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I just got a verbal ok to an offer of $400,000 for a house in Panama. I’m meeting the seller at 1 tomorrow to sign the agreement. Anyone, even non licences people, can get paid a commission here in Panama, so My offer includes an 10% commission and close by the end of September
I already have a cash buyer ready to go!
It’s the rainy season in Panama. So there are fewer buyers and it is a great time to swoop in to get deals.
December – March are the high season and it is harder to find motivated sellers.
The real estate agents here do not know anything about marketing or creative deals. They just sit in the office waiting for someone to walk in.
There is no MLS so they can only show their listings.
Some sellers do an open listing where they agree to pay a commission to anyone… anyone… who will bring a buyer.
That leaves a lot of great opportunity for me!
I really did not plan to do much real estate investing in Panama other that acquiring rental properties. But sometimes the opportunities are so good you just have to jump in.
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