Latin America Collection

Rentals
Nicaragua's rental market, especially in the colonial city of
Granada, is smaller than rental markets in Costa Rica and other
countries. This is because until recently there has not been much
of a demand for rentals; tourists stayed in hotels, and expats
living here were looking to take advantage of affordable real-
estate prices by purchasing homes or lots.
But as the expat community has grown, and real-estate prices
increased, there has emerged a greater need for rental properties.
And while they are not abundant, they do exist.
In Granada, homes for rent usually range from $350 to
$1,500/month, mostly furnished. Several of the homes are
beautiful and spacious old colonials complete with swimming
pool, gardened courtyards and all the amenities.
Some families also rent out rooms in their homes (usually
furnished with a private entrance and private bath) for around
$200/ month. Some places also do nightly rentals, starting
around $40.
Granada Property Management (owners speak English) is a
special rental service in Granada that is operated by the owners
of Casa Clarita Guesthouse and Spa
(http://www.casaclarita.com). The webpage features photos and
information on all their homes for rent.
Several of the larger real-estate companies, such as Discover (tel.
505-270-4000, http://www.discovernica.com), also offer rental
services in Granada.


In Managua there are more homes for rent, as well as several
newer apartment building complexes that rent rooms by the
week or month, from around $600 to $1,500/month. Futuros
Real Estate
(tel. 505-265-8068,
mailto:futurosbienesyraices@yahoo.com) offers condos furnish
and unfurnished for $500-$700 a month.
Rental properties are also available on the beach. The best way to
locate properties for rent is to contact local real-estate agencies.
Several things to consider before renting:
1) Security. Make sure you are NOT moving into a bad
neighborhood with gangs/crime (note: some
neighborhoods LOOK nice during the day, and are another
story at night). Make sure all the locks work.
A fixer-upper in a prime Granada location.


2) Noise levels. Find out what decibel levels it gets outside
your bedroom before moving in. Check to see if there are
bars/cantinas nearby, dogs barking, etc.
3) Location and accessibility to transportation. If you are not
living near the central park, or near places you are going to
frequent, make sure you are near a bus stop or on a street
where taxis pass.
4) Street lighting. Many streets in Nicaragua are poorly lit. It's
not a great idea to move into a home on the darkest street
in town, especially if you are going to be walking home at
night.
5) Water and electricity. Make sure you have both.
6) Cleanliness. During the dry season, especially Jan-March, it
gets very windy. If you move in next to a construction site,
dry river bed, or pile of dirt, you will be spend half they day
sweeping and moping your house. Dirt + wind = dirtdrifts
in your living room.
7) Mosquitoes. If you live near a river, lake or any wetland,
find out how bad the mosquito problem is before moving
in. Dengue and Malaria aren't fun.
When it comes to contracts, don't sign anything you don't
understand based on the landlord's word of honor.
Before deciding to live in Nicaragua permanently, it is a good
idea to rent a place first or find a real estate agent who can show
you around and guide you through the buying process. As a
gringo, prices sometimes may be higher. If you speak Spanish
you may be able to find a better deal.
When reading the ads in the Spanish newspapers you should be
familiar with the following words: Se Alquila-for rent, agua
caliente
-hot water, alfombrado-carpeted, amueblado-furnished, sin
muebles
-unfurnished, baño-bathroom, cocina-kitchen, cochera or


garaje
-garage, contrato-contract, depósito-deposit, dormitorio-
bedroom, guarda-guard, jardín-garden, seguro-safe, patio-patio,
parqueo
-parking, verjas-bars, zona verde-grassy area, córdobas
(Nicaraguan money).
Rental space for commercial use is available in Nicaragua. Rates
vary widely depending on location, age of buildings,
telecommunications availability, parking space and quality of
security services.
General Advice When Buying Real Estate in
Central America
Despite a surge in real-estate values over the last five years, prices
of decent homes in Nicaragua are still more affordable than in
the United States, Canada, or even Costa Rica.
The value of beach property is predicted to continue its upward
trend in the future as the country becomes more popular and
developed, especially with plans to build a new coastal tourism
highway connecting southern Nicaragua to Costa Rica's
booming Guanacaste market. Beachfront property is being
bought-up fast, and the price of this and other prime real estate
is increasing as the country becomes more popular.
Before you move to the beach, you should know that the novelty
of living at the beach wears off fast. Visiting the beach for a few
days or weeks is very different from living there full-time. The
humidity, boredom, lack of emergency medical facilities and the
general inconveniences of living in an often out-of-the-way area,
are factors to consider before moving to any beach area.
Besides homes and beach property there are also farms, lots and
ranches for sale at reasonable prices, depending on their location.


Drinking water accessibility is another major consideration when
looking at rural properties and coastal development projects. Be
very leery of development projects that do not yet have a source
of drinking water, or projects that claim to get their water from
on-property wells. Drinking water is a major issue in Nicaragua,
especially during the dry season, when wells can dry up.
Poor infrastructure is another factor to consider. Although new
roads are being built, many development projects still don't have
adequate connection to the rest of the country.
Always hired a recommended lawyer to make sure the property
has a clean title history, and double check to make sure there are
no liens or unresolved claims against the house.
Double check the parameters of the house or property in the
Catastro Office, to make sure the boundaries of the property you
are buying are the same are what the seller claims they are. And
make sure back taxes have been paid (a document called a
solvencia
), or you will inherit the additional payments.
Make sure the seller is the rightful owner of the property or has
a "poder judical" (judicial power) from the rightful owner to sell
said property.
Avoid buying property sight unseen. This can ­ and often does ­
lead to future problems.
Building a Home
Some investors opt to purchase lots of land and then build their
own home. While this is feasible here in Nicaragua, due to
relatively inexpensive costs of land, labor and supplies, it is by far
the slowest way of moving into your dream home.


Red tape and bureaucratic hurdles will slow you down
considerably. Another major consideration before doing this, is
land accessibility to electricity and potable water. If your lot does
not have electricity and drinking water, don't expect the
government to hurry to accommodate you. There are many
others already waiting in line.
Check out building codes and regulations in the area where you
are planning to buy before putting down money. Sometimes
what you hope to build will not be permitted. And once you
have the property, you are better off getting a Nicaraguan
contractor or lawyer who knows how to work the system to get
your building permits for you. If you show your gringo face in
the permit office, you might be in for a long road ahead.
If you plan to dig a well on your property, consult with
technicians to make sure the well will supply enough water for
the number of people who will live on your property, and that
the well will last through the dry season.
An American is restoring this colonial home.


Investing in Nicaragua
by Dale Dagger and Iris Mailloux
After nearly a decade of a stable pro-business government, Nicaragua is
making an encouraging comeback.
Nicaragua has a thriving economy supported by liberal economic policies
and sound financial, fiscal and exchange rate management. A recent CIA
report ranks Nicaragua as the fastest growing economy in Central America.
Their rebuilding and rebounding economy has created a large array of
investment and business opportunities that will be enhanced with the
development of incentive programs for investors.
Nearly 500,000 Nicaraguans fled the Sandinista regime 20 years ago and
the current government is encouraging their repatriation. They have
retirement laws in place that resemble the old Costa Rican pensionado of
the 1980's .
Foreign retirees are being welcomed as well. Because of their skill,
experience and capital these people are finding themselves welcomed by a
government eager to rebuild it's economy.
The low property prices and rising market has made Nicaragua a new hot
spot to buy real estate.
Foreigners have begun to purchase property in Nicaragua. Following the
Aleman victory and Daniel Ortega's second defeat in the polls, several large
tracts of land were sold to European hotel developers. Since then a trickle
of investors has grown to a moderate flow of serious buyers looking for
new opportunities and lifestyle changes.
To a foreign or local investor buying property can be difficult. This is due
to the fact that from 1970 till 1990 Nicaragua was under a government
guided system under which a large part of the productive infrastructure
such as factories, agriculture and cattle farms, homes and lots were taken
from their legitimate owners and redistributed. Since 1990 with a new


lawful and democratic government in place, these owners have started or
have already resolved the legal recovery of their property.
It is very important therefore to deal with a real estate professional and
lawyer who have local contacts that will enable them to learn the oral
history of individual properties. Most of the ownership questions have
been settled long ago but there are still some hotly contested properties
around Nicaragua.
According to Nicaraguan law, every piece of real property is described in a
document called an escritura that is registered in the Registro Publico de
Las Propiedades. There is another document that graphically depicts the
site information in the escritura called the plano that is centrally located
and registered in the Catastro office.
When buying property in Nicaragua, the escratura is obtained from the
owner and examined by a knowledgeable person as to validity. The seals
must be checked to assertion whether the property has been registered with
the Catastro office or not. The next step is to confirm with a surveyor
called a topograro the plano of the property. At the Registro Publico office
a document called a Libertad de Gravemen may be obtained for a fee. This
document attests to the fact that there are no liens, debts or back taxes
owed against the property.
With these documents in hand you can then begin the journey through the
Nicaraguan system of offices and registrars, or for a fee have a specialist
walk it through for you. When using common sense and the assistance of
a knowledgeable honest representative, you can make purchasing property
in Nicaragua a relatively easy and very secure endeavor.


Due to the electricity and water considerations ­ as well as road
accessibility, sticky land title issues, limited cell-phone reception
and other factors ­ many foreigners opt to either buy into a
development project that will help them solve those problems, or
buy a fixer-up to remodel.
Many foreigners who want to build a home here buy a plot of
land that has been subdivided by one of the numerous residential
development projects on the Pacific coast, or in Managua. Many
of these projects already have the infrastructure in place (water,
drainage, electricity, roads), and work with local architects and
contractors, essentially walking you through the process.
Speculating
Nicaragua's hot real-estate market has attracted lots of recent
buyers who hope to purchase properties and flip them in two to
five years for a nice profit.
But before speculating on a real-estate investment, we suggest
you educate yourself by studying the Nicaraguan real estate
market and practicing due diligence in your homework.
The market is ripe for speculation, especially in Granada and
along the Pacific coast. Some investors have bought old colonial
homes in Granada, invested $3,500 in a new roof and paint job,
and flipped it for a quick $10,000 profit. Even if you buy an old
house in Granada and sit on it for a couple years, you will most
likely be able to sell if for a modest profit down the road, if
current real-estate trends continue.
Still others have bought up properties along the Pacific coast and
are waiting for the new coastal highway to go in before cashing
in their chips.


Granada vrs. The Pacific
One of the biggest dilemmas confronting real-estate investors
looking to buy in Nicaragua is whether they should go for the
colonial charm of Granada, or the sun and sand of the Pacific
coast.
Both markets are smoking hot, with appreciation rates that have
­ in some cases ­ tripled in the last three years.
In Granada, it is currently hard to find anything available in the
colonial sector for under $100,000, whereas three or four years
ago you could buy a fixer-up for $40,000, or less. Foreigners are
moving in fast and buying up homes. Construction is booming
and the town is growing at a rate that is almost appears like a
time-elapse still photography effect. They new mayor, Alvaro
Chamorro, is committed to developing good relations with the
ex-pat community, and is working to improve citizen security
and infrastructure, while streamlining government and reducing
the wait time for building permits.
On the Pacific, there are some 20 different development projects
that have popped up, all since 1997. Some of these developments
are selling turnkey homes and condos, while others are selling
subdivided plots for construction. Plots of land in April '05
(when this chapter was written) were selling for anywhere from
$40,000 to $310,000, depending on size and location. The
benefits of buying a plot on a development project are many:
infrastructure, security, title insurance (inquire about this before
you buy), water, electricity, phones, community, and a central
office to help guide you through the construction process. In the
case of the turnkey residential developments, you have all of the
aforementioned benefits, plus you are saved the headache of
building. The benefits of buying your own land for construction


New Law to Regulate Costal Development
By Tim Rogers
Tico Times Nicaragua Correspondent
MANAGUA ­ Scrambling to catch up to the coastal-development push that is
moving ahead at full tilt along the Pacific border, the National Assembly is preparing
a new law to regulate expansion on Nicaragua's shorelines, before the whole west
coast gets built up.
The Coastal Law is currently being studied by three congressional commissions,
which have started to consult with a wide cross-section of society: everyone from
developers and members of the Pacific tourism sector, to leaders of the Atlantic
coast's Indigenous Council of Elders.
The proposed bill has existed for years in the National Assembly, where it has been
shifted from one backburner to the next, never coming to a complete simmer.
But the recent explosion of the Pacific real-estate market has forced lawmakers to
reevaluate their legislative priorities. Nicaragua's changing reality has given new
significance to the long-shelved initiative, prompting the National Assembly to dig
the bill out of its files, blow off the dust, and fine tune it in hopes of having it
ratified by the end of the year.
SERGIO Arguello, director of judicial affairs for the Nicaraguan Tourism Institute
(INTUR), explains that coastal development is currently regulated by a tangle of
overlapping legislation: the Agrarian Reform Law, the Law of Environment and
Natural Resources, the Law of Municipalities, the Civil Code and the National
Constitution.
But Nicaragua does not have a specific law to control coastal development, such as
the legislation that exists in Costa Rica, Mexico, Spain and Venezuela. The result has
been confusion ­ and sometimes indifference ­ about what is allowed and what is
not. For example, in Nicaragua ­ as is the case in Costa Rica ­ all beaches are public,
and construction is prohibited within 30 meters of the high-tide mark (the limit in
Costa Rica is 50 meters). But because understanding the full scope of coastal-
development regulations means embarking on a virtual Easter-egg hunt through
Nicaragua's various laws and legal codes, oftentimes it's just ignored.
THE forthcoming Coastal Law ­ the details of which are still being hammered out
­ will establish clear norms and regulations to protect both the environment and
investors, Arguello said.


The law is not intended to create new obstacles to development, the INTUR lawyer
assures, rather to encourage continued progress by clearly laying out the rights of
the environment and the landowner. Most of the norms won't change, he said,
they'll just be presented in a single document that orders pre-existing regulations.
IN addition, Arguello added, the new Coastal Law aims to coordinate government
institutions to expeditiously resolve pending ownership disputes over shoreline
properties.
Once title issues are resolved, more land will be available for development, either
through sales or concessions (in the case of government-owned land). The law will
also establish new terms for government concessions, Arguello said.
BUT while the politicians discuss future development, Nicaragua's future is already
being built along the Pacific coast. Since the 1997 birth of Rancho Santana,
Nicaragua's first private beachfront residential community, some 20 similar
development projects have popped up along the Pacific over the last several years.
While backpacker/surfer camps are becoming increasing popular along the south
Pacific, much of the west-coast development is geared toward big-money folk.
Marina Puesta del Sol, a luxury resort in the northern department of Chinandega,
already operates a full-service tourist marina, and at least two more tourist marinas
are reportedly being planned for construction at southern Pacific developments of La
Joya del Mar and Arenas, in Tola, known as the "Nicaraguan Rivera."
Several 18-hole golf courses are also being designed on the southern Pacific, at the
Iguana and Gran Pacifica developments.
THE mostly indigenous, heavily jungled Atlantic coast still remains more isolated
and less developed than the rest of the country. But even this traditionally
marginalized region of the country is slowly becoming more connected to Nicaragua
and the rest of the world.
President Enrique Bolaños this week announced that the government plans to make
the airstrip in Bluefields a new international airport, and is taking steps to construct
an airport in San Juan del Norte (currently only accessible by an eight hour boat ride
up the Rio San Juan). The airports will help these southern Atlantic communities
benefit from Nicaragua's tourism boom.
NOAH Phillips, a consultant and real-estate investigator for International Living
Nicaragua, says that several of the coastal projects on the Pacific are run by North
American or European owners, but many are being developed by Nicaraguan
landowners.


While the projects range in progress from near-done, to preliminary architectural
sketching ­ or just "brainstorming" ­ almost every plan that is being marketed is
attracting investors, Phillips said.
"These places are in a rush because they see the tourists coming and they say: let's
hurry up and divide lots and give them a place to buy," he said.
INTERNATIONAL Living conducts feasibility studies and due diligence checks on
all development projects, and the developers themselves. The organization does not
promote projects that don't pass due diligence.
Phillips says one of the best indicators of whether or not a development project here
passes the sniff test, is to inquire if they have title insurance. If they do, it means they
have conducted all the necessary steps to be insured by First American Title
Insurance in the United States.
While title insurance isn't a guarantee that the project will be pulled off as
advertised, generally, insurance companies don't make money by insuring risky
ventures.
BEACHFRONT development lots along the Pacific coast are currently selling for
$40,000 to $310,000, the upper-end price being for a sizable plot at Los Perros, one
of the newest and most exclusive development projects in Nicaragua (managed by
Rancho Santana), according to International Living.
While many of the development projects are selling lots with a purchase agreement
to construct, others, such as: Villas de Palermo; Iguana Golf Condominiums; Playa
Coco; El Club del Mar; and Marsella, are turnkey home or condominium projects.
Still others, such as Arenas, are set up in a payment-installment plan that requires
buyers to pay in increments as their home is built, with the last 20% paid when the
house is painted.
PHILLIPS says that a growing number of buyers seem to be: "North Americans
trying to escape the craziness of the United States," and buyers who have been to
Costa Rica and now are looking for more affordable markets.
Plus, he noted, many buyers are doctors, lawyers and other learned professionals.
"These buyers are people who are well educated," Phillips said. "They are people
who have been to school, done their homework, and have an optimistic view about
where Nicaragua is going."


are that: 1) it's cheaper, 2).more privacy. If you go it alone,
however, note that all the burden of infrastructure, finding a
water source, getting permits, finding an architect and building
will be on your shoulders.
Another consideration on the Pacific coast is unclear property
boundaries. On the Pacific coast, many of the lots don't have
what's called a catastral number. In other words, the dimension
of the lots have never been registered, which can lead to property
disputes later on by neighbors who claim to have overlapping
properties.
Rules for buying Property in Nicaragua
You do not have to be a Nicaraguan resident to buy property
here. But due to previously mentioned property conflicts and
tricky title histories, it is very important to find a reputable
realtor and lawyer before attempting to purchase property in
Nicaragua. First-time buyers especially are ill-advised to go it
alone and try to buy property directly from an owner: this could


potentially create future problems if someone else also claims to
be the rightful owner of the same property, or if you don't follow
all the necessary steps to purchase the property correctly and
register it in your name.
Several things to consider when looking at properties are:
1) Make sure there are no pending liens or court cases against
the property
2) Double check the location and boundaries of the lot in the
Registry's Catastro Office.
3) Make sure the seller is in fact the lawful registered owner of
the land or home you are attempting to purchase. Make
sure there aren't multiple deeds to the same property.
4) Make sure all back property taxes have been paid, or you
will assume that burden.
After you sign on the dotted line, you will receive a copy of the
testimony of the deed, which acts as a short-term receipt of sale
until the property is registered in your name. An inspector for
the municipality will then come out to assess your property value
for tax purposes (the assessment is always well under the market
value of your house).
After the property is registered in your name, which may take a
couple weeks, you will receive the original copy of the deed,
which should be secured in a safe place.
U.S. title insurance is available through First American, but it is
not always necessary. Ask your realtor if he or she recommends it
in your particular case.
Specific Steps To Buying and Registering Land:


Find a reputable real-estate agent and lawyer, of which there are
many.
A. Identify the property of your choice, usually by the
recommendation of a friend or a local real estate agent (who
earns a negotiable commission, usually around 7%). Be wary of
property that was confiscated by the government in the 1980s.
B. At this point, you may either hire a local attorney or proceed
on your own to ask the seller for a copy of the property's title
(escritura de propiedad), and the municipal government for
evidence that it has no liens on it (libertad de gravamen), and its
"certificado catastral." Often, owners are hesitant to provide
copies of titles. In such cases, you may ask the seller for the
information shown on the title (property number, volume
number, page number, entry number) or for a copy of the
property's registration (certificado registral) showing the last three
owners (los últimos tres asientos) and the absence of liens.
C. Next, have a lawyer review the documentation (escritura de
propiedad
, certificado registral, and libertad de gravamen) to verify
that the property's seller has clear title without liens or any other
sticky problems that will come back to haunt you.
D. After you have verified the land has no liens, a notary can
prepare a sales agreement.
E. After the transaction, you or your attorney may then register
the property in the Registro Público de la Propiedad
Inmueble. To be considered the legal owner of the property, you
should possess the property title properly annotated by the
registrar.





Real Estate Taxes
Real estate taxes are 1% of value of the property and are paid to
the Municipal Government. Property values are usually
dramatically undervalued at the time of sale, to ensure lower tax
rates.
Farmland of up to 30 manzanas (42.6 hectares) is exempted from
real estate taxes.
Insurance
U.S. title insurance agency First American Title is the only U.S.
firm that offers U.S. title insurance in Nicaragua.
http://www.firstam.com, toll free (887) 641-6767
Special Considerations for Buying Rural
Beach Properties
The agrarian reform efforts of the Sandinista government have
confused the issue of land title in much of the rural Pacific of
Nicaragua.
When buying property near the beach, it is imperative to find a
reputable real-estate agency and lawyer to make sure the property
you buy is cleanly titled.
There are two types of titles: possession (escritura positorio) and
domain (escritura publica). People who are occupying a land may
only have a title of possession, but not own the original deed to
the land. This means there could be someone else who also
claims to own the land. When purchasing land, you want to make sure to purchase the
title of domain, or escritura publica. A lawyer and real estate agent
can help you sort out which title is which, to make sure you don't
buy a property from one seller only to find out a year later
someone else also claims to own the same land.
Most properties on the coast also have tricky catastro numbers,
which means the property's boundaries are not properly
registered. Investigate these issues before handing over money to
the seller.
Special Considerations for Buying
Property in Granada
Many old colonial homes in Granada need major renovation
work before moving in. This includes new roofs, new electrical
wiring and new interior walls. In some cases, just about
everything must be gutted and rebuilt, as previous owners have
not had the funds to keep up with maintenance, and some of the
homes are built with 150-year-old adobe (60% of Granada's
Historical Center is built with adobe).
In the case of real fixer-ups, the rule of thumb is that you will
have to invest upwards of 70% of the sticker price of the home
into remodeling before you can move in. So a $65,000 home (of
which there are few left) might need an additional $30,000 to
$50,000 in major renovations and construction before it is ready
to live in, or resold for a profit. This (plus the headache and time
spend remodeling) should be considered when you are deciding
on buying a fixer-up, versus a $160,000 remodeled colonial that
is ready to move into.
Also, Granada has as strict building code to preserve its colonial
scheme. The city is divided into two sections: Historical Center


and area of Special Consideration ­ and each area has a different
building code.
For example, in most homes near the city's colonial center, the
front of the home or building cannot be altered in any way.
Roofs must be tiled, the front courtyard may not be altered
architecturally, and restrictions may exist on building a second
story. And at least 30% of the property must be left as open
courtyard, which means don't expect to move in and turn the
whole area into different rooms. Usually, major renovations,
including putting in a pool, must be restricted to the second
courtyard area.
In all cases, all plans to construct and remodel must be approved
by the city's architect, who works out of the municipal building
in front of the Central Park. You are wise to get a Nicaraguan
contractor or lawyer to get your building permits approved.
Showing your gringo face in the office is a good way to ensure
you will get screwed every step of the way.
Fines for "illegal" construction are common, but the municipal
government usually will not force you change your plans after
they are done. Some contractors here view the fines as an added
building expense, and do whatever they want, even if they don't
have the permits. If you do this, however, you risk facing work-
stop orders. The building codes exist to preserve the colonial feel
of the city, and the town architect warns foreign buyers that they
probably won't be able to buy a home in the colonial sector and
turn it into a U.S.-styled house. Buying a home here means
playing by the regulations. The town is trying to enforce these
regulations more than ever.


Steps for Remodeling a Home in Granada
Granada has a building code to protect its colonial style. The city
is divided into two sections, with a different building code for
each.
After learning what is allowed and what is not, you will be
required to do the following steps:
1. Find a general contractor, or Maestro de Obras, who will come
to the house to talk over ideas about what is
feasible/recommended, and what is not. Then he will give you an
estimate for labor and construction materials. Make sure he gives
you a detailed and itemized list of construction materials, which
you can then double check with the local feteria to make sure you
aren't getting gouged on material prices.
2. Find an architect who can draw up detailed plans, which
include all the current dimensions of the house and a layout of all
the current water and electrical systems. (The mayor's office
currently doesn't have any of this information, so it will take
advantage of your wanting to remodel to get blueprints of your
house). In some cases, you may have to dig up the floor to find
out if your home is connected to the sewer or to a septic system.
(Many old homes have septic systems in the back, but may have
been connected to the sewer system during the last 40 years. The
only way to know is to follow the toilet pluming and see where
it goes).
3. After you have your architectural plans, you must go to the
urban planning office in the Alcaldia and present them with: a) a
carta de solicitud (a form saying who you are, what you want to
do, and who's going to do it); b) solvencia municipal (the
document showing your property is free from liens and has all
back taxes paid); c) property titles; d) architects plans.


4. The office of urban planning will spend 2 weeks studying your
proposal, and send site inspectors out to your home to look
things over to make sure your plans are feasible and not in
violation of building codes.
5. After your plans are approved of generally, you must submit a
second set of detailed drawings, including information about
where the new electrical and water system will go, a price
estimate for construction, and the signature of the architect
responsible for the drawings.
6. The office of urban planning will then take another 2 weeks to
review the detailed plans, before giving you the building permits,
at which point you will have to pay a fee for each meter-squared
of construction.
Recommended People in Nicaragua
Real Estate Agent:
Frank Kersloot, of Remax Granada, is a very trustworthy,
hardworking, and no bullshit salesman who is fluent in English,
Spanish and Dutch. Frank can be reached at
mailto:remaxgranada@hotmail.com, or cell phone 505-880-
1283.
Prime Nicararagua Property (see thier ad in this book) is top-
notch firm.
*Prime Nicaragua Property (All of Nicaragua)
http://www.primenicaraguaproperty.com
mailto:robert@nicaraguaretirementproperties.com,
mailto:nicaraguaretirementproperties@yahoo.com
tel: 1-888-581-1786 toll free from U.S


Contractors:
Carlos José Menesus (cell 862-9430)
Julian Areano (cell. 884-2443)
John-Marc Gallagher (office 552-6458)
Architects:
Fernando Lopez (office located in Casa de los Tres
Mundos)
Prominent Nicaraguan Real Estate Firms:
For property listings and more information about Nicaraguan
real estate, visit the online magazine Nicaragua Tourism & Real
Estate Guide, www.nicaguide.com
Aurora Bienes Raices (Managua)
mailto:auroralacayo@yahoo.com
tel. 505-276-2500
Blandon Bienes Raices (Managua)
mailto:Blandonbienesraices501@hotmail.com
tel. 505-277-0297
Coldwell Banker (Granada)
http://www.cbnicaragua.com
tel. 505-552-2906
Discover Real Estate (Granada)
http://www.discovernica.com
tel. 505-270-4001
Futuros Bienes Raices (Managua)
mailto:futurosbienesyraices@yahoo.com
Tel. 505-265-8066


Global Real Estate (Managua)
http://www.globalrealestate-ni.com
tel. 505-270-2412
Granada Real Estate Company (Granada)
mailto:perkoff@cablenet.com.ni
tel. 505-552-7488
Gonzalez Pasos Real Estate (Granada)
http://www.nicaraguarealestate.biz
tel. 505-266-1000
Nicalandia (Granada)
http://www.nicalandiarealty.com
tel. 505-893-6401
Remax (Granada, San Juan del Sur)
http://www.nicaraguaproperty.com
tel. (Granada) 505-552-3198
tel (San Juan del Sur) 505-458-2256
Sniders Realty (Granada, San Juan del Sur)
mailto:lhuster@cablenet.com.ni
Tel. (Granada) 505-863-2460
Tel. (San Juan del Sur) 505-839-7977