If you are interested in selling a property, take into consideration that the vast majority of buyers in the market may pursue the purchase through financing. Even for purchases without financing, where the buyer has its own funds to acquire a property, it is beneficial to have an appraisal. Given that it gives certainty and criteria to the price that is being requested for the property.
In case you want to sell or buy a property, we recommend you have an appraisal of it. No need to worry at,VICTOR CONSTANTE REAL ESTATE , we can help you.
The real estate market in Panama is very dynamic and always involves changes in supply and demand for the different properties (Apartment, houses, offices, commercial spaces, buildings, land and beach properties).
In the event that the buyer is managing the purchase through financing, it is helpful to have the appraisal given that if the sale value is higher than that given by the appraised. The bank or the institution that will give the financing to the buyer will base itself on that of the appraisal. Asking the buyer to put the difference between the value of the appraisal and the additional sale value to the initial payment. Not always, but this could bring setbacks in the sale. Depending on the liquidity of the buyer of the property in Panama.
Not all banks in Panama work with all appraisers. There are even banks that do not accept external appraisals and have their own made. However, there are large appraisal companies that work with the vast majority of banks in Panama. This being very helpful in starting a sales process because it gives an estimated market value for the property. The appraisals even contain a quick sale value, or liquidation, for emergencies where it is required to sell the property faster. As much as the appraisal is a good starting point, to have an appreciation of the price at which the property can be sold, the final decision always remains with the seller of the property.
The appraisal is one of the documents that every bank and / or financial institution asks for in order to grant an approval of a loan on a specific property. So it is important for the buyer of a property in Panama, since if they are contemplating buying through financing, it speeds up the procedure with the bank and / or financial institution.
Apart from the process of buying and selling a property in Panama with a bank and / or a financial institution, the appraisal can be used in the event that the owner of a property requires financing on the property. If an appraisal is required, at VICTOR CONSTANTE REAL ESTATE, we are delighted to be able to help get one and guide you to what is the fair sale price of the property taking into consideration the current situation of the real estate market in Panama.