“It’s not all of the promoters, but yes there are many that continue applying abusive clauses,”indicated Acodeco.
The Authority of Consumer Protection and the Defense of Competition (Acodeco) received last year 397 complaints of consumers against real estate companies.  Ramón de la O. Fernández, in the role of defending attorney for Acodeco, indicated to La Prensa that the entity has a “good record of won cases.  The judges have been rather fair with consumers but they still have to demand their rights.  The real estate companies are acting in a furtive manner,” he said.
Fernández indicated that the cases that aren’t won by the consumers are because they have expired.  Since Law 45 of 2007 went into effect, the lawsuits don’t expire until five years after the sales contract, “broadening the guarantees for consumers”.
When the client presents a complaint at Acodeco, the entity calls the parties to conciliation.  If there is not an agreement, the consumer can resort to ordinary justice either with the defensor or with a private attorney.
The problem for the consumer is that the process can take a long time, and when someone buys a residence they want it quickly.  So time is in favor of the real estate promoters. “But it’s always good to present protests,” he said.
Osvaldo Marchena, president of the Panamanian Association of Brokers and Promoters of Real Estate said that, “the group tries to mediate the case in case someone has disagreements with a member”.  Marchena defended the good work of the promoters.  They “search for good practices because they aren’t in the industry for one day,” he clarified.
“It’s not all of the promoters, but yes there are many that continue applying abusive clauses,”added Fernández.