Investigate your Panamanian Real Estate Company

Panamanian Real Estate CompanyUnfortunately in Panama there are a lot of scam Real Estate companies, so you need to investigate your Panamanian Real Estate Company. While it’s law to have a Real Estate license, there are many locals who don’t get one, and I’m sure even the scammy expats do the same thing.

Here is a government agency that will tell you if your real estate company has had problems:

The Technical Board of Real Estate is within the Department of Commerce and Industry: Ministerio De Comercio Y Industrias
Junta Tecnica de Bienes Raices
Avenida Ricardo J. Alfaro, Plaza Edison, Pizo 2
Tel: 560-0600 Ext.:2430

I have no idea if they even keep accurate records, or get many complaints, but at least it is a start, as you do NOT want to get scammed while buying land or property in Panama. Way too many expats get scammed into real estate. This is a story I have heard many times when I was living in Panama. Even upto the last month I was in Panama I continued to hear stories about fraud. The last story I heard was about an expat who ripped off a couple.

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