diligence. it takes time to learn property values so that’s another reason to wait at least 12 months before buying.

FINANCING

Foreigners can get financing from a bank to buy real estate in Panama. You will need to put down 20-30%. All banks will require a life insurance policy for at least the amount of the mortgage naming the bank as beneficiary. The biggest problem is that banks require most loans to be paid off when you turn 70 years old. It could take several months to get financing through a bank.

You can avoid these hassles by buying with seller financing. Some developers offer 5-year seller financing. And many sellers who have been trying to sell their house a long time will offer seller financing (or you can ask for it) if you pay a 20-30% down payment. When sellers offer seller financing, you may be able to get 0% interest. I’ve helped many people from our tours buy houses with seller financing.

RENT FIRST!

I highly recommend that you rent for at least 12 months before you even think about buying anything in Panama. In that time, you can be sure you like the area. You will have time to keep track of the sales price of homes in the area so you will know the “right” price to pay when you do decide to buy. During the 6 months that you’re renting, you will get to know a lot of people and get referrals for good and honest real estate agents and consultants. You’ll also likely hear about a few salespeople to stay away from. You may hear about a hot deal before it is listed with a real estate agent. If you are moving to Panama, it will take about 6 months to get your permanent residency Visa which is another reason to wait 6 months to buy.

Panama RentalsSpeaking of listings… many properties you see for sale do not have an exclusive listing with one agent or company. Instead, the seller has told all the real estate sales people in town that they will pay a commission to whoever brings a qualified buyer. With this arrangement, you are likely to see the same property at many different prices on many different real estate websites.

If you are from Canada, do not assume you can trust real estate salespeople from Canada. If you are from the USA, do not assume you can trust real estate sales people from the US. Ditto from Europe, etc.

Panamanians are excellent real estate agents! There are a lot of really good expat real estate salespeople.

If a real estate salesperson goes to church, claims to be a Christian, frequents the Panama forums or Panama Facebook groups, it is NOT a sign that they are trustworthy… the could be just trolling for the next sale/commission. Scammers also frequent forums and facebook… so be careful.

There are a lot of really great real estate agents and salespeople in Panama. ­­­You’ll meet some of them during a Panama Relocation Tour and we have recommendations for honest real estate companies and agents n our Online Panama Relocation Guide It’s best to get a LOT of recommendations from locals before you start working with anyone to buy real estate.

EXAMPLES OF REAL ESTATE FOR SALE IN PANAMA

 

playa dorado panama$105,000 Two bedrooms Two bath gated community next to the Pacific Ocean.
Many community amenities including, pools, club house, lake with paddle boats,
BBQ areas, tennis, golf. Only 5 minutes to Westwind Mall and 40 minutes to
Panama City

 

 

 

 

burica panama view

 

Only $245,000 for an oceanfront house. Three bedrooms three baths fully furnished house on two acres ocean front just east of David. It also has a casita on the property which could be rented out or used for guests. Amazing beach and views. It is fully furnished

 

 

 

Coronado Condo$259,000 Oceanfront condo. Three bedrooms, Two baths, fully furnished. Amazing views
and ocean breeze. This is 2 miles to Coronado which has a hospital, many grocery stores,
restaurants and more. And it’s only one hour to Panama City

 

 

 

las tablas for sale 69000

 

 

$69,000 in the cultural center of Panama, Las Tablas. Three bedrooms two baths.
Unfurnished. Fenced yard. Great neighborhood

 

 

 

 

 

 

boquete panama house for sale

 

$125,000 fully furnished 3 bedroom 2 bath 2 living area mountain home near Boquete.
Great investment property or place to live. Ten minutes to downtown Boquete or 20 minutes to David.
This one SOLD recently!

 

 

 

volcancito panama two houss

$199,000 for TWO houses. The main house is a two-bedroom two-bath, fully furnished.
There is a one bedroom furnished rental casita next door for instant income.
This property is 8 minutes to downtown Boquete.

 

 

 

 

DON’T LEAVE YOUR BRAINS AT THE BORDER!

rentals PanamaWhen you see that gorgeous ocean or mountain view and a house priced much less than you’d pay where you live now, don’t get so excited about the opportunity that you forgot to do the normal due diligence before buying real estate. Always get the property inspected. Never sign any documents or give anyone any money until your attorney has had a chance to review everything.

One other word of caution – don’t buy real estate then leave town trusting someone else to get repairs done or to build your house. You should be present while a house is being built or when repairs are being done.

NOTE: Panama Relocation Tours does not sell real estate. During a Panama Relocation Tour, we will show you several rental properties just so you can get a general idea of what you get for your money in different areas and different price points. We will introduce you to trusted real estate salespeople during the tour. Panama Relocation Tours does not, and never has, accept commissions or “kickbacks” for any real estate sales or rentals.

Filed Under: Panama Conference Call Tagged With: buy real estate in panama, how to buy real estate in panama, living in panama, retire in panama

Top 10 Reasons People Leave Panama

Last Updated on November 2, 2020 - by Jackie Lange

Top 10 Reasons People Leave Panama

I love living in Panama.  But, it’s not right for everyone.  Some people move to Panama then realize it’s not right for them, so they move away.  It’s not always a “bad” reason that people want to leave Panama.  This information is based on talking to people I know who have moved away from Panama.

We strongly recommend that you just rent for at least the first year when you move to Panama. This gives you time to make sure you like living in Panama.  It gives you time to make sure you like the microclimate you have moved to. Living in Panama a year gives you time to experience the dry season and the rainy season which can be dramatically different.    Living in Panama for a year gives you time to understand the “right” price to pay if you follow the real estate market.

The Top 10 Reasons People Leave Panama are:

1.  Newly Retired – a couple spent most of their time working before moving to Panama. They were together a few hours in the evenings and on weekends.  But when they move to Panama, they are suddenly together 24/7.  Some people realize they don’t like living together 24/7 so one might leave Panama or they both leave Panama then go their separate ways. To avoid this problem, it’s good to get involved in separate activities when you move to Panama.  There are plenty of volunteer opportunities, hiking groups, cooking classes, and other things to get you out of the house.   Volunteering is a good way to meet people too.

2. Health Problems – They may develop serious health problems then want to go back home to be close to family.  Or they leave Panama so they can use Medicare or other health insurance that does not cover them in Panama.   Sometimes, a close family member may become very ill so they leave Panama to help take care of them.

3.  Prescription drugs – It’s important to find out if your medications are available in Panama and what they cost before you move to Panama. Some have left Panama because they could not get their medications or because they were too expensive.  Panama insurance may not cover the cost of medications so you have to pay out of pocket.  You may be able to get drugs shipped to Panama from your country.  During a Panama Relocation Tour, we take you to several pharmacies so you can check the availability and price of your prescriptions.

4. Unscrupulous real estate agent – Most agents in Panama are honest and ethical. But some do what’s called a net listing where they charge more for a house than it is worth either for houses for sale or a house for rent.  Just this week a couple was shown the same house with three different prices by three different real estate agents.  Another lady was quoted a sales price of $100,000 more than the seller was really asking.  When things like this happen, people feel like they have been taken advantage of (which they have) then leave Panama in disgust.    Some people have had a bad experience with a builder.  Or they bought land then discovered later that they could not build on it even though the agent told them they could.  Unlike North America, Panama does not have a widely used MLS (multiple listing service) in Panama so it’s impossible to get a good comparative market analysis on a property to know the “right” price to pay.   I have a file full of testimonials of people who have run into all these kinds of problems. Keep in mind these unscrupulous things can happen anywhere in the world, they are not exclusive to Panama.

5. Next Adventure – many expats are adventurous people.  They like to live in one place for a few years then move to another country for a few years so they can experience their next adventure.

6. Language barrier – Even though English is spoken a lot in some areas in Panama, English is not spoken everywhere in Panama.  The official language in Panama is Spanish.   Some people leave Panama because they get frustrated with not being able to communicate with everyone or not being able to hear English everywhere they go.

7. Cultural differences -almost everything you do in Panama will be done in a different way.  Something as simple as opening a bank account can take days if you don’t know the right way to open an account in Panama.  Repair people might not show up on time.  The frustrations are enough to cause some people to leave Panama.  If you move to the wrong rental, you could get stuck next to people who have barking dogs, who love to party until the wee hours of the morning, or who own roosters who make noise all day.

8.  Politics – some people move to Panama because their candidate did not win the election.  Once their party gets back in power, they leave Panama. (note, it’s better to move to Panama because you want to experience Panama, not because you are running away from something)

9.  Money problems – it’s very hard for a foreigner to get a job in Panama. If people can’t find a job and their money runs out, they leave Panama.  Even retirees leave Panama because of money problems because an unexpected expense comes up that they cannot afford because they have not saved some of their income every month.

10. Crime – some people move away because there was an increase in crime in the town/area where they live. It makes them uncomfortable, especially if the crime happened close to their home.

11.  one more – the pandemic – some expats left Panama on a humanitarian flight during the pandemic. They did not like the rules, regulations, and lockdowns that Panama implemented.

Some people made some very costly mistakes when they moved to Panama.   It created such bad feelings about Panama that they moved away.   Don’t let that happen to you!!

Before you sell everything you own then move to Panama, it’s a good idea to come to visit first.  To avoid costly mistakes, before you move to Panama, you need to get a thorough education about what life is like in Panama, how to get things done, and who you can trust.  Do your research.  You may want to join us for a 6-day all-inclusive Panama Relocation Tour or for a Private Tour of the areas you are most interested in.  Then, after visiting Panama, you may want to give Panama a 3-6 month test drive before you make the final decision to relocate to Panama. When you move to Panama, rent a furnished house/condo for at least a year before you make a buying decision.  Many people decide to just rent the whole time they live in Panama so they have the flexibility to leave whenever they want to.

Our Online Panama Relocation Guide has all the information you need to know to have a smooth, easy relocation to Panama.  If you follow the advice in the Online Panama Relocation Guide, you will be able to avoid mistakes that could cost you tens of thousands of dollars.   The Online Guide has recommendations for reliable immigration lawyers, honest real estate agents, buying health insurance for 40% less, buying a car, getting pets in to Panama, and much more.

CLICK HERE to Learn More About the Online Panama Relocation Guide

Watch this video to learn what Queen Victoria Kavanaugh has to say about the Online Panama Relocation Guide.

Filed Under: Living in Panama Tagged With: expats in Panama, move to Panama, Panama Relocation Tours, retire in panama, Why do people leave Panama

Renting in Panama- The Do’s and Do Not’s from a Pro

Last Updated on September 28, 2020 - by Jackie Lange

Renting in Panama- The Do’s and Do Not’s from a Pro

elaine hayes panamaWith so many people planning to move to Panama and looking for a rental, I thought you could use some advise from a pro!  So, I asked my friend Elaine Hayes to write an article about renting in Panama.  She has lived in Panama five years and moved TEN times.  She’s uniquely qualified to advise you about what to do and what not to do too. She and her husband Don have made every mistake in the book.  Read this article and follow her advise to avoid making costly mistakes. 

Hello! Let me introduce myself. My name is Elaine and my husband Don and I decided to retire in Panama in 2015. Before I begin, I want to stress to you that we will always live in Panama. For us, it is the best place on earth and there are wonderful places to live where you will be so happy and retire in paradise! But this article is letting you know the mistakes we have made, so hopefully we can prevent others from making the same. I have lived in some great places and made a lot of mistakes! Don and I have moved 10 times in 5 years. We are pro’s at moving! So here is my story:

I always prided myself on doing my research. I researched the entire world when it came to deciding where to retire. I researched where other expats lived, the money exchange, the crime, the weather, the language. We picked Panama because it checked out all the boxes and we have never regretted our decision. But one thing I did not research was how to go about renting a place in a foreign country. It’s something so new to most expats. For instance, most of the rental places for expats here are furnished. Completely furnished, with everything you will need just to move in with your clothes. A rental will come with kitchen appliances; pots, pans, silverware, plates, bowls. It will be equipped with towels and bedding. You will have a TV and may have a washer and dryer included. Most of us have owned homes in the countries that we have lived in, or if we have rented, we knew the ins and outs of what to do and not to do. But doing all of that in another country is different. So, I am here to gladly tell you my story. I can help you with your research. Panama is a wonderful country to live in, and renting is definitely the key. You can always buy a house or apartment once you get the lay of the land. But renting is the only way to go when you first arrive. So here are some “dos and don’ts” that I have learned from experience! I will give you a list first, and then explain in the next paragraphs some of our specific experiences!

panama city panama rental 850-GO AND INSPECT THE PLACE THAT YOU ARE GOING TO BE LIVING. INSPECT EVERYTHING YOURSELF, DO NOT RELY ON THE LANDLORD TO TELL YOU THINGS ABOUT THE HOUSE (DO NOT ASSUME ANYTHING). DON’T RENT A PLACE BY JUST RELYING ON THE INTERNET PHOTOS.

–ASK AND VERIFY – MAKE A LIST OF WHAT IS IMPORTANT TO YOU – HOT WATER IN THE KITCHEN, WASHER AND OR DRYER, HOT WATER ON DEMAND. ALSO DECIDE WHAT YOU CONSIDER YOUR “DEAL BREAKERS”. VIEWS, WALKING DISTANCE TO STORES AND RESTAURANTS? YOU NEED TO PERSONALLY CHECK THE HOUSE AND THE SURROUNDINGS OUT FOR YOURSELF!).

–CHECK OUT THE NEIGHBORHOOD – (ARE THERE BARKING DOGS AND CHICKENS CLOSE BY? IS THERE TIMES WHERE THE AREA YOU LIVE IN ARE GOING TO BE LOUDER AT TIMES THAN OTHERS?)

–DOES A GARDNER COME WITH THE RENTAL? HOW OFTEN DOES HE COME – (SOME PLACES HAVE SOMEONE COME A FEW TIMES A MONTH, AND SOME COME A FEW TIMES A YEAR.)

panama rental playa uverito–WHAT UTILITIES ARE INCLUDED IN THE RENT, AND WHAT TV/INTERNET SERVICE IS AVAILABLE IN THE RENTAL?

–TALK TO NEIGHBORS. SEE HOW THEY LIKE THE NEIGHBORHOOD. GET THEIR ADVICE.

-DEPENDING ON WHERE YOU CHOOSE TO LIVE IN PANAMA, THE LOCATION OF THE SUNRISE/SUNSET MAY BE VERY IMPORTANT. LIVING ON THE OCEAN IS WONDERFUL, BUT BE AWARE WHERE THE AFTERNOON SUN WILL BE IN YOUR RENTAL. DO YOU WANT THE SUN TO BE BEATING DOWN IN YOUR LIVING ROOM? ARE THERE BLACK OUT CURTAINS THAT YOU CAN SHUT WHEN THE SUN IS AT ITS HOTTEST? WHEN YOUR LIVING ROOM GETS TO BE A SAUNA, WHERE THE SUN IS LOCATED AT WHAT TIME BECOMES VERY IMPORTANT.

–REALIZE WHEN YOU BUY SOMETHING, YOU WILL HAVE TO MOVE IT. BUYING AN OUTDOOR GRILL IS WONDERFUL. BUT JUST KNOW THAT WHEN YOU HAVE TO MOVE, YOU WILL HAVE TO MOVE YOUR GRILL AS WELL. YOU WILL BE SURPRISED HOW MUCH YOU ACCUMULATE.

Don’t Do This!

fuzzy house panama
The Fuzzy House

Now for the story of what Don and I did when we were still in the States. I was scrolling the internet and saw a cute house that was close to the town we wanted to live in. The pictures looked so nice, and the location seemed perfect! It was a fellow expat that owned it, so naturally I trusted him with no questions asked. He wanted first month, last month rent with a security deposit. He was willing to sign a 3-month lease. That appealed to my husband and I. If we didn’t like it, we had 3 months to find another house or apartment! We sent him the money using a wire transfer, and we were set! We sold everything we owned, kept 5 suitcases and a chihuahua to take with us, and off we went to start our new adventure! [Read more…]

Filed Under: Living in Panama Tagged With: find rental in panama, living in panama, move to Panama, rentals in Panama, renting in Panama

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