Q: When I purchase my property in Nicaragua, does my money go in to an escrow account first?

When purchasing land in Nicaragua, there is no requirement for your money to go in to an escrow account. Some developers ask that your initial deposit and final balance payment be sent directly to them for your purchase. Instead, we highly recommend that the attorney you select to manage the property closing acts as your escrow agent. Your initial deposit is sent to your selected attorney with the signed sale agreement. Then, before the closing date, you send the balance payment to your attorney as well. At the time of closing, and once all requirements have been met by both you and the seller, your attorney distributes the funds according to the sale agreement.

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