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Buying Property in Nicaragua

The In's and Out's of Purchasing Real Estate in Nicaragua

Nicaragua is a country in fast development. In the last ten years it has changed a great deal and buying a real estate doesn't show any problems.

But the person who wants to purchase such a real estate property should take care when signing the final papers.

Anyone can buy properties as well as they can sell them, both urban and rural, the entire country is magnificent and should be a major consideration for all investors.

Before you buy or sell, please consult an attorney, because there can be major problems waiting for you. You must understand how things work in Nicaragua.

The country's past made things complicated and a large part of every production of goods from the factories and agriculture was controlled by the Sandinista government. This period of eleven years, from 1979 to1990, left behind many unsolved cases what concerns the properties.

There still exist houses and real estate properties which were confiscated from the original owner and remained unsolved. But the democratic government, in 1990, legally gave back most of the properties.

So, not all of the real estate properties are legally correct, this is why the buyer must secure the services of a serious attorney, he must find out if the investment has clear title.

In Nicaragua the construction, real estate and tourist industries are growing before the nation's eyes, this sector of economy is very important for the well-fare of the country.

Especially US residents come to invest because the prices are still low, if we compare them with US standards.

Investing in Nicaragua could be a very clever thing to do as long as you secure the services of competent attorneys.

To but a real estate you need plenty of documentation: property deed and property history for the last 25 years are very important to you, because here you can verify if the owner has all the correct papers and if he is in fact the real owner.

You will also need property map or survey, history of property tax payments year to date and the municipal tax payment history. All these files help you to see whether the owner has fulfilled all his legal payments and monetary obligations.

These are very important to you because, sure you want to avoid properties that have agrarian reform titles or supplemental titles issued by Court order. If one of these problems should occur, that means that the owner never really owned the property and that you have many documents to resolve.

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