Nicaragua Property
Nicaragua property tip # 1
Visit Nicaragua and do some traveling before you make up your mind regarding any particular piece of Nicaragua property. You may think that Granada/Leon/San Juan del Sur is the only places where you want to live, but after some off-the-beaten-track traveling many visitors realize that Nicaragua has more to offer than just a handful of already developed urban areas.
Nicaragua property tip # 2
Ask for advice from those who have gone before you. Perhaps you have fellow country men in Nicaragua or Central America that are willing to share their experiences regarding Nicaragua property with you? Nicaraguan real estate owners can also offer you a wealth of information and insight regarding the real estate situation in their home country. Always seek the advice of several independent sources and carefully weigh the information before you make any decisions.
Nicaragua property tip # 3
Find a reputable lawyer specializing in real estate, and preferably real estate transactions involving non-Nicaraguans. It is for instance very important that all documents are brought to a Nicaraguan notarius publicus. To find out what is “right” or “wrong” on your own can be really difficult in Nicaragua. Purchasing and owning Nicaragua property is not only a question of legal arrangements; politics, business customs and long-lasting Nicaraguan traditions must also be taken into account. As mentioned above, it can be a good idea to ask around among those who already own real estate in Nicaragua since they can recommend you a lawyer or tell you which ones to stay away from.
Nicaragua property tip # 4
Be patient and prepared to devote some time to asking around and visiting several brokers, lawyers and home owners. When you have found a great piece of Nicaragua property, always carry out a thorough investigation before you make a purchase.
- Make sure that the property actually comprises the exact area that you have been shown. Obtain a surveyor to survey the Nicaragua property and any surrounding properties before any purchase is made.
- Make sure that the seller has legal title to the Nicaragua property in question.
- Make sure that there are no unresolved disputes regarding the legal title.
- Make sure that the seller has a legal right to transfer the Nicaragua property.
- Make sure that the Nicaragua property does not come with a lien/mortgage.
- Make sure that there are no delinquent taxes.
- Make a thorough environmental due diligence assessment.
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