About Costa Rica real estate listings
Maybe you have heard that Costa Rica real estate is sky high? In some places that is true.
Costa Rica property on the beach can not be classified as a buyers market but I would consider almost all of the rest of the country to be so.
Typically, property asking prices are generally ridiculous and vary tremendously from property to property and agent to agent. Many purchases are completed at well below the asking price.
Caribbean property is much cheaper than on the Pacific side but infrastructure is minimal compared to the Pacific coast, although new five star resorts are in the works in the central and southern Caribbean coastal areas.
If you like the beach, a smart Costa Rica real estate option, in my opinion, would be a coffee plantation or farm purchase near the beach but at a higher elevation. This allows close proximity to the beach and possibly even an ocean view but provides a cooler climate for temperate living.
Some parts of the Pacific coast are just plain hot and humid compared to others. Make sure that you research and truly experience the climate and infrastructure in the area of your planned Costa Rica real estate purchase.
I think that Costa Rica real estate offerings provide more diversity in climate and environment than anywhere else in the world. The choices are endless!
A typical transaction purchasing Costa Rica property involves a set of rules not found in North America, Australia, or England. Here are some recommendations to help you get started on the right track selecting Costa Rica land and improved property.
- Using recognizable Fortune 500 Name
Any company that copies a recognizable name (and changes it slightly) stops me cold. Don't allow any company to develop trust (subconsciously) by using some other large company name. - They are going fast
If anyone tries to pressure you into making a major decision like purchasing real estate by any means run, don't walk to the nearest exit. - Everyone is a Realtor in Costa Rica
There are no licensing requirements to sell Costa Rica real estate. There is no formal MLS (multiple listing service). - Gringo price and asking prices in general
If you are a tourist you are rich. That is how many locals feel regarding foreigners. Everyone is loaded and can afford to pay any price. It is typical to find the Costa Rica real estate for sale listed by different agents for vastly different prices. (Gringo is not a derogatory term in Costa Rica, it just means North American!) - Promises of future development
Never buy anything because of planned development or stories told about the future. Purchase property with the idea that nothing will change, because things move slowly in Costa Rica. - Titles and liens
There are title guarantee companies available when purchasing Costa Rica real estate. You must make sure that : - The owner is really the owner
- the title is clear of liens & in good order
- the property is zoned for your intended use
- If building make sure property restrictions allow you to build the size structure you have planned on your Costa Rica real estate.
- Beach front purchases
- Appraisals
- Squatters
- Civil (Napoleonic) law and Costa Rican jurisprudence
Never ever purchase anything (including a car) without making sure the title is clear and the owner is the person you are paying. A Costa Rica real estate purchase is a safe transaction with proper precautions.
Always hire a respected lawyer to make sure everything is on the up and up. Legal fees are comparatively cheap in Latin America.
We don't sell Costa Rica real estate or any properties. If you need help locating a good English speaking lawyer to help you avoid pitfalls use this link Costa Rica real estate to contact us. We will help you find a respected knowledgeable lawyer that can tell you what your legal cost will be to ensure your purchase of real estate in Costa Rica goes smoothly.
Make sure you know about the Shoreline Zone laws applicable to Costa Rica beachfront property.
Don't trust a sellers appraisal. Get your own appraisal from a reputable firm. Published "living area" includes the garage and terrace associated with most Costa Rica real estate.
Did I get your attention? Do not purchase and leave your property unattended for months on end. Although I have heard of purchasers successfully leaving for home and returning months later with no ill effects, don't do it. Squatters have successfully homesteaded themselves in this manner here for years. If you plan to leave have someone check on your property regularly so that intruders can be removed quickly if they squat on your property.
Without getting too technical here (I am not a legal expert) I will say that the Costa Rican legal system operates slowly even by North American standards. Don't place yourself in the position of being in a terribly slow judicial action with a local, period.
I know what you are thinking. The author doesn't want anyone to purchase Costa Rica real estate or improved property at all!
Many Costa Rica real estate transactions are successfully and easily completed daily by savvy people that know the rules, take their time, and find the right people to help them.
Do you have a Costa Rica real estate question that we didn't answer? If so, please contact us and tell us about it. This will help you find the answer you are looking for and also tell us about information missing on our site!
