Costa Rica Buying
 If you are buying property in Costa Rica, you should always solicit the services of a reputable and well-respected real estate company. There are many "Street Realtors" who are more than willing to show properties and seeking a sales commission, yet lack the resources and knowledge necessary to provide you with information critical to complete a legal and successful transaction. Do not think you will get it cheaper by using anybody else who is helping you with the purchase. It is like an unwritten law in Costa Rica that everybody has the right to ask a commission by just bringing buyer and seller together.
The services of a professional real estate company can be invaluable when you are buying property in Costa Rica, both during and after the purchase. Choosing the right agent will help you to build your knowledge of the area and compare values of properties. will provide the experience and expertise to answer all your questions.
Owning property in Costa Rica is much more than just having a deed. Possession is nine-tenths of the law in this country.
In Costa Rica, most land is titled, and titles are registered and centralized at the offices of the Public Register in San José. Most titles are currently organized by the means of a computer system called "Folio Real", although some of them, especially the ones for properties that have had no transfers or other transactions affecting them for a long time, are not organized in the computer system and are still registered in an older fashion, which refers to specific books, pages and entries of hard records at the Register.
When buying property in Costa Rica, property is transferred from seller to buyer by executing a transfer before a public notary. Unlike common law countries, such as the United States and Canada, where the role of the notary is limited to authenticating signatures, in Costa Rica the public notary has extensive power to act on behalf of the state. The public notary must be an attorney and she or he may draft and interpret legal documents, as well as authenticate and certify the authenticity of documents.
Property transfer require for buyer and seller to sign a deed before a Costa Rica Public Notary (whose concept is different than the one in many other countries such as the United States, Canada or the United Kingdom and is required to formalize all transactions dealing with real estate) and for such deed to be recorded at the Public Register.
Having selected your ideal property in Costa Rica, you will want to be absolutely certain of the legalities of the purchasing process, and particularly your rights in a foreign country. This is where will ensure that you have expert assistance and will guide you through each step of the buying process. When you have decided on a certain property the first step is to deposit a small amount in order to take the property off the market and reserve it until the remaining steps have been completed.
Once a transfer deed is accepted for registration, the Public Registry will return the original document with all the documentary stamps affixed to it and properly sealed. Assuming no defects in the transfer deed, it should be registered by the Public Registry within 45 to 60 days after presentation.
Always be sure to include any obligations promised by the owner (water, road access, etc.) in the written agreement. If the promised time for completion of these obligations is considerable, request an amount of the purchase funds to be held by the attorney until the obligations have been met. Check if all taxes on the property have been paid up to date.
Costa Rica Real Estate has served as a buyer's agent many times and will be glad to assist you. We can offer you a professional service during the whole purchase process. We have also worked as an intermediary where seller and purchaser contracted us in order to help with the negotiation and purchase.
Click here If you want to know more about costa rica real estate
|
