The real estate purchase process is essentially a two-tier process involving three parties: the buyer, the seller, and the notary.

Once you have agreed upon a purchase price with the seller, the notary will prepare a promesa de venta (promise to sell). This is a three-party agreement, signed by the buyer, seller, and notary.

Once again, a testimonio is prepared. This is taken to the property registry and an appraisal of the property is done. An appraisal certificate is issued and submitted to the IRS, along with testimonio. Once the transfer taxes have been paid the testimonio is recorded in the public registry office at the local municipal.

1. Be prepared to walk away.
2. Find the proper lawyer that you understand and who has a good reputation.
3. Use an escrow account
4. Obtain the Escritura (Deed) and Plano (Property Map)
5. Obtain the Historia Registral (Property History), Solvenica Municipal (Property taxes paid), Libertad de Gravamen (Property Liens)
6. Have the topographer check the property boundaries

7. Obtain title insurance

There are two types of residency visas. When obtained they grant you officialdom in the form of your very own cedula (residency card).

There is a permanent residence visa and the investor’s residence visa. They are nearly identical, with the exception of one additional requirement for investors, and both require a number of authorized and translated documents.

Once in Nicaragua, begin the process by going to the immigration building and requesting a form for the appropriate resident visa.