Tag: money

What do to with the Earnest Money Depositiconwht

Real Estate FAQ #3 | What do to with the Earnest Money Deposit?

Estimated Reading Time: 3 Minutes What you should do with the earnest money deposit is a real estate FAQ or frequently asked question for those buying or selling Costa Rica real estate. This question arises because, in Costa Rica, it’s customary for the buyer to give the earnest money to the seller. Local buyers rarely…

Continue reading
Can You Retire on Social Security in Costa Rica?iconwht

Can You Retire on Social Security in Costa Rica?

Estimated Reading Time: 10 Minutes Is it possible to retire on social security in Costa Rica and live comfortably? Retirees on U.S. Social Security, or Canadians on the Canada Pension Plan, seem to be attracted to moving to our beautiful country (I, too, hate cold winters!) I often receive emails from future retirees asking if…

Continue reading
iconwht

Do you still have to pay the mortgage after your house was destroyed?

Most homeowners in Costa Rica don’t even think about fire and earthquake insurance and if they still have to pay the mortgage after their house was destroyed. You own(ed) a house in Costa Rica. This house was destroyed by a natural disaster or fire and you are paying a mortgage. What should you do? Can…

Continue reading
iconwht

Is the mortgage rate in Costa Rica damaging the economy?

Did you know that the mortgage rate in Costa Rica is outrageous? I pay 9.5% interest rate on my mortgage in U.S. dollars! Politicians have been debating, due to the elections 2018, about economic solutions for the last few months. Because the government needs money. Don’t we all? Now that Carlos Alvarado of PAC was…

Continue reading
iconwht

Double accounting customary on investment property in Costa Rica

Many businesses and investment property in Costa Rica have a double accounting system. One is for the tax authorities and another for the business owner. Naturally, there is a significant difference between the official records and the reality. Investors who find an interesting investment property online, first send an email to the listing agent. That…

Continue reading