Real Estate Buyer’s Guide
Nicaragua boasts a vibrant culture, friendly locals, endless pristine beaches, epic surfing, and warm weather all year round, making it an ideal vacation destination. But what if you’re considering buying/building a beach house, starting a business, or investing in real estate? The Surfing Nahua Team can help you navigate Nicaragua’s booming real estate market, especially in the Chinandega real estate market, focusing on beaches from The Boom to Nahualapa Bay. Our team has extensive experience in real estate transactions, with Barry having worked in the field for over 20 years, Boris being a listing agent, and Marjorie serving as our office manager and legal counsel, both with generations of family in the Nahualapa Bay area.
So, who is eligible to buy property in Nicaragua? Unlike many countries, you don’t need to be a citizen or resident to own property here. People from all over the world, including the US, Canada, Latin America, Australia, and Europe, can own property in Nicaragua without citizenship or residency.
How does property ownership work in Nicaragua? You can purchase property outright in your name, via a Nicaraguan corporation, or a foreign entity like an LLC, corporation, IRA, or trust. Non-citizens enjoy the same property rights as Nicaraguan citizens.
Are there any restrictions on where you can buy property? The only restriction is that foreigners cannot own property within five kilometers of the Costa Rican and/or Honduran border.
Do you need to be a resident to own property in Nicaragua? No, you don’t need to be a resident before or after buying property in Nicaragua. Owning property here doesn’t require you to become a resident of the country.
Should you become a resident of Nicaragua? If you’re interested in becoming a resident, owning property can make the process easier. If you plan to use the property as your primary residence or vacation home, it can improve your chances of obtaining residency. And if you’re purchasing a business or a property that generates income, it can facilitate the residency application process. Nicaragua offers different residency categories with their requirements and incentives, and our team can help you choose the best option based on your property and plans in the country.
Partnering with an experienced real estate agent who understands the local market and purchasing process is crucial when searching for the perfect property in Nicaragua. Start by browsing the Surfing Nahua property site for properties that interest you, and then communicate with a Surfing Nahua broker/agent via email or video call to discuss them. With your agent’s help, narrow down the options to the most promising properties and homes that you can view through a video tour or in-person inspection.
Surfing Nahua is a reputable real estate agency with a strong investment background and extensive experience in Northern Nicaragua and beyond. They are the only brokerage with an actual office North of Leon, ensuring that you receive up-to-date information on the best deals and opportunities. Your Surfing Nahua broker/agent can guide you through the entire purchase process.
The purchasing process generally involves four steps.
1) Property & Home Search – Begin by browsing the website and selecting any properties that interest you, then contact Surfing Nahua to choose an agent who can guide you through the search process. Next, either have your agent do a detailed live video call or visit us to inspect the properties in person and meet with potential lawyers in Managua and Chinandega.
2) Offer Process & Escrow – Once you identify a property or home you like, submit a formal offer and if accepted wire a 10% deposit into one of three escrow accounts in Nicaragua, St. Lucia, or the USA. Remember never to give any funds to the seller until the deed is signed over to you.
3) Due Diligence & Funding Escrow – Once your formal offer has been accepted, you need to engage a Nicaraguan lawyer to handle the legal aspects of the transaction and conduct a thorough due diligence on the property. It is essential to remove the property from the market and initiate the due diligence process officially. In case you plan to build on the property, The Surfing Nahua team can support you in carrying out necessary inspections, including soil studies, land surveys, and water studies. Once the due diligence process is complete and approved, you need to transfer the remaining 90% of the funds to the escrow account.
4) Close the Deal – To become the legal owner of the property, and register it under your name or corporation name, you will need to hire a lawyer. The lawyer will ensure that the funds in the escrow account are not released to the seller until the deed is signed over to you. It is crucial to safeguard the original title as it is the most critical document related to your property ownership, especially if you plan to sell the property or make any ownership changes in the future.
Our team has got you covered. We're experts in all things Nahua!