Purchasing Property in Panama Made Easy

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At Jon Starks Properties, we strive to make purchasing property in Panama a straightforward, transparent, and stress-free experience. Whether you are relocating permanently, purchasing a vacation home, or investing in real estate, our experienced team will guide you through every step of the process.

First. Can foreigners/non-residents purchase property in Panama? Yes. Article 291 of the Constitution of Panama allows foreigners/non-residents to: 

• Purchase titled land

• Purchase houses and condominiums

• Hold title personally or through a Panamanian corporation

• Sell, transfer, mortgage, or inherit property

• Buy property without obtaining residency or citizenship

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Step 1: Find the Right Property

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Contact Jon Starks Properties directly or work through a reputable, licensed Panamanian real estate professional (click here). We will help you identify one of properties that best aligns with your lifestyle, retirement, relocation, or investment goals.

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Step 2: Engage a Trusted Attorney
 

Once you have selected a property, it is essential to retain a qualified Panamanian attorney to conduct due diligence and protect your interests throughout the transaction. While Panama has many highly competent legal professionals, the legal profession is regulated differently than in many Western countries. For this reason, selecting an experienced and trusted attorney is one of the most important decisions you will make during the purchasing process. You may use your own attorney or work with one of our trusted legal partner, Meyvis Sanchez, who has extensive experience in Panamanian real estate transactions.

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The attorney will typically:

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• Verify legal ownership of the property

• Conduct title and lien searches

• Review zoning and land-use restrictions

• Confirm property boundaries and surveys

• Prepare and review all legal documentation

• Facilitate the transfer of ownership

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Step 3: Confirm the Terms of Sale
 

Collectively, will agree upon all key terms of the transaction, including:

• Final purchase price

• Deposit requirements

• Financing arrangements (if applicable)

• Included fixtures and furnishings

• Possession and closing dates

• Any additional conditions or contingencies

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Step 4: Sign the Promise to Purchase Agreement
 

In Panama, a "Promise to Purchase" agreement is commonly used and forms an important part of the transaction process. This legally binding document outlines the terms and conditions agreed upon by both parties and establishes the framework for the final sale.

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Step 5: Due Diligence and Deposit
 

Following execution of the agreement, your attorney will complete the necessary due diligence while any required deposit is placed in accordance with the terms of the contract. During this period, all legal and administrative requirements are verified before closing.

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Step 6: Closing and Transfer of Ownership
 

Once all conditions have been satisfied, the final sale documents are signed and submitted to the appropriate government authorities. Funds are transferred, ownership is officially registered, and possession of the property is transferred to the new owner.

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Step 7: Welcome to Panama
 

Congratulations! You are now the owner of property in one of Latin America's most desirable destinations for retirement, relocation, and investment. Our team remains available to assist with property management, construction, relocation services, and local support as you begin your new chapter in Panama.