The Pre-Purchase Checklist for Playa Venao + Playa Raya Real Estate

How to use this checklist

Twenty-seven items. Work through them before you sign anything binding, even a reservation. If you cannot answer an item with confidence, that is the question to put to the seller or your attorney. Items marked critical are deal-killers if they fail; the others are signals to slow down. This is the same checklist we apply to our own projects. A printable PDF version: [to be added].

Deal-killers: if any apply, do not sign

• Right of Possession land is being sold as if it were titled.
• The seller refuses to provide a finca number.
• Pre-construction deposits are not held in escrow.
• You are pressured to wire money before due diligence is complete.
• The seller cannot name their Panamanian attorney.
• For pre-construction, building permits are "in progress" rather than issued.
• The price is 40% or more below comparable properties.

A. Title and ownership (7 items)

1. Finca number verified in the Public Registry (critical). Obtain a Public Registry certificate confirming the property exists and the seller is the registered owner.
2. Titled land, not Right of Possession (critical). No exceptions.
3. No liens, mortgages or encumbrances. Anything outstanding is cleared before closing.
4. No pending legal claims. Litigation, neighbour or boundary disputes.
5. Property tax is up to date. Unpaid tax follows the property.
6. Title matches what you are shown. Dimensions, boundaries and improvements.
7. Any mortgage being assumed is approved by the bank in writing.

B. Location and physical (5 items)

8. You have visited in person. Walk the lot; drive the road in the wet season if you can.
9. Road access is legal, by deeded right of way, not a neighbour's goodwill.
10. Utilities at the boundary, or a confirmed plan and budget for power, water, internet and sewage.
11. Environmental restrictions checked: coastal setbacks, protected zones, impact assessments.
12. Zoning allows your intended use, including rentals.

C. The seller and the structure (4 items)

13. Seller's identity verified (critical): ID or passport, and authority to sign if the seller is a company.
14. A corporate seller is in good standing, with no suspensions or missed filings.
15. Your own independent attorney (critical), not the developer's or the broker's.
16. Any power of attorney is properly formalised: apostilled if signed abroad and recently dated.

D. Pre-construction only (5 items; skip if turnkey)

17. Deposits held in escrow (critical), not paid directly to the developer.
18. Building permits issued, with verifiable permit numbers.
19. Construction contract reviewed by your attorney before the reservation.
20. Delivery date with consequences for delay: a penalty or refund right.
21. A developer track record you can verify: visit completed projects and talk to past buyers.

E. Money (3 items)

22. Total acquisition cost calculated: price plus 3–6% for taxes and closing costs. See taxes and closing costs.
23. Funding confirmed before the reservation: transfer route, account or financing approval.
24. Realistic annual carrying budget: 3–6% of the property value per year.

F. Rental and use (3 items; skip if not renting)

25. Local short-term rental rules checked: registration, taxes and permits.
26. Property management arranged: a specific company, contract and cost.
27. Realistic yield expectation: plan for 50–70% occupancy, not 85%. See rental income in Playa Venao.

What to do with this list

• Work through it before the reservation, not just before closing.
• Take it to viewings; half the items can be answered on the first visit.
• Take it to your attorney. A competent Panamanian real estate attorney will recognise it. If yours does not, find another.
• Critical items 1, 2, 13, 15 and 17: a "fail" on any of them is grounds to walk away.

Back to the Buyer's Guide.

Frequently asked questions

What should I check before buying property in Panama?

Above all: a verified finca number, titled land (not Right of Possession), your own attorney, escrow for deposits, and legal road access. The full 27-point list is above.

What is the biggest risk when buying property in Panama?

Buying land without verified title, especially Right of Possession land presented as titled. Always check the finca number in the Public Registry.

Do I need to visit before buying?

Yes. Roads, internet, neighbours and noise cannot be judged from photos.