Government of Panama Tightens Up Rules To Protect Real Estate Buyers
Saturday, March 24 2012 @ 03:19 PM UTC
Contributed by: Don Winner
Editor's Comment: Good. Finally. The government of Panama can do a whole lot more to protect consumers from the abuses of real estate developers. Many members of the English speaking community of expatriates who have purchased property in Panama have fallen victim to some kind of abuse - the stories are varied and the details change with each individual case, however the overall truth remains. The developers have been taking a "screw you, sue me if you want" attitude for years and getting away with it. It's about time the government finally stepped in to put a stop to some of the abuses. And I love the idea of the developers having to obtain a bond or guarantee to protect deposits.