So you are looking for a house
Facts about purchasing your property in paradise
Purchasing property in Costa Rica is pretty transparentBuying property in Costa Rica is a procedure that is pretty transparent. The information below can allow you to comprehend the purchase process, and our team of committed and knowledgeable Re/Max Costa Rica representatives is, also, available to answer your questions and streamline the encounter should you decide to go ahead with buying property in Costa Rica. Please feel free to contact us without obligation for advice.
It’s possible for you to own property in the name of your corporation or your name. Where special rules apply, you don’t need a local partner, except in cases of beachfront concession property. Nearly all buyers form a corporation with the help of a reputable lawyer after which buy property through that business, although there is certainly nothing to keep you from buying Costa Rica property in your name. The reason for this is. Of course, this is dependent upon the tax laws of the state from which you originate.
The Real Estate log
A benefit for property purchasers in Costa Rica is its first land registry that allows your attorney to support that there’s clear title to your property, also, to discern if there are any limitations on the ownership before the deal goes through. Also, appealing is Costa Rica’s low property taxes – 1/4 of 1% per annum.
The way to Pick an Agent
The real nuts and bolts of purchasing are much like those in North America. Since current rules and regulations govern international franchises, dealing with a real estate company you understand can supply added security. Additionally, learn if your Costa Rica real estate agent lives in the community where he or she’s working. Do they understand the local market? Are they owners themselves More to the point, work with a realtor with an excellent reputation. Among the best means to find someone you can trust is just to ask around.
Also of importance in the process will be to procure your lawyer to represent your interests in a property purchase. Your lawyer should assess the title on your property in the central registry, and may also assist with opening bank accounts, forming corporations and doing other business related to the land purchase.
Come especially with the purpose of buying Costa Rica Real Estate. Whatever your situation, the purchase process can be simplified by dealing with professionals.
What’s the process for making an offer? First, you and your broker will write an offer that suits your situation. Either the seller will accept the offer or discussions will ensue regarding cost, terms or both.
The buyer and seller have to come to the agreement and have signed the contract, a deposit needed. This may be negotiated according to the situation of the purchaser’s, although the regular period for deposit is two weeks. All funds should be held in government documented escrow account. It is not unusual for sellers and buyers to use third party firms like Stewart Title for escrow functions.
Final closing would usually be anywhere from 30 – 60 days after both parties agreeing to the terms and signing the contract. If you have to borrow funds, it is usually easier, and interest rates are usually lower in your home country.