Legal fees for buying a property in Panama vary depending on the type of property and the attorney firm you choose.
Legal fees for property purchase/sale are typically 3 to 10% of the property's sale price. They are usually divided equally (50%) between the buyer and seller unless otherwise specified in the "Promise to Purchase/Sale Agreement." The seller covers the real estate agent's commission fees.
Usually, it takes one week to register a property title transfer in the Public Registry of Panama, but with an extra fee, it can be done in two days. A right of Possession transfer can be completed on the same day at the regional office.
In Bocas del Toro region, legal fees are very reasonable.
Note: Please consult your attorney for the latest legal updates or any changes to the information provided in this article.
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