Costa Rica Real Estate – This is part of our series on buying real estate in Costa Rica. We hope to provide information needed to make an informed decision about purchasing land, condos, houses or commercial property in Costa Rica. If you want more information about this property or buying real estate in general you can request the free e-book, “Secrets of Buying Real Estate in Costa Rica”
More and more retirees and people in different walks of life who want a fresh start and a stress-free life are migrating to Costa Rica for many reasons: agreeable climate all year round, low cost of living, beautiful and unspoiled environment, friendly people and peaceful nation.
No matter what your reason is, if want to purchase a property and live in this exotic tropical paradise, follow the simple tips we have prepared to make your experience a wonderful one.
* Fall in Love With the Place – Be it that you are looking for a retirement home or an investment property, before paying for it make sure that you love the town and the property. If you like the place, odds are other people will like it too.
* Visit the Area – Before buying a property in a certain area, it is highly advisable that you visit and have a feel of the place first. You can rent a property that appeals to you most and experience living in the area first hand so you can make an informed decision when making your purchase.
* Transact with Professionals – Currently, there is no licensing of realtors in Costa Rica but that does not mean that you cannot find experts in this field. You just have to look for a reputable realtor with a proven track of record and have worked in the area for a long time. Make sure that the realtor you will hire is a member of a recognized real estate association, in good standing with other members, have undergone proper and thorough training and have a clear understanding of the complexities of the real estate market. Lastly, your realtor should be an owner of a property in Costa Rica to ensure that he or she is really qualified to give a sound piece of advice.
* Provide as Much Information as you can to Your Realtor – It would be a great deal of help to your realtor if you provide him/her all the things you need and are looking for in a property as he/she can easily locate a good value property that would fit all your requirements. Doing so would save you time and resources since your realtor can zero in right away on different options for you to consider.
* Involve Your Realtor – Since there is no official multiple listing service in Costa Rica everyone is a realtor in one way or another and sometimes someone you have just met may let you know of certain properties you may be interested in. Do yourself a favor and let that person know that you are being represented by a real estate agent and get them involved in the process. Professional realtors can easily spot if the property is worth looking at.
* Perform Due Diligence – Usually the realtor is responsible for performing preliminary due diligence before presenting you with a list of properties you can choose from. This is a critical step that is repeatedly neglected by most real estate agents in Costa Rica that results to costing you valuable time. The detailed and extensive due diligence should be performed by your real estate lawyer or a public notary to ensure that everything is in place.
* Be Cautious – As the saying goes “if it’s too good to be true” then it is not to be believed in. Be wary because just like in the country where you came from there are also bad apples in Costa Rica. Just trust your instincts just like what you usually do at home, if something seems amiss then don’t be afraid to ask.
* Enjoy and Have Fun! – Buying a property should be full of adventure and fun. Remember that you are buying property and staying in Costa Rica to start a new life free of hassle and stress; you are here to live the “Pura Vida” lifestyle.
Types Is the Property Really for Sale?
What is the Maritime Zone?
Myths About Squatters
Construction, Architects & Engineers
Purchasing Under a Corporation
And so much more……..