Escrow Services

The primary objective of an Escrow company is to offer Escrow Services to buyers and sellers of real property in Panama (or any other asset or service outside of Panama), and to handle the receipts and payments for these transactions.
For example: In the case of a real estate transaction in Panama, the Escrow company would receive the full payment from the Buyer, and at the closing, the Escrow company would disburse payment to the Seller, disburse payment to the Broker (for realtor commissions, if any), disburse payment to the construction company (for property development, if any), disburse payment to the attorney (for legal work such as title search, buy/sell contract, title transfer, etc.), and disburse payment to any other party directly involved in the transaction that must be paid as part of the buy/sell agreement.
The primary purpose of an Escrow service is to;

• Provide the seller with the assurance that the buyer has the funds to pay for the transaction, since the Escrow company can confirm that the funds have been paid to the Escrow account.

• Provide the buyer with the assurance that the property has had a proper title search completed, a proper buy/sell contract has been executed, and the legalities of the transaction have been met to protect the buyers interests.