littlejon

littlejon 

I am not an expat yet

 
 
 
 

Latest Activity

littlejon posted on the thread bearer shares/real estate??? on the Panama forum

I don't think so either. But when I had never heard of the term I googled it so I would have an idea as to what they were. A few sites popped up explaining the concept of the bearer of the share owns the property, but a few articles mentioned that this could be a fraudulent transaction and Panama was one of the countries that it happened in frequently. It seems the way the scam works is that since no name is on the share, the purchaser (from another country) has his share and the scammer has a share that no one knows about. They have it notarized and somehow they end up formally owning the property and start charging the purchaser rent. I don't know all the logistics of this but it made my flags go up and all I ask is that if I purchase something that has bearer shares, that I know I have sole title to the property. I wouldn't pass on a property just because of the bearer share issue, I would just be certain I have a lawyer that is familiar with the process and has my best interest at stake.

littlejon posted on the thread bearer shares/real estate??? on the Panama forum

Thanks so much for the information....We are in the process of submitting an offer on the space. It's an apartment, so no land is involved. I will make notes that you had mentioned regarding due diligence and be certain my lawyer is knowledgeable on this kind of transaction. I'm thinking I will fly back for a short visit to actually visit the property as I don't think it's wise to buy something based on photos from the internet.

littlejon posted on the thread bearer shares/real estate??? on the Panama forum

Thanks for the info. As i said earlier, I had found some written information regarding scams that involved bearer shares. I plan on pursuing my options to obtain this property but will definitely have a lawyer that is familiar with this process and ensure there could be no fraud later on. I assume if my name is on the share or title of the property, then there should be no way it could be taken from me (i hope). Will keep you updated. Thanks again Jon

littlejon created a new thread on the Panama forum

bearer shares/real estate???

Hi all, I am interested in a piece of property I found and was advised by the realtor that the property is "Currently in a corporation with bearer shares available". I have never heard of this term before and was wondering if anyone residing in Panama City has heard of this and what it actually means? I did Google it and found some articles stating that it was a means of fraudulent real estate transactions and again looking for any information on this term. Anyone that can shed any light on this would be GREATLY appreciated. Thanks, Jon

littlejon posted on the thread Just got back and am more confused on the Panama forum

Hi Chris, thanks for the input....Please don't think my trip was anything but totally enjoyable and not disappointing at all. I guess by seeing pictures of Panama City with it's impressive skyline, I was surprised to see so many small structures tucked among the glass towers. And being a city boy, I should be used to seeing garbage in the streets. The biggest confusion (for us) is that my partner and I are trying to imagine what our needs and wants will be as retired people 6 to 10 years from now. We vacillate from saying we want a view of the water (not necessarily waterfront, just a view) to saying a cityscape is cool and walkable. We live in the city now and don't get to theatres (movie or live) often at all, so is the need for them later on just an aspiration of mine.? On top of our wants (and needs) lies the necessity of renting out our purchase for the duration until we actually can use our place. That leans us towards the City. Honestly we both like El Cangrejo and Casco Viejo a lot!!! I liked the neighborhood and walkability of Cangrejo and well Casco Viejo, the restaurants and plaza's were exceptional, along with the architecture. I loved that they were bringing the cinta Cintero (is that right) up to Casco Viejo since I can see myself taking a very long walk or bike ride along the water from Viejo to the other end of the city. Funny you mentioned Altos Del Maria, the other couple we traveled with looked there so we got to see the area....very pretty and amazing views, but a little too suburban for my liking. I was confused with Coronado...Being a large expat community, I couldn't find a main road or street through it and we ended up on this back road that was EXTREMELY rough and torn up. Because of this, I don't think I got the real picture of Coronado, but the other couple drove and none of us really knew where we were going. They mentioned an area called Playa Blanca, what are your thoughts on that area?? Anyway, we hooked up with a realtor and I think we're focusing on the areas mentioned above; Cangrejo and Viejo. My opinion is that Viejo is a better investment as to the amount of work being done there. I see another trip in the future to get a better handle on it. Now that I have a vision of Panama, I can make the next trip more with my eyes open as I will know what to expect. Thanks again for the information and assistance and we have a feeling that in ten years Chorillo will be a demand real estate area. I just found it funny that we were told to avoid the area by you and a few other people. And we kept driving into it (by mistake)....oh well, at least I can say I saw it. In fact we ate at a restaurant on 11th and it was fine walking there. A sure sign that Viejo is expanding. Jon

littlejon created a new thread on the Panama forum

Just got back and am more confused

Just got back from my first trip to Panama to see what "places" I might like to think about retiring to. I stayed in Casco Viejo and found it comfortable. However, it seems it's also the most expensive place to buy in Panama, but also the best investment. In my original thinking, I really thought Panama City, being as large as it is, would have me finding neighborhoods with theatre, restaurants etc. and though it does, it wasn't what I was imagining. So that now leads me to think of moving further from the city to get more for my money as housing in the city does not give much "bang for the buck". Unfortunately during this trip I was unable to make it to Las Tablas, Playa Blanca or other areas on the outskirts. Does anyone have information on these areas regarding size of town/city, size of expat community and entertainment options, theatre, restaurants, shopping. In general I didn't fall in love with Panama, yet didn't hate it either. I found some beauty and saw a lot of garbage also, so having some thoughts as to if this is right for me. CMichael- thanks for the info about Casco Viejo and El Cangrejo....actually liked both best of all I saw and happened to drive through Il Chorillo a couple of times (got lost)....all I can say is WOW, and I'm from New York City, you would think I would have been hardened to such neighborhoods.

littlejon posted on the thread Coming soon on the Panama forum

Hi! We will be arriving in a few days also, actually arriving Thursday. Our plan is to move in a few years, but buy prior to moving and renting it out. We narrowed our search based on research we did and our likes, needs and wants. For example, Boquette, David and Las Tablas are all to far from Panama City though they have some excellent reviews. We love city life, theatre, shows and shopping. Water is a plus, but we are not beach people so water views as opposed to water front is on our list. Living among expats is also a major plus. Last, definitely in the market for a condo as opposed to house; don't want to deal with maintenance. Based on our searching, we are looking in Panama City, Gorgona, Coronado and we were told to check out an area called Chame. Good luck in your research and enjoy the trip; please post your experiences when you return, we will. Enjoy, Jon

littlejon posted on the thread New member traveling to Panama in June 2013 on the Panama forum

Coronado and Gorgona are on our radar...So far it seems Coronado might be untouchable in regards to my price range, but the area has some positive attributes ie: beaches close by and about an hour drive to Panama City. Gorgona ( I heard ) is not as popular yet, but have heard it might be up and coming as it is 15 minutes to Coronado and an hour from PC. And the prices are not as high as Coronado (yet). One major factor in my choice is rentability (I know not a real word) since I will have it rented the entire time i'm waiting to retire (5 years or so). So far it seems the money and rental success rate are in the City. I will do a lot of homework while there and let you know when I get back. Jon

littlejon posted on the thread coming to Panama on the Panama forum

Michael, I screwed up....I thought we were staying in the Crab, but found out tonight we are staying in Casco Viejo. Any way you can tell me a little about this area? Thanks Jon

littlejon posted on the thread coming to Panama on the Panama forum

Thank you Flo and Mike for the information; it was and should be very helpful. Coming from New York City, I will definitely know the "times" to take my daily walks and how to not be targeted. Glad to hear that the area we chose is urban and up coming as the city is where we will relocate to if and when the day comes. Sorry to hear about the police, but I will take your advice Flo and act accordingly. Mike, thanks for all the info on the nightlife, but as we're an "old married" couple, nightclubs have gone the way of my platform shoes (from the 70's). Based on the info from you and Flo we should have no issues as we are not flashy or find the need for public displays of affection. In fact, when meeting us, many are surprised of our sexuality. Thanks again for the replies and am looking forward to making this journey. Jon

littlejon created a new thread on the Panama forum

coming to Panama

Hi All, My name is Jonathan, and my partner and I are coming to Panama this Thursday. As this is our first time in the Country, I have some questions I hope can be answered to the best of anyone's ability. I have been following the posts on the site for some time so that has posed new questions. Our reason for visiting is to have some vacation time but thinking of relocating at some point down the road (no definite time). We are staying in an area called "the crab" in the city??? and were told this is a nice area. My questions are as follows: 1) Is this a safe area? I like taking daily walks and am worried about venturing out alone if this is not recommended. 2) Are gays welcome in the area? I know the Caribbean is not "gay friendly", so not sure of Panama City. 3) I read somewhere on this site that the police can harass you and like to be bribed, any truth to this???? 4) Do I need an electric outlet converter to plug in cell phone chargers, laptops, etc or are they like the ones here in the good old US of A? I hope someone has some info that would shed some light on these things.... Thanks Jon