Real estate attorneys for properties purchase or sale in Nicaragua

If you are a foreigner without Nicaraguan residence or citizenship, and you are interested in acquiring a property in Nicaragua, you should know that the country offers you great flexibility to execute your investment, since you can process the title due diligence and property investigation while outside the country (as long as you are in person to sign the acceptance of the property title or, designate a legal representative through a limited power of attorney) and title the property under your name or an entity. At Corrales & Associates, you will find property attorneys who will make the real estate buying process much easier for you.

Whether you are looking for an optimized location for your retirement plan, or to invest in properties for commercial purposes, we are here to make this process a safe and effective experience. Transactions involving real estate can be mistakenly considered as easy processes, so you might consider managing them yourself. In fact, it is recommended that you rely on experienced investment advisers, who not only help you streamline the process efficiently, but also protect you against scams and fraudulent transactions that could put your investments at risk.

Why hire Corrales & Associates when investing in real estate in Nicaragua?

By working hand in hand with our experienced bilingual team of attorneys, we assure that your peace of mind and protection are our priority. We will carry out all the required diligence for you, starting with an extensive Title Due Diligence (property investigation) that meets your objectives and preferences, and most importantly, that the real estate is truly free-and-clear of any encumbrances to avoid wrong investments or future litigation. 

In Nicaragua, this has been precisely one of the frequent problems that foreign investors have faced when buying real estate, since they have not had the competent legal advice required for these processes. 

Our law firm is recognized for its vast experience in real estate in Nicaragua. The team members that compose us has extensive knowledge in the preparation of contracts that involve real estate, registry investigations, legal audits of properties and real estate management in general, with extensive handling of procedures in government institutions, such as the Public Property Registry, Mayor’s Offices, General Revenue Directorate, among others.

Why hire Corrales Lawyers - Corrales Attorneys for the purchase of real estate in Nicaragua?
Real Estate Services in Nicaragua of the Firm Corrales Lawyers - Corrales Attorneys

Real Estate Services in Nicaragua:

  • Title Due Diligence or Property Investigation
  • Purchase of Properties and Registration
  • Escrow Service
  • Promise of Sale Agreements     
  • Constitution of Trust 
  • Constitution of Horizontal Property Regime

Looking for commercial properties or vacational beachfront homes for sale in San Juan del Sur? Our property lawyers will provide you with a hassle-free legal guidance

Subtitle: Welcome to the frequently asked questions about our legal advice and asset protection services for real estate investments in Nicaragua. If you cannot find an answer to your question, we invite you to fill in the contact form located in the next section.

1. Can foreigners own property?

In Nicaragua, foreigners have the same property rights as nationals, with the exception of not being able to own property within 5-kilometers of the country’s northern and southern borders.

2. Can I buy a property with my IRA, company or Trust?

Any legal entity can be used to buy real estate in Nicaragua. These entities, if foreign, must grant documents of existence in the country of origin, plus a Power of Attorney to represent it in the purchase of real estate.

3. Do I need to personally attend the Transfer of property meeting?

Yes, the Civil Law system requires that the acquirer has to sign accepting the transfer of the domain in favor of the buyer, therefore a Special Power of Attorney must be granted if the buyer will not be in the country on the closing day.

4. How long does the registration process for the purchase of a property take?

This depends a lot on the province in which the property is acquired, but normally it lasts between two and six months from the date of signature of the deed of sale.

5. How many people can I include as owners in the new title?

All the people you want, whether they are natural or legal. If there are more than two, it must be established whether they acquire the title in equal proportions or in different proportions.

6. Is there escrow service in Nicaragua?

Yes, there are several escrow services in Nicaragua. These services and costs vary according to the need for custody of funds. Our firm recommends the use of this service for the security of the parties to a contract.

7. What should I do before buying the property?

The most important thing is to hire a competent and experienced attorney to do a Title Due Diligence for the land you want to acquire and make sure that there are no problems with the title, that the property is unencumbered, that you do not owe Real Estate Taxes, that has legal access, among others. In the case of properties that have structures, it is important to do an inspection on the condition of the structure to ensure that it is safe.

8. Can I acquire title insurance in Nicaragua?

Title insurance is not available in Latin America with the exception of Mexico. However, our firm does the same job companies that offer title guarantee services do in terms of the research that is done prior to the purchase of a property.

9. What is the approximate closing cost when buying a property?

Closing costs are highly dependent on the price of each property. We can say that they are in a range of between 4 and 9% of the cost of the property.

Looking for the best legal advice in the country?

Contact Corrales & Associates