For buyers
Buying a home in Bacalar or Panama City: questions answered
Clear answers on availability, prices, foreign ownership, purchase costs and timelines for the 404 Estate portfolio in Bacalar, Mexico and Panama City, Panama.
- What is 404 Estate?
- 404 Estate is a boutique residential property portfolio operated by ERROR 404, S.A., a company registered in Panama. It holds and places homes in two markets only: Bacalar in Quintana Roo, Mexico, and Panama City, Panama, with a focus on the historic Casco Viejo quarter.
- Which properties can a buyer purchase right now?
- Five holdings are open to inquiry. In Bacalar: Aldea Mayab, a 150 m² two-bedroom, two-bathroom apartment on the second floor with pool, gym, terrace and roof top. In Casco Viejo, Panama City: PH 102, a 55 m² apartment on the second floor in the centre; Casa Balcón, 96 m² with a balcony over Plaza Catedral; Loft Calle Tercera, a 68 m² one-bedroom loft; and Mirador Catedral, a 142 m² top-floor home with a roof terrace. Further holdings are released as their documentation completes.
- How does a buyer inquire about a property?
- Use the inquiry form on any property page or the contact page, or write to info@404estate.com. Each inquiry reaches the portfolio directly, without listing agents or intermediaries, and is answered by email, usually within two business days.
- Are prices published on the website?
- Some holdings show an asking price on their page; for the others price is shared on inquiry. Each holding is placed with a small number of qualified buyers, so terms and full specifications are confirmed in direct correspondence.
- Can a foreigner buy property in Mexico and Panama?
- Yes. In Panama foreign buyers hold title on the same terms as nationals. In Mexico, property within 50 km of the coast — which includes Bacalar's lagoon area — is held by a foreign buyer through a bank trust (fideicomiso) or a Mexican company; both are ordinary, well-established structures. 404 Estate introduces buyers to independent local counsel and does not provide legal or tax advice.
- What are the typical purchase costs?
- Budget for closing costs in addition to the purchase price: notary and registration fees, transfer tax, and legal fees. In Panama these commonly total roughly 3–5% of the price; in Mexico, including the setup of a fideicomiso, roughly 5–8%. Exact figures depend on the property and are confirmed in writing before signing.
- How long does a purchase take?
- From accepted offer to registered title, a straightforward purchase takes about 30 to 60 days in Panama and about 60 to 90 days in Mexico, mainly depending on trust setup and registry timing.
- Can a buyer visit the properties in person?
- Yes. Viewings in Bacalar and Casco Viejo are arranged directly with the portfolio once an inquiry is received. Where travel is not practical, a guided video walkthrough is provided instead.
- Can the properties be rented out?
- Both markets have established short and long-term rental demand: Bacalar draws lagoon tourism and Casco Viejo draws city and business visitors. Rental permissions depend on the individual building and local rules, which are confirmed for each holding before purchase.
- Are the coming-soon holdings available to reserve?
- No. Holdings marked in preparation cannot be reserved. Their locality is disclosed, while specifications, imagery and price stay withheld until review and documentation complete. Register an interest and you are notified at release.
- Does 404 Estate charge buyers a commission?
- No buyer commission is charged on portfolio holdings. 404 Estate acts as the holder, not as a broker, and there is no intermediary chain between the buyer and the property.
- In which languages can a buyer be assisted?
- English, Spanish and Italian, in writing and in person. The website, documents and correspondence are available in all three languages.
A question that is not answered here?
Write to the portfolio directly and you will receive a reply by email, usually within two business days.