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Real Estate in Nicaragua is good but how good?

International real estate investors in searchin the 1980s do not always have a clear
of the next big thing need to look towardstitle, and those that have agrarian reform
Nicaragua. But how good a place is it to buytitles or supplemental court ordered titles
property what are the facts for the forignshould probably be avoided. Once the buyer
buyer. I explore this regions benefits as ahas found a property, then the buyer or agent
place  to  buy  overseas  property.negotiates with the seller. After a price is
determined, the buyer places a non-refundable
International real estate investors in searchdeposit on the property from 5-15% of the
of the next big thing need to look towardsselling price. The buyer's lawyer will then
Nicaragua. Its western coast is on the edgecheck the title and it is a good idea to have
of a property boom and the region dubbed asa property inspection and survey done as
the safest place in South America is ripe forwell. The lawyer will request a Free of Lien
investors.document from the Public Registry Office,
which will show any impediment to sale as
A little known fact is that Nicaragua has onewell  as  the  name  of  the  real  owner.
of the strongest economies in Central America
and has made significant progress away fromIf the lawyer verifies the property title,
the turbulent 1980s. There are virtually nothen you can proceed to closing on the
barriers to foreign ownership of property andproperty. A new title, or Escritura, will be
there are many great deals to be had. Havingdrawn up with the owner as the new title
said that, a buyer should proceed withholder. The seller signs the deed and the
caution because practices are stillfinal payment is made, often in cash. After
underdeveloped.this, the buyer's lawyer will register the
property in the new owner's name. Upon
A buyer may use an agent, who can helpregistering the property there is a .5%
negotiate the price and will have a betterregistration fee and 4% transfer tax due.
understanding of the area. Agents fees areOnce the property is registered then the new
negotiable, but typically range from 5-10% ofowner  is  the  official  title  holder.
the selling price and are usually paid by the
buyer. Also, a local lawyer is a necessityForeign investment Law 344 assures that
when  researching  the  title.foreign and domestic investment receives the
same treatment. The law eliminates
Property prices are increasing internationalrestrictions on the way in which foreign
real estate investors have seen returnscapital can enter the country and recognizes
upwards of 60% on purchases in key 'hotspots'the investor's right to own property and
since 2000. Property prices have been risingestablish business enterprises as they wish.
by an average of 20% per year for the past100% foreign ownership is allowed - there is
four years and developments are springing upno  requirement  to  have  a  local  partner.
along the Pacific coast, in historical
Granada  and  the  Great  Lakes.The mix of healthy economy, low house prices
and a government bending over backwards to
Most properties in Nicaragua have reasonablyhelp you invest makes the region a very good
clear titles, but there are some that shouldplace for overseas buyers.
be avoided. Properties that were confiscated



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