Some questions about buying a beach front lot in Nicaragua.

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Mr. Din

New Member
I was just in Nicaragua looking at a few beach front lots that are for sale. We have been working with a local real estate agent out of Leon. My questions are the real estate agent says he can have someone do research on the land back till 1986 and title insurance would cost around $5000. The lot we are looking cost only 70,000$. Does the price of the title insurance sound about right for that piece of land? From what I have been seeing on the internet people say title insurance cost $2000 or less. Also they say when they do the research on the land it is up till year 1986 and everything is free and clear ,would it be a problem? From what the real estate agent told me is in 1986 the GOVT gave the land to the owner and now the owner wants to sell. If the title search comes back free and clear would it be even worth it to spend money on title insurance? Thanks in advance.
 
revealrealestate

revealrealestate

New Member
Some suggestions:
- Choose your own independent lawyer. Don't just use the lawyer the real estate agent (or vendor) suggests.
- Title searches In Nicaragua should go back much further than 1986. In addition with beachfront property your lawyer will need to advise you whether the new coastal law 50m setback will affect how you can use the property.
- Title insurance fees are determined by the value of the land you would like to be insured. Get a second opinion. I would suggest contacting First American Title Insurance Company. Title insurance is always a good idea because it requires your lawyer to follow some specific steps when it comes to their due diligence work, that they otherwise may not.
 
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SelenaJ

New Member
Hi All,

I was looking today at property in the Dominican Republic. There were properties for very cheap? Do you own the land as well as the property there? Are the flights reasonable from Europe? Is Caribbean property worth thr money or does it depreciate with the climate?

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Gabyyy

New Member
My advice to you is to use internet just to get familiar with the situation in Nicaragua. All the major decisions regarding real estate purchases you should make after consulting with local, experienced and reputable lawyer. Try to find the good one based on recommendations given by his or her former clients. Lot of info on the net is promotional and paid for; consequently it may not be the best.
 
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