Lic. Carlos G. Suncin Sarmiento
What are the real estate legal fees on a Titled / ROP property?
Legal fees for buying a property in Panama vary depending on the type of property and the attorney firm.
Titled property legal fees for the Purchase/Sale process usually are 4 to 10% based on the property sale price, which is generally shared between Buyer and Seller (50%) unless differently stated in the "Purchase/Sale Agreement." The Seller pays 5% sale taxes based on the property sale price indicated on the Title Transfer Contract (Deeds). In Bocas del Toro, legal fees are very reasonable.
ROP (Right Of Possession) properties' legal fees for a purchase/sale/transfer process are approximately $1,000us to $3,000us, usually shared between Buyer and Seller unless differently stated in the purchase sale agreement.
Note: Legals fees mentioned hereby are subject to change depending on Attorney Firms.