The process of purchasing property as a foreigner in Nicaragua is not the same as in North America. For starters, there’s no multiple listing service or easy access to public records on recent sales prices.
Hiring a local attorney is critical in order to check the title history, ensure there are no liens or encumbrances on the property and to register the title in the local registry. Miss one step and the consequences could prove costly and time consuming to resolve.
In an exclusive interview with Eduardo Cabrales Cuadra, managing partner with Garcia & Bodan Law Firm, Eduardo explains the key steps to purchasing real estate in Nicaragua.
Understanding the process of purchasing property in Nicaragua is critical
In this video Eduardo breaks down the five key steps to purchasing property: (i) private sales agreement, (ii) designation of a third-party to escrow the funds, (iii) legal due diligence by an independent attorney, (iv) closing and finally (v) title registration.
The 4 Steps of Title Research
In this video, Eduardo dives further into the details of the title research process for property investigation. These 4 critical steps of the title research process could impact your ownership rights, uncover potential conflicts of interest and ultimately save you a lot of time and money. Have a look at his exclusive interview below.
Pair these videos with the answers to frequently asked questions in our Buyer’s Learning Center.
Next step: Sign up for our Free Insider Tips Series for Nicaragua Real Estate Investors. And track the most up-to-date real estate listings in Nicaragua on our owner updated real estate marketplace.
Article originally published on San Juan Live http://sanjuandelsur.org.