Q:

How do you buy a home in Nicaragua?

A:

Quick Answer

When buying a home in Nicaragua, be aware of the local civil law and get the public deed translated, so you understand it, recommends the U.S. Embassy. Nearly every aspect of buying a home in Nicaragua is different than in the United States.

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Full Answer

Keep in mind that the contracts for homes in Nicaragua are usually written in Spanish, says the U.S. Embassy. You either need to make a special request to get contracts in English or have a translator explain it to you. If you get it in English, it needs to be taken to a court, where a judge has it translated into Spanish and decides whether or not to approve it. Processing contracts for homes purchased in Nicaragua takes time as most of them go through the local court system. This is going to take longer than buying a home in the United States.

Go through the public registry to register transactions relating to buying a property in Nicaragua, recommends the U.S. Embassy. Have mortgages and financing information, leases or sales, and possession rights registered through the public registry. In order to have transactions legally binding in Nicaragua, they need a pubic deed, which is approved by Nicaraguan law. While you can browse available homes from long-distance, you need to inspect the property thoroughly in person and sign certain documents in person.

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