|
Buying real estate can be a big decision no matter where it is in the world and we here at Century 21 Tropical Breeze Realty are here to make your purchase and transition as smooth and easy as possible. In an effort to make your Costa Rica real estate purchase a positive and rewarding experience, we will do our best to educate you as much as possible throughout the process and the following information provided should be very helpful.
As a foreigner looking to buy property in Costa Rica keep the following information in mind.
-ALWAYS WORK WITH A REAL ESTATE AGENT IN COSTA RICA FOR YOUR PURCHASE. THE OFFICE AT C21 TROPICAL BREEZE REALTY HAS BEEN IN COSTA RICA FOR ALMOST 15 YEARS AND WE HAVE BECOME THE INDUSTRY LEADER IN SELLING REAL ESTATE ON THE PACIFIC COAST.
-AS A FOREIGNER, YOU CAN RECEIVE TITLE TO A PROPERTY 100% THE SAME AS A COSTA RICAN NATIONAL CITIZEN WITH FULL RIGHTS OF OWNERSHIP. YOU DO NOT NEED RESIDENCY NOR CITIIZENSHIP TO OWN PROPERTY IN COSTA RICA AND CAN EITHER BUY IN YOUR PERSONAL NAME OR AQUIRE A COSTA RICAN COMPANY FOR THE PURCHASE OF THE PROEPRTY.
-ALL REGISTERED TITLE PROPERTY ARE RECORDED IN THE NATIONAL REGISTRY IN SAN JOSE WHERE BOTH TITLES AND PLANOS (CATASTRAL SURVERYS) ARE REGISTERED. WE AT CENTURY 21 TROPICAL BREEZE HAVE ACCESS TO THE REGISTRY AND CAN CHECK PROPERTIES FOR ANY CLAMES, LIENS, ENCUMBRANCES THAT MAY AFFECT A PROPERTY.
-THE PURCHASE OF A PROPERTY IS EXECUTED VIA A LETTER OF INTENT AND WHEN AN OFFER IS ACCEPTED VIA A PURCHASE AND SALES AGREEMENT. THIS PROCESS IS STARTED THROUGH ONE OF OUR BROKERS AT CENTURY 21 TROPICAL BREEZE REALTY AND THEN FOLLOWED UP WITH THE ASSISTANCE OF A COSTA RICAN LAWYER.
-TYPICALLY A DEPOSIT EQUIVALENT TO 5 TO 10 PERCENT THE ASKING PRICE IS NEEDED TO BE DEPOSITED INTO AN ESCROW ACCOUNT UPON THE ACCEPTANCE OF AN OFFER AND THIS IS NORMALLY DEPOSITED WITIN 10 BUSINESS DAYS ONCE A PURCHASE AND SALES AGREEMENT HAS BEEN EXECUTED.
-IF A BUYER REQUIRES FINANCING IT IS TYPICALLY DONE THROUGH EITHER OWNER FINANCING OR WITH THIRD PARTY LENDING. THERE ARE A COUPLE OF DEVELOPMENTS IN THE AREA WITH BANK FINANCING IN PLACE AND IN CERTAIN CASES THESE BANK LOANS CAN BE TRANSFERRED OR ACQUIRED TO THE BUYER.
-THERE ARE SPECIAL LAWS REGARDING OWNERSHIP OF BEACHFRONT PROPERTIES KNOWN AS THE CONCESSION PROPERTIES. THE FIRST 50 METERS FROM THE HIGH TIDE ARE CONSIDERED IN ALIENABLE. PAS THE 50 METER MARK BACK 150 METERS IS PROPERTY EITHER CONTROLLED BY THE LOCAL MUNICIAPLITY OR THE ENVIRONMENTAL BRANCH OF THE GOVERNMENT. IF THIS PROPERTY IS CONTROLLED BY MUNICIPALITY A CONCESSION OR LEASE IS GRANTED TO A PERSON OR COMPANY TO DEVELOP THE LAND. A COSTA RICAN MUST BE AT LEAST 51% OWNER OF THE CONCESSION.
-THERE ARE CURRENTLY NO CAPITAL GAINS TAXES ON THE SALE OF A PROPERTY IN COSTA RICA.
-IF YOU HAVE ANY SPECIFIC QUESTION REGARDING THE PURCHASE OF A PROPERTY IN COSTA RICA PLEASE SEND US AN EMAIL OR CALL US AT 1-800-346-8142 AND ONE OF OUR PROFESSIONALS WILL TEND TO YOUR REQUEST.
|