About The Owners
Please do not be intimidated by this website. We are not realtors or property developers. The owners of The Ranch have owned a surf tour company located on Nicaragua’s central Pacific coast for the past 4 years. In the meantime, we developed our skills with websites and are currently in the process of launching a small business advisory firm, which will include website design, building and optimization services.
Location
The Ranch Nicaragua is located on the Pacific side of a peninsula known as Isla de las Penas, across from Puerto Sandino. It is accessible by road from Salinas Grandes, 15km north, and by boat across the estuary from Puerto Sandino. Both Salinas Grandes and Puerto Sandino are approximately 1.5 hours from the Augusto C. Sandino International Airport (MGA) in Managua.
The Property
Please access this link to see the registered plat of the land.
If you save this document to your computer, you can rotate your view clockwise for easy viewing:
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The Ranch Nicaragua has a total area of 1.3 manzanas, which are equal to 2.3 acres. It has 110meters (330 feet) of beach frontage, and is an average of 100 meters (300 feet) deep. The southern portion of the property sits approximately 20 meters (60 feet) above sea level and slopes off gently to the north to approximately 5 meters (15 feet) above sea level. The property has private beach access, 270 degree views of the beautiful Pacific Ocean.
There are 15km of wide open, uninhabited beaches to the north and south of The Ranch Nicaragua, a beautiful reef and rock shelf with tidal pools, excellent fishing and shell hunting just south, and access to the incredible estuary system within 5 minutes across the estuary to the east. The surrounding land is almost completely uninhabited, providing opportunities for hiking, wildlife viewing, kayaking in the estuary and more!
Title and Registration
The Ranch Nicaragua has a fee-simple title that is one of the oldest and strongest in Nicaragua. Title insurance on the property is available through Fidelity National Title Insurance Company (www.fntic.com). The Ranch Nicaragua has been through the ENTIRE process listed below, and in addition has its “Letter of No Objection” signed by the municipality. This additional step is one that has evaded MANY properties in Nicaragua for years, holding up the final registration process, but in the case of The Ranch Nicaragua, the process was completed without problems.
What does all this mean?
Because The Ranch Nicaragua was completely, legally and thoroughly registered in the name of the current owner only 18 months ago, the process for prospective buyers will be really quite easy. Essentially, the older the title on a piece of land is, and the more times the land changes hands legally, the stronger the title becomes, which make the process of transferring the title to another person that much easier.
Additionally, The Ranch Nicaragua is held within a Nicaraguan corporation (Sociedad Anonima or SA in Spanish), which can be transferred/sold to a prospective buyer. This streamlines the process of the sale, as the sale of the corporation is even easier than the sale of the land that the corporation holds. No need for new title, registration, etc. Just transfer of the corporation to the new owners.
What is the process for purchasing property in Nicaragua?
Please note that all documentation must, by Nicaraguan law, be in Spanish to be valid and acceptable to the registration office and Nicaraguan courts. Also, when purchasing a property in Nicaragua you will need the services of a qualified attorney. You cannot purchase property without the assistance of an attorney.
Assuming that your ideal property has been found, you’ve made and an offer that has been accepted, the sales contract negotiated and signed (Promise of Sale or Promesa de Venta), then the lawyer steps in and the process of legal due diligence begins. With some of the work being done simultaneously, the main steps in buying real property in Nicaragua are:
Phase 1: Due Diligence Time Period
A. All original documents and documents in the current owners name are reviewed by the attorney for irregularities, proper registration, true ownership, etc. These documents are:
1. Title Deed (Escritura): This document should be in the name of the current owner of the property, the party with whom you signed the sales contract, and be duly registered. If there are any questions or irregularities with this document, then the lawyer must do a more in-depth check to answer and solve those questions.
2. Property Boundary Survey (Plano): The boundary map needs to be checked against what is on file with the county office to insure that it matches the record. It is always a good idea to have a surveyor check the property boundaries.
3. Property History (Historia Registral): The history of the property must be checked as far back as possible, but at a minimum, through 1982, when the Nicaraguan government land reform took place, but hopefully, exceeding this time and going as far back as possible. This historical record of ownership verifies the current owner’s claims to title.
4. Property Liens (Libertad de Gravamen): This document shows if the property has any issues that might prevent or affect a legal sale of the property; such as previous promises of sale, any liens or mortgages, pending legal cases, etc.
5. Municipal District Settlement Document (Solvencia Municipal): This document shows the state of taxes on the property and lets the lawyer know whether all taxes have been paid to date. If there is any amount outstanding, the Seller is required to pay these prior to the close of escrow and provide the lawyer with a ‘clean’ solvencia.
6. Other Contractual Terms: Any additional terms and conditions of the contract of sale.
B. After these original documents have been reviewed and the lawyer gives his approval, the second half of the attorney’s job begins:
1. Title Deed (Escritura): A new deed showing title being held as you have directed will be drawn up by your attorney.
2. Property Boundary Survey (Plano): A new boundary map will show your name.
Phase 2: The Closing
Steps 1 and 2 above are all completed within the given time frame dictated in the sales documents. The majority of closings happen within 30 days.
At the Closing, both the buyer and the Seller will be present or represented by a person with a Power of Attorney.
Both the buyer and the Seller will sign the new deed (new escritura), showing the buyer as the new owner, and witnessed by their attorney.
At this time, all of the funds, minus all agreed upon closing costs, for the purchase of the property will be transferred from the buyer or an escrow acount to the seller.
Phase 3: Post Closing
Following the signing of the closing, the attorney will take the documentation to the Office of the Registry (Cadastral Office) in the county where the property is located. This process may take 3 to 6 months. The length of time depends on how busy the office is.
