Thread: CONTRATO DE PROMESA DE COMPRA VENTA DE BIEN INMUEBLE(vendedor tiene hipoteca su finca

El saldo restante del Precio de Venta, es decir, la suma de....,moneda de curso legal de los Estados Unidos de América, serácancelada así:Mediante cartas irrevocables de pago emitidas por un banco de la localidad, con licencia general para operar en la República de Panamá, una a favor de ...BANK por el saldo adeudado de la hipoteca, y el resto a favor de EL PROMITENTE COMPRADOR la cual será entregada a la firma de la Escritura Pública de Compra-venta. Dicha carta será pagadera una vez LA FINCA quede debidamente inscrita en el Registro Público de Panamá, a nombre del PROMITENTE COMPRADOR.
This clausula is ok?

CONTRATO DE PROMESA DE COMPRA VENTA DE BIEN INMUEBLE(vendedor tiene hipoteca su inmueble

As I understand it (and boy, could I be wrong), the buyer procures an irrevocable letter of credit from a Panama bank for the amount of the sales price (presumably reduced by any prior deposit) and this L/C is given to satisfy the seller's mortgage on the property. The balance, after paying off the mortgage and recordation of the deed, is then paid to the buyer. The buyer? WTF? Shouldn't it go to the seller?

Originally Posted by BalaBeacher

As I understand it (and boy, could I be wrong), the buyer procures an irrevocable letter of credit from a Panama bank for the amount of the sales price (presumably reduced by any prior deposit) and this L/C is given to satisfy the seller's mortgage on the property. The balance, after paying off the mortgage and recordation of the deed, is then paid to the buyer. The buyer? WTF? Shouldn't it go to the seller?

after the seller has "la minuta de cancellcion de hipoteca",can give up to sign the bill of sale?

Maybe the buyer signs over the letter at closing. Ie, bank->buyer->seller.