133 +/- Acres
54 hectare (133.44 acres) subdivision in Volcan, Panama. It has all approvals to develop 103 building lots. The property is located in the cool highlands of Western Panama just a 45 minute drive from an international airport located in the City of David.
The property also would be excellent for a home and ranch. It was a ranch for many years. The former owner bred prize winning Thoroughbred horses and Black Angus cattle as well as Peruvian horses.
The dark volcanic soil throughout the property is incredibly rich and will grow almost anything from vegetables and fruit to exotic tropical plants in abundance.
There are five year around springs that come up through the ground. The water that comes from these springs is so pure that it could be bottled and sold as pure spring water as a business. With pure water sources disappearing around the world, this extremely pure water has become very rare and valuable. The water rights will be included in the property sale.
The views in the opposite direction are spectacular with views of the 11,000 foot Volcan Baru peak, Panama's highest mountain. The property consists of valleys and gentle rolling hills. There are amazing views from almost every location on the property.
There is a small forest of pine trees as well as several very large 50 year old pines. Many of the trees on the property are covered with beautiful orchids. There are several waterfalls and pools on the property also. A stand of giant 6” diameter bamboo is growing on one of the hills. Dozens of banana trees are on the property, as well as some citrus trees. In the area where the stream flows through the land there are several giant old growth hardwood trees.
DISCLAIMERS & AGENCY DISCLOSURE
- Buyer's Fee: 0%
- Earnest Money: Total earnest money to be negotiated at the time of offer and to be agreed upon in writing in a Purchase Contract by the Buyer and Seller.
- Brokers and Agents are fully protected and encouraged to participate.
- RealtyHive & Micoley.com, LLC are licensed auction firms performing auction and auction marketing services as part of this transaction.
Property Buying Tips
So you’ve decided to buy! Congrats, that’s great!
Here are some great tips to get you on your way to ownership.
1. Determine Your Budget & Save
Take into account the average down-payment is 10%. 10% is not required, but the loan amount and approval will fluctuate depending on the percentage you put down. Determine how much you can pay for your monthly mortgage. Outline your expenses and be honest with yourself about what you can reasonably afford. Also, ask yourself what happens if you lose your job? Or if you’re part of a couple, what happens if your spouse loses their job?
2. Secure a Loan
Once you’ve got your budget in order, it’s time to go shopping for a loan. Visit multiple lenders to weigh your options and find the best deal. Each bank will determine if you are eligible and at what interest rate you will be charged. based on your financial situation. Make sure to ask questions such as what the breakdown of the monthly payments will be once you have made your down payment, how the loan term will affect your monthly payments, whether or not the interest rate is fixed or variable, if home insurance or any other services are included within the home purchase amount.
3. Be Prepared
Have a current Pre-qualification letter and good faith deposit funds available. Technology makes it easier than ever for your real estate agent to draft and transmit a purchase offer back and forth for your signatures. But, this is only one piece of the puzzle. You also need a current pre-qualification letter, and ready access to your good faith deposit. This can be obtained from the bank and confirms their willingness to give you a loan. Most sellers won’t accept a letter that’s more than three months old. If your home search lasts for more than three months, you’ll need an updated pre-qualification letter. When you submit your offer, it must include a check for the good faith deposit. Generally, good faith is at least 3% of the purchase price. This check will be deposited into an escrow account within three days of an accepted offer.
4. Stay Informed
Always make sure to do your homework and learn the history on a property you are interested in. Does the neighborhood have a high crime rate or a new highway/major road being constructed nearby that could be affecting the price? Is the heating, plumbing, roofing and window work in good condition? Those hidden problems can lead to major expenses in the future - post purchase. Ask your realtor for a property condition report and and see if the home comes pre-inspected. If not, we highly recommended to get and inspection before the purchase is complete. Being “in-the-know” and taking the extra steps can save you money and headaches in the long run.