The earnest money wiring went through successfully so I wired another chunk of change. Tomorrow I shall transfer the balance of the earnest money due. Messages were exchanged between my Panama City attorney and my real estate broker. I've located a septic system inspector and have been given the name of the man who installed the solar power system; he should be qualified to check out the batteries, but I don't know if I want him to review the balance of his own work.
In Panama foreigners are not allowed to own real estate. The work around is the property is owned by a corporation and corporations may be owned by foreigners. There is a $300 a year fee for filing returns per corporation. As this house is built over two lots, it is held in two corporations, which I want to merge. Half the house is on one lot, the other half is on the other lot. There was no way anybody could have built on either lot, this is built on a crest of a hill that divides the two. The original developer is a bit of a weasel and was advertising cheap lots knowing full well that no one could use one.
The builder of the floating houses has not responded to emails or telephone calls today, something to balance out the smoothness of this transaction.
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