We are the only website in Panama specialized in providing up to date information on what and where, Panama foreclosures are being auctioned by the different courtrooms of Panama. Every property in our data base has been foreclosed and is now being sold in public auction.
This is priviledged information usually only available to people in Panama and it is not available on any other website, much less in English.
How does It work?
Every listing in the site comes with a scanned document that has all the details about the auction, including identification number for every property (finca number), when and where the auction takes place, auction price, what to do to be able to be part of the auction, etc.
In order to be able to open the attachments you have to register and subscribe to the service for at least 1 day. Find what subscription plans are available by going to the subscribe section or Click Here , once you finalize the registration and subscription process you will immediately be able to open the documents.
Subscribe using Paypal and obtain our information guide with information you will find very useful to buy and sale properties in Panama. Guide also includes:
- Contact information for a Panama City Attorney
- Trusted driver in Panama City, name and phone number
- Contact information for a Licensed Accountant in Chiriqui
Panama Foreclosures obtains the information from public domain sources that are NOT available on line, we do not produce the information available in our website and may not be able to notify subscribers if a courtroom changes or cancels the sale of a property at the last minute.
Panamaforeclosure.com highly recommends you to hire a local attorney to research the property before you try to buy Panama foreclosures or any property in general.
Down below you will find answers to common questions, if the answer you are looking for is not there, please feel free to contact us.
Frequently Asked Questions
How to buy a property listed here?
The foreclosures listed on this site are sold by the different courtrooms of Panama in a Public Auction. Those interested in buying a property have to go to the courtroom celebrating the auction on the date chosen for it and bid on the property of interest.
Why is there 2 prices on every property
The highest amount is the auction base price set by the courtroom, the lower amount is the minimum offer you could make in order for the courtroom to consider it acceptable.
We highly recommend you to start offering the lowest amount allowed and go up as needed.
Requirements to bid on a property
Foreigners and Panamanians can bid on any property found in our site. In both cases a legal and valid identification is needed, if you are not from Panama you need to have a legal passport and need to be in Panama legally.
Other than that, courtrooms require a Judicial deposit, this deposit is usually 10% of the auction base price but it may change from one case to another. The exact percentage can be founded on the document attached to every listing.
Can I see the property of my interest?
Courtrooms do not show properties to anybody, that is not their job. If you have interest in seeing a property before biding on it you need to locate it on your own.
You can do this by using the address that comes on the PDF file attached to every property listing (if the courtroom provided an address), or by using the property ID number.
Courtrooms do not publish pictures of the properties.
Why do I need to obtain a membership plan?
As a new and unregistered user you only have access to the basic information of every property auction, once you register and obtain a membership package you will have access to the documents attached to every listing. This documents have the following information:
- What courtroom is executing the auction
- Property identification number so you or your attorney can research the properties
- What to do in order to bid on the properties
- Any other information the courtrooms made available to the public such as description of property, address, etc
How often is the information updated?
We add more foreclosed properties to the data base weekly, every month we make available the information of between 50 and 80 foreclosures
Will I get notification when new properties are added?
Subscribed to our service or not, you can get email notification of new properties added to the data base, simply go the bottom of the page to “News letter” and include your email address in there to be notified by email.