PURCHASING - an overview of what is involved.

After visiting the website and satisfying yourself that you have adequate information,submit your lot reservation to the developer Ron Mooney.Ron can be contacted via email at RonM@BocasIslands.com or by Telephone at 011 507 757 9229,

After you have viewed and decided to buy and which lot you would like then.....

We will prepare an Offer & Acceptance contract . After you've looked at it,sign and return,together with an earnest deposit of US$13,000 for each lot. From your date of signing you have thirty (30) days in which to complete the purchase.

On receipt of this deposit our lawyer will commence the paperwork to transfer the property to you..The documentation is in both Spanish and English.This process normally takes one month,once finished you will be advised to forward the balance of the purchase price .On receipt you will receive the stock certificates,survey of your lot and copies of the ownership documents to the property.

Owner Financing......If you are taking owner financing then you complete a lease to purchase agreement with above stage taking place when the lease/purchase agreement becomes a purchase contract.

The completion documents include the following copies

Certificate of incorporation of Panamanian Corporation

Share Certificates

Corporate Ownership documentation for Island Property

Official Survey Map of your Property

Documents are in Spanish with certified English translation.

The ownership documents are registered both the local authorities and the Land Registry in Panama City

Copies of all documentation are retained by the Lawyer as they will be required for planning permission for your house.With you being given the originals.

At closing you will be required to pay the full balance due.(unless financing) .......As a matter of interest when you come to sell/transfer the lot or house and lot,you just sell/transfer the shares in the Panama company....very simple.

If you have any purchase questions then email Ron Mooney at RonM@BocasIslands.com

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