If you are thinking of investing in Panama, it is important that you make informed decisions to ensure the success of your investment. One of the most important decisions you will have to make is who to hire to help you with the process: should you hire a realtor or a lawyer?
In this article, we will explore the functions and responsibilities of each so that you can make an informed decision.
Realtor
A realtor is a licensed real estate professional who is responsible for buying, selling, or renting properties. Their main objective is to help you find the right property for your needs and advise you throughout the buying or renting process.
Among the responsibilities of a realtor are:
Evaluate your needs and preferences to find properties that fit your requirements
Perform market research and analysis to help you make informed decisions about the price and location of a property
Guide you through the bidding, negotiation, and transaction closing process.
Provide advice on property management, including finding tenants and property maintenance.
Lawyer
A lawyer, on the other hand, is a legal professional who is responsible for advising you on legal issues related to real estate investment. This may include reviewing contracts, conducting title searches, managing permits, and providing legal representation in disputes.
Among the responsibilities of a lawyer are:
Reviewing and drafting purchase and sale contracts to ensure that agreed-upon terms and conditions are met
Conducting title searches to ensure that the property is free of liens and other legal issues
Managing permits and legal requirements for the purchase of the property
Legally representing you in case of disputes, including litigation.
So, who should you hire?
The answer depends on your specific needs and the complexity of the transaction. If you're looking for a property in a well-known area and don't have significant legal concerns, a real estate agent may be sufficient to guide you through the process.
On the other hand, if you're purchasing a more complex property or in a less familiar area, or if you have specific legal concerns, a lawyer may be necessary to ensure that the transaction goes smoothly.
Ultimately, at Business Target Lawyers & Real Estate, we have realtor lawyers, that is, lawyers licensed in Real Estate, who can legally represent you and provide you with the best advice for your investment. This way, you can be sure that you are taking all the necessary precautions to protect your real estate investment in Panama.
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