Estimated Reading Time: 4 minutes The Costa Rica closing costs when purchasing or selling a property is just under 4% of the purchase price. When you research, you will find blogs that say 3.5% and others even less. Learn in this article about closing costs, how to calculate them, and who pays for them. It…
The safest way to buy real estate in Costa Rica is through escrow services.
These services are a secure way to transfer funds between a seller and a property buyer. The escrow company is a third party that handles these funds in return for a fee. This fee is usually 0.25% of the funds to be wired, with a minimum of $900.
Estimated Reading Time: 6 Minutes As a foreign buyer, you should know a few important facts about Costa Rica Real Estate. Many foreign buyers assume that real estate here functions the same as it does in their home country. Wrong! Although Costa Rica offers an incredible variety of places to retire or make your home,…
A reader who did not receive title documents at closing is now unsure about the title of her property. She commented on an article in the Tico Times: I purchased land in Costa Rica about 4 years ago I only have “la carta catastrada” and a letter from the notary public. I have to pay…
There can be many reasons that you would want to do a title search by property number of your Costa Rica real estate. You want to make sure you own a clear title. Or you want to look for a property that you inherited. Or you are looking for that condo you think your husband…
A few days ago I received an email asking for legal consultation with a well-known Costa Rica real estate lawyer who has written some guest blogs for us. Because we have over 350 blogs about Costa Rica real estate and many other topics on our website, I get a lot of emails with requests. Some…
Can someone purchase (or sell) in my name in Costa Rica? I am not able to be there in time for the closing. This is a pretty common question we receive from clients. You are ready for your retirement in Costa Rica. Probably you have found the Costa Rica real estate you would like to…
The proceeds of a property closing in Costa Rica need to appear correctly in a deed. Why is that? I had what looked like a simple closing and it almost turned into a nightmare. That happened because the rules are changing. After closing, the seller deposited the proceeds of the sale in her local bank…
At every Costa Rica real estate closing, the role of the closing attorney should be clear. Each real estate agent works different and usually many details are left to the closing attorney. And the choice of a closing attorney is not always in the power of the real estate agent. In a cash purchase, the…
The Attorney Closing Fees are usually split 50/50 between buyer and seller unless negotiated differently. The Real Estate Agent should ensure that the real estate commission agreement is specified within the Buy-Sell Agreement signed by the Buyer and the Seller. Nonetheless, the agent should also include provisions which contemplate a commission split in the event…