Guidelines to Close on Costa Rica Real Estate

Closing a real estate deal is usually a very relieving time for everyone involved. However, if you are a foreign buyer attempting to close on Costa Rica real estate, you are going to need guidance to make sure that the deal is really closed, and that you have not been scammed. Although the locals are friendly and embracing, the law regarding Costa Rica real estate is very intense and some of the locals will purposely scam you if you do not come prepared with the proper guidance. In fact, due to the extent of the laws detail, you could walk away with the house deed and still not have purchased the Costa Rica real estate you have paid for.

When you are closing a deal there are two things you want to check very specifically, because they are two things that can influence rather you really own the property you think you just closed on when buying Costa Rica real estate. The first is that there are no tax liens left on the property. If there are tax liens on the Costa Rica real estate, than the property sale will not go through at the governmental level, and in the six months it takes to process, the seller can disappear with your money. Thus you end up with no money and no property.

You also want to make sure that you are given a deed with the seller’s name on it that matches the records of the property in the official law records. Your lawyer and/or real estate agent should have checked this before you close on the Costa Rica real estate, but you need to be sure yourself. If the deed does not match the one the government has on file, you also do not own the Costa Rica real estate even if you did pay for it.