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: 7 Minutes Do you know who is responsible for the condition of the house is in on the closing day? You probably think that’s an easy question to answer. But it really is not, because it depends on the circumstances. This time, the circumstances were quite common: a house that has been…
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…
When you purchase or rent Costa Rica real estate, you might inherit Costa Rica utilities such as a water and power meter from someone who isn’t even alive anymore. Costa Ricans, when they purchase a property, they will leave the utility services like power and water in the former owner’s name (or several owners ago). The power…
Today is a big day; it’s the closing day on the property you are buying in Costa Rica. Some details were forgotten by the different parties involved, so I thought to give you a few Costa Rica real estate recommendations. The last two weeks have been hectic since organizing moving to a new house is always…
Is it a good idea for a buyer to make repairs prior to closing or not? In Costa Rica real estate, it is customary to buy a home for sale “as is”, but should you negotiate this or not? It is easy to include a home inspection contingency into your offer, which is not always…
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…