- 1). Find an experienced real estate agent. Unless you are savvy with the real estate laws in Nicaragua, it is prudent to find an agent who has experience with the laws of the country. Do due diligence in finding a trusted agent who has a track record in Nicaragua. Some of the major real estate agencies who have offices in Nicaragua include Coldwell Banker, RE/MAX and Century 21.
- 2). Visit the country. If you are not already familiar with the cities and neighborhoods of Nicaragua, you should take multiple trips to the country to see where properties are being bought and sold. There is a strong link to tourism and real estate values according to EscapeArtist.com, a popular website targeted to traveling and living overseas. Tourism is the top industry in the country and much of the real estate market is made up of vacation homes, second homes and retirement homes. Keep in mind what an American would be interested in when looking to rent or buy a property. Also, read the latest edition of the travel guide books to keep up with new developments.
- 3). Stay up to date on new laws concerning real estate. Nicaragua is a very safe and stable country, but its laws on real estate investment have changed in the past. A new law passed in 2009 allows property to be built within 50 meters of the ocean, replacing an old law that prevented building within 800 meters of the coast. Stay abreast of new laws by reading the news on PropertyWire.com, a global property news service.
- 4). Get an attorney and title insurance. Nicaragua is known for having a complex history concerning property titles. Make sure to get an attorney who understands the system. Get a number of recommendations from real estate agents and your trusted independent business associates. You should also get property title insurance to protect yourself against any claims to the ownership of the land.
- 5). Do research and proceed with caution. All real estate is prone to cycles of appreciation and depreciation. Make sure you know what the worst case scenario is should the market take a dive. Talk to other people who have invested in real estate in Nicaragua. Become an expert in the market before you invest yourself. Make sure you understand that although the country is friendly to foreigners, you still need to consider the local interests of the people who live in the community of the property.
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