Search Results for: climate

Last Updated Feb 10, 2020 - by Jackie Lange

Beware of NET Listings in Panama

In Panama, some things are done in a different way than you are familiar with. A good example are real estate sales and rental listings. In Panama, it’s common to see the same house listed at several different prices with different agents. Sometimes the “spread” can be as much as $100,000 difference for the same house!

In North America, most houses for sale are listed as an exclusive listing. This means that one real estate office as the exclusive right to market the property. If that same office finds a buyer, they will typically make about a 6% commission. If an agent from a different office produces a qualified buyer, the “listing” agent will usually agree to split the 6% commission. In North America, a real estate agent has a fiduciary responsibility to the seller/buyer so all the dealings for the transaction are revealed “on top of the table.”

There are some exclusive listings in Panama too. But most listings are NOT exclusive. Instead, the seller has agreed to pay a commission to whoever produces a qualified buyer. This is why you will see the same house listed with several different office and at different prices. A typical commission in Panama is 5-6% of the sales price.

But sometimes, the seller has told the agent(s) that they need to NET a certain amount at closing and anything the agent can sell it for over that amount will be there profit. This is called a net listing. Net listings are illegal in most of North America, but it is business as usual in Panama. Here’s an example:

Joe and Mary need to walk away with $150,000 on the sale of their property. Real estate agent Sue advertises it for $220,000 – with room for negotiations, she’s hoping it will sell for $200,000 so she can walk away with a $50,000 commission versus the $12,000 commission she would have earned at 6%.

Maybe $200,000 is the right price for the house. But perhaps $150,000 is the right price. It’s hard to know in Panama because there is not a reliable MLS system to show comps of recent sales in the area. We do have an MLS system but most agents don’t use it and that’s why it’s not reliable.

Last year, I had breakfast with the broker for a local real estate office. He was bragging about how me made $600,000 profit on a NET listing near Boquete.

HOW WIDESPREAD IS THE PROBLEM? [Read more…]

Last Updated Sep 1, 2019 - by Jackie Lange

Caring for Your Pet in Panama

There’s a process, but it’s easy to bring your fur babies with you when you move to Panama. Each airline has different pet policies. Find the airline that has the most friendly pet policy for your type pet then book your flight and your pets flight at least 2-3 months in advance. Then, make sure your pet is up to day on their vaccinations. Thirty days before you move to Panama, you will need to get an international health certificate issued by a vet who is certified to issue them. The next step is getting the health certificate authenticated by the agriculture department then another authentication from the Panama Consulate in your country. Simultaneously, you’ll need to get authorization to bring your pets in to Panama and get a home quarantine certificate. Don’t worry, during a Panama Relocation Tours we will give you all the details about reliable contacts who can help with the entire process of getting your pets in to Panama in the most affordable and safe way. It’s approximately $500 – $600 per pet to bring them in to Panama. This price includes airfare, vet certifications, and authentications in both countries. It’s a simple process to bring your pets in to Panama. There is no need to hire a pet relocation company who will charge about $3000 per pet.

PET CARE IN PANAMA

Once your pets get to Panama, now what? What kind of care can you expect? What food is available? Will you be able to still spoil your little prince or princess in the matter that they are accustomed? The answer is absolutely!

Panama has veterinarians that are as highly trained as they are in the country where you originate. Some vets speak perfect English but some don’t. You can get recommendations from fellow expats about which vet they use. All of the vets here that I have encountered are not only knowledgeable but have the latest technological equipment and services available. So if you are bringing your little fur kids in for an annual checkup, or a more serious procedure, you can rest assured that “Sir Barksalot” or “Miss Whiskers” will get the best possible care in Panama!
[Read more…]

Last Updated Aug 15, 2019 - by Jackie Lange

What’s Your Plan B: Safety Insurance

There are three kinds of people who come on a Panama Relocation Tour: (1) Those who are ready to relocate to Panama and are looking for an affordable place to live for their next adventure, (2) Those who are investigating places to retire later, and (3)those who want to have a Plan B just in case they need to leave their country later. Today, I’m going to write about the Plan B group.

I have not watched the news in several years. Instead, I get my news from people from all over the world who come on a Panama Relocation Tour every month. Friends and family forward news articles to me too. What I’ve learned about what’s really going on around the world is a bit scary and it makes me ever so grateful that I live in Panama where there’s peace and everyone just gets along.

Sadly, other countries are not so lucky. This is what tour clients are reporting:

In South Africa and Zimbabwe, people are afraid to go to a grocery store or walk down the street unless they have a gun or a body guard to protect themselves. It’s dangerous to let their children go to school. It’s even dangerous to stop at a red light. South African farmers are murdered every day.

In Hong Kong, the protests are getting worse every day. I’ve been told by tour clients that a major revolution is coming soon there. All flights in to and out of Hong Kong have been cancelled.
[Read more…]

Last Updated Aug 30, 2019 - by Jackie Lange

Why David Panama Should Be On Your Radar

David is the capital of Chiriqui province which is in far western Panama, next to Costa Rica. It usually ties for the second largest city in Panama with a population of about 170,000.

David has a developed infrastructure yet a much lower cost of living than other places in Panama. Tour clients are renting furnished houses or condos in the $350 to $650 range in David. You can buy a new small house for as low as $50,000 in David

David has an international airport and a major bus terminal with connections throughout Central America. You can even catch a bus from David to the Caribbean side of Panama. With your Pensionado discount, it is only $10.60 to take a bus from David all the way to Panama City (a 7 hour drive) or go to San Jose Costa Rica.

There are two large private hospitals in David plus a large modern public hospital. Every specialist is available in David, including cardiologists. You are never more than 15 minutes away from a 24-hour hospital in David.

The city has several shopping centers and malls. In early 2020, the Federal Mall with 400 stores will open. There are two movie theaters with movies in both English and in Spanish (about $2 for a movie).

There are also countless restaurants (with air conditioning), bars and casinos around the city. American fast food restaurants are readily available in David too.

You’ll never be far from a 24-hour grocery store. There’s a daily farmers market with fresh fruits and vegetables. And there is an amazing fish market with fish that was just caught that morning. David has car dealerships, furniture stores, clothes stores, electronic stores, wine stores, gyms, office supplies, fabric stores and much more. [Read more…]

Last Updated Jun 7, 2019 - by Jackie Lange

Three Lessons on Retirement

Billy and Akaisha Kaderli have almost three decades of experience being retired even though they are only in their mid-60s. They both retired in their 30s to travel and experience the world. They are recognized retirement experts and internationally published authors on topics of finance, medical tourism and world travel. With the wealth of information they share on their award winning website RetireEarlyLifestyle.com, they have been helping people achieve their own retirement dreams since 1991. This “Three Lessons on Retirement” article is reprinted with permission. Read Billy and Akaisha’s advice about how to approach retirement:

Retirement is a great achievement, but it’s not static. It’s not like once you arrive you can forget about it and put it on auto-pilot. It’s an interactive manner of living that continues to respond to our input, the new skills we learn and how our goals modify. Hopefully we continue to grow and change, making our retirement sustainable and sweeter to live.

Below you will find three of our most effective lessons on retirement that will enrich you and increase your enjoyment along your path in financial freedom.

Control housing costs and you can live anywhere

This is a well-kept secret of retirement. The cost of housing is one of the largest financial outlays in anyone’s household no matter what age you are, and if you modify the price you pay for your residence, you have the financial freedom to virtually afford living anywhere in the world.

In other words, if you could save tens of thousands of dollars a year on mortgage payments or rent, insurance, maintenance and repairs, how would that affect your life? What if you could live in Paris or on a Caribbean island for free? You can do that, if you house sit. [Read more…]

Search Results for: climate

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