Costa Rica News – This might be a decent way to find yourself a car or property at a discounted rate in Costa Rica. We all know that in the USA when banks are selling off assets that have been repossessed from the owners, you can get good deals.
Banco National Costa Rica will sell property acquired by the company at a discount of up to 25% of its market value. Let’s hope they do not pull a typical Costa Rican selling technique where they increase the appraisal value by 25% before listing it.
This category includes all real and personal property that has been repossessed for lack of payment.
In addition, the bank offers the opportunity to purchase these goods (cars, houses and lots, among others) with a fixed-rate loan. The interest rate is range between 5.5% and 8%. The periods range from 20 to 30 years.
According to the bank, these assets can be viewed as an investment by its prospective buyers as these have the ability to complete the development that the bank will sell, and rent or sell it, or buy the property as is and sell it a higher price.
Banco Nacional is also organizing a property exhibition will take place during the month of August, Santa Cruz, Guanacaste.
They will feature: lots, houses, lots, condominiums, shops, estates and tourism projects.