Costa Rica News – Those looking to purchase a home or property have a unique opportunity this weekend. Three public banks offering properties are holding an event at Citi Mall in Alajuela today from 1 to 8 pm and tomorrow from 1 to 6 pm.
The homes are very reasonably priced, for example, there is one in Cañas, Guanacaste for just ₡41,265,364 or about $80,000.
Each bank has different rules for bids and purchases. In general, around 5% of the amount offered, whether in cash or by financing, must be available upon signing, as a guarantee. Some of the homes can be visited in person and the 5% paid in a few days.
Some can be purchased on the spot, if there is no competition.
Some precautions should be taken at these types of auctions. Take note of whether the previous owners have already left the property. Also be aware of whether the property has been offered at previous fairs.
This may mean a lower bid can be accepted.