Nicaragua 🇳🇮 Real Estate is All About Patience
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- เผยแพร่เมื่อ 16 ก.ย. 2024
- When it comes to #Nicaragua #realestate nothing matters more than taking your time and having patience. Every step of the process takes a lot of time and trying to rush things will almost certainly end badly. #expat
23 February 2024
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Last nite chat was a good one. Like people starting to chat between forming a living in Nicaragua community
Patience, being part of the communities you want to live in, then more patience and building trust and friendships. I was offered opportunities, but I have never been interested in owning anything there.. I am interested in spending time there as a guest and thanks to Scott's model, try to provide some good job opportunities for Nicaraguans.Any ideas or advice appreciated?!
Some people simply have to learn the hard way.
Thanks!
That happens a lot in Spain as well.
Scott, based on your extensive experience and insights into Nicaraguan life, I'm curious: What's the typical range of lawyer fees, in US dollars, one can expect throughout the entire process of purchasing a property, considering your own experiences, interactions with friends, and observations?
Yup. Spot on. That's why i came.
Thanks for the information, as usual, Scott. I've been reading about cases where Mexico has seized the property of expats, usually because of questionable land titles. There have been cases where the deeds people had were not valid because the person who sold them the property was sued by someone who had a better claim. Things like that. Some of the people had used a layer, but still lost their property. Is that something that people buying property (after doing their due diligence as you recommend) have to worry about?
In that example, Mexico isn't seizing propery in that sense. They are recognizing that the expat is squatting illegally on land owned by someone else. Same thing would happen in the US or Canada. If you don't actually buy the land, but pay someone who lies to you about it gives you a fake deed, the REAL owner had better be able to take it back. That will happen anywhere in the world.
The problem in many places is that expats often don't put in the time to check the land or don't hire good lawyers. I know it happens in Nicaragua, but I'm unaware of it happening to anyone who did their proper process. It's always people going to real estate agents and not having a proper lawyer and normally trying to buy from abroad (and people avoiding the lease system.) It's predictable.
When people do what they are supposed to do, I've never heard of it being a risk as there is a way to make sure you are getting the real deed. But when people don't and they lose their investment, no one wants to admit that they got scammed. So they call it a land seizure to get sympathy from people in other countries that can't follow up on it. Makes them sound like victims rather than really just having been lazy and entitled.
It goes without saying that nobody should ever consider purchasing real estate without becoming personally familiar with an area [as well as have the correct professionals in place], but I wanted to present an alternative point of view to your contention that one should never consider purchasing/building a home when moving to a new area [as opposed to renting for a year or two (or more)] PERIOD…a view widely held, and one that makes a great deal of sense in many cases, but not all.**
**Assuming you have done your homework, become familiar with the region and understand the fundamental nature of the Nicaraguan real estate market.
I am going to be retiring in Nicaragua which places people such as myself in a different position than some others. I will only speak for myself, but I believe many of the ideas I present are commonly held, as well.
First off, when one is approaching traditional retirement age [I am close to 70], how much time is one going to allow for acclimation to a new area? After all, you only have so much time left, right? :)
[Hopefully] someone contemplating retirement has had the opportunity [through their life experience] to understand what they might be looking for in a retirement setting, that is, do you want to rent, own, live in-town, out in the country, the mountains, the beach, near other expats, etc.?
Most importantly, when you reach a certain age, many people find what’s most important lies within. In other words, there is little need to be entertained externally [or certainly, not as much].
What one does with their time becomes quite personal and therefore an external environment, although important, can be much less so. As well, material needs seem to have an inverse relationship with time.
My life is simple, so I believe that having a modest home in a peaceful environment will create a sturdy foundation in order to build contentment. Being that there are people pretty much everywhere, one can seek companionship/friendship or give of one’s time as one sees fit. There seems to be no lack of opportunity to serve others throughout Nicaragua.
In the end, we all bring our happiness [or troubles] with us. I feel quite comfortable that I have found an area that will work really well for me. If for some reason it does not, then it will be the person staring at me in the mirror who is at fault. In this case, you correct the error and never look back.
Could such a moscalculation be potentially mitigated by renting for a few years, sure, but to give up what you might gain [in creating a permanent home] in order to “play it safe” has never been my way. The key is, of course, do whatever you can to prepare the way.
With such a beautiful landscape, incredibly nice people, and access to nearly everything anybody could need, Nicaragua seems to offer [those who can see it] sanctuary from the craziness of a world gone somewhat off the tracks.
Thank you, Scott, for your deeply thought-out contributions to those seeking sanctuary from the gathering storm. Your thoughtfulness, context, and wisdom are deeply appreciated!
It's good info, but I think there are factors missed. Retirees are at a life change moment and especially at risk for not having "discovered" what their next phase is going to be like. And retirees have less time tolerance for getting something wrong. A tiny mistake in location or structure can be far more crippling than for someone with more time to work through problems. I'd really say as a retiree, renting is far more important than with the pre-retirement population.
I get the problem... less time to enjoy a home. BUt that also dramatically lowers the value of buying in general and promotes renting... potentially forever.
When you say repartos what does this mean?
every Latin country defines them uniquely. Here is how Nicaragua uses them...
th-cam.com/video/LdwDXWtcf9w/w-d-xo.html