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Sfera Panama
Sfera: Majestic residential apartments located at Avenida Balboa, between the streets October 12 and...
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Spirit Towers
Spirit is an innovative office tower located on Balboa avenue, the best area of Panama...
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Real Estate Preconstruction FAQ |
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Preconstruction Real Estate Questions and AnswersShould a buyer use the services of a realtor when purchasing pre
construction properties?
Yes, a realtor has relationships with developers that can be quite
beneficial to the buyer. He/she can negotiate the terms of the
contract for you and advise you on the best course of action depending
on your needs; (the developer may not since it?s not always in their
best interest to do so), the realtor may know some vital information
regarding the financial status of the developer. The realtor is also
in a position to inform you when new pre construction opportunities
arise before they are even made public. This means the buyer may have
an exclusive opportunity to get in on the ground floor of pre
construction prices. Your realtor will find out information about the
pricing in similar buildings being built in the neighborhood along
with information about civic and cultural developments. Furthermore
the developer compensates the realtor, so in effect you are getting
the services of the realtor for free. Since the purchase price of the
property is the same with or without a realtor it makes sense to have
a person who is not just a real estate agent advise you, but a real
estate consultant.
What it the PRE SALE REQUIREMENT?
Most construction lenders (Banks)require to the developer to sell 50%
of the building in order to give them the loan. Pre-selling of
buildings and resort condominiums has become a standard process, and
virtually every condominium is pre-sold today. Once the required
pre-sales have been reached and construction has begun it is a sure
sign of a successful development.
As a purchaser what protection do I have buying a pre-sale?
While I can't speak for every location in the country, here in Florida
the purchaser of a pre-sale condominium is protected in several ways.
The most important protection under Florida law is your money or
deposit is held in escrow until the condominium is completed and only
released at a proper real estate closing where the unit is transferred
to you unless the developer specifically indicates in the contract
that a portion on the deposits will be used for construction.
What is a Public Offering Statement?
A Public Offering Statement includes condominium documents,
association by-laws, and the pre-construction purchase and escrow
agreement. Under Florida law, purchasers have fifteen (15) days from
receipt to review and complete or rescind any pre-sale purchase and
escrow agreement.
Why buy a pre-sale when I can buy one already completed?
Two basic reasons:
(1) Limited location and availability.
(2) By purchasing at pre-sale you are able to buy at a reduced price,
and coupling this with the appreciative expectations upon completion
makes it a very wise investment.
Many people have purchased pre-sales for reason number 2, and many of
these people have sold their units even before the building is
completed.
How much money do I need to contract a pre-sale condominium?
Usually 20% down. 10% at contract and 10% at ground breaking
Can I sell my pre-sale purchase before completion?
Yes you can with a written permission from the developer
Thank your for your time, and we look forward to a long and profitable
relationship with all of our clients.
For more information on upcoming pre construction projects and how to
invest in them, please feel free to contact us .
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Costa del Este - Panama,
Costa del Este - Panama,
Costa del Este - Panama,
Essenza,
Essenza,
Essenza,
Essenza Panama,
Essenza Panama,
Essenza Panama,
Newsflash,
Newsflash,
Newsflash,
Newsflashes,
Newsflashes,
Newsflashes,
Essenza is the Best project in Costa del Este, Panama.
See the project details Luxury residences starting at 200's PRE OPENING PRICES WONT LAST ! CALL NOW FOR VIP SALES 1-800-379-3079 |
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March 6, 2008 Real Estate Is Going South — In This Case Straight To Panama By MARILYN ALVA
A Florida developer is making hay while the Sunshine State wilts in cloudy weather. Todd Gates has headed from Naples, Fla., to Panama, where real estate market conditions are presently much sunnier. This sliver of a nation south of Costa Rica links Central America to South America. It has coastlines on the Atlantic and Pacific and lush mountains in between. Here, Gates has found his idyll: a revenue base not tied to boom-and-bust Florida. Panama is where he's now developing resorts, commercial buildings and residential areas worth $25 million to $500 million each. "I spent two years visiting every Caribbean island and Central American country," Gates said. "Panama had exactly what I was looking for." Gates liked that the service-based economy, growing nearly 9% a year, wasn't tourism-centric but diversified with banking, commerce and shipping. Panama is home to the world's second biggest free-trade zone. The $5.2 billion expansion of the Panama Canal should help keep the economy pumping. |
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Donald Trump is ready to roll out THE BAY LOFTS
at Trump Ocean Club starting at $400.000,00 These are very exclusive units at TRUMP OCEAN CLUB and they come fully furnished and will be available for LONG TERM RENTALS. CALL NOW FOR THE LAST 10 UNITS AT GROUND BREAKING PRICES!
For more information just call 1-800-379-3079 |
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Preconstruction Real Estate ? 
