Buying Real Estate in Nicaragua

Posted by Mike Cobb on Jul 10, 2012 5:32:54 PM

Central America is fast developing into a hotspot for tourism and real estate investments. The growing economies, global audiences, stable governments and favorable local taxes have played an important role in the growing popularity of these nations. Investing in Nicaragua real estate is a great option as the country has something to offer to everyone.

Popular Locations to Buy Homes in Nicaragua

When it comes to Nicaragua homes, buyers have a wide range of options from properties in coastal regions to old historic cities. The country located on the north of Costa Rica is fast becoming a major tourist destination. With regards to Nicaragua real estate, Managua, the country's capital, is attracting a lot of attention from investors. The capital city is located on the shores of Lake Managua, giving developers the option of building homes close to water sports and leisure facilities.

Granada and Leon are the other two cities in Nicaragua that have a lot to offer in terms of real estate . Granada features colonial style buildings that are very Spanish in nature. The city is rich with expats, making it very cosmopolitan as well. Leon is regarded as the intellectual center of the country with colleges, universities and other centers for learning all around the city. It even features cathedrals and churches that enhance spiritual learning.

Outside the main cities, the coastal regions are a great attraction. The country has coastlines on the Caribbean Sea and the Pacific Ocean. On the Caribbean coast, a majority of the towns are fishing ports and small trading towns, which are still not touched by modern life.

The Pacific coastline hosts numerous tourist resorts that are targeted primarily at visitors from overseas. These properties overlook beautiful beaches and sceneries. Among all, San Juan Del Sur is extremely popular and attracts surfers and families to its stunning beaches.

 The Buying Process

Buying homes or any kind or property in Nicaragua is quite a straightforward process, which is usually completed in around two months. The process begins with the offer being formally accepted and a deposit being paid to the seller. This deposit is usually non-refundable. The next step is preparation for a formal registration of the sale.

A lawyer executes the search and ensures that the registration is done as per the law. It is vital for the seller to present tax registration, deeds and relevant paperwork. It is also the buyer’s responsibility to prepare to transfer the required funds to the seller. While this happens, the lawyer arranges for the property to be registered in the new owner's names. At this time, the buyer is required to pay government taxes as well.

It is vital to look for a lawyer who is certified and has a good reputation. Establishing a healthy relationship with your lawyer is ideal as it will smoothen the entire process. It is important to get the boundaries of homes or properties checked before purchasing it.

 

Mike Cobb

Written by Mike Cobb

With proven experience in international real estate development, Mike Cobb is a time-tested Industry Sage, expert and entrepreneur with a passion for helping consumers achieve a high-quality retirement.

Topics: Real Estate in Nicaragua