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Step 1 Choose Beachfront Residence
Complete reservation agreement and submit with deposit. |
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Step 2 Budget for Options - First 15 days
Determine option allowances for Furniture, etc. |
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Step 3 Determine Ownership Entity and Sources of Funding ? First 30 days
Ownership Entity (Panamanian IBC, individual, or partnership)
Funding the 30% down payment (using cash, selling property, applying for Home Equity line, IRA roll-over) |
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Step 4 Transfer Documents and Execute Documents - Within 60 days
a. Promise to Purchase agreement
b. Option Budget Worksheet
c. Covenants and Rules
d. Beachfront Specifications
e. Option Price estimated ranges |
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Step 5 Funding the Down Payment - Wire funds within 60 days |
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Step 6 Finalize Options Online and Execute Option Addendum - Within 150 days
a. Option worksheet updated
b. Home shopping wizard online updated & password given
c. HOA articles and by laws provided
d. Resort Management docs provided |
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Step 7 Construction of the Beachfront Residence
View progress on Your Own "Red Frog Beach" Web page to see Construction Schedule and Beachfront Picture Gallery
Read Monthly newsletter and forwarded articles on Panama |
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Step 8 Financial Consultation
Prepare for ownership and apply for a mortgage.
Determine participation level in rental management program.
Overview of doing business in Panama including Bank dealings.
Discuss Resort Management program details if desired. |
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Step 9 Close on your new Beachfront Residence - A Wonderful Day |
Zipline
