Here is yet another e-mail from a person concerned about their project running late (NOTE: ALL projects run late in Panama - you have to be here to understand why - what I don't understand is why these real estate agents and developers keep telling people dates they know they will never achieve) Roberto
Hi Roberto, I wonder if you have any information on the project [Town center] It was to be ready at Xmas 2010. We live in Canada the developer has never sent any information on the status of the building. We are wondering if you could shed some light on the status of the town center. Your help would be greatly appreciated. By the way my wife and I met you last year at Woody's.
I have received many such e-mails about real estate projects in Panama. I feel awkward, as I am not a real estate agent or broker, and do not like to speak about issues that I am not qualified to speak about. I have friends that have purchased units in The Town Center in Playa Blanca, and they too are upset that it is not finished, and the developers and real estate agents that sold the properties do not seem to be responding to their concerns.
I suggest you contact your real estate agents and advise them that if a response is not forthcoming in a reasonable time, you will send letters to The Visitor newspaper ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ), Newsroom Panama (www.newsroompanama.com) and The Panama News (www.thepanamanews.com) - the threat of bad press may force them to do their jobs.
You can also complain to ACOBIR - the regulatory body of real estate agents and developers in Panama. (www.acobir.com)
In fact, I have received so many complaints about various real estate developments I have removed all real estate ads from my site.
I stress again - only deal with licensed real estate agents (they have 4 numbers after their names - and they must be a Panamanian citizen)
Check with ACOBIR to see if your agent is legally allowed to sell real estate in Panama. If you deal with an unlicensed agent you have NO protection, and the local authorities will do nothing to help you.
Ask around, see the property personally and BUY WHAT YOU SEE - not what they tell you is going to be there "some day"
Guaranteed by December? It is almost February and the Town Center does not look done to me, but as I said - I am not a real estate agent or developer. I can tell you that anytime I set out to do three things in Panama, I am very pleased if I get one done - and thrilled if I get two things (three never happens).
It is a different pace here - the good news? I have cut out my high blood pressure medication since moving to Panama. See my article on this site about the true meaning of manana. Roberto
