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Step 1 Choose Development and Lot
Complete reservation agreement and submit with deposit. |
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Step 2 Choose Villa Model and Budget for Options - First 15 days
Determine option allowances for Furniture, Landscaping, upgrading the pool 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. Villa 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 Villa
View progress on Your Own "Red Frog Beach" Web page to see Construction Schedule and Villa Picture Gallery
Read Monthly newsletter and forwarded articles on Panama |
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Step 8 Financial Consultation
Prepare for villa 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 Villa - A Wonderful Day |
