Helpful Guidelines for Completing your Costa Rica Real Estate Investment

Closing a deal on your new Costa Rica real estate investment can be a lengthier process than you may be used to in America or European cultures. While the government resembles the democracy of the West and the culture reflects this as well, there are several key differences regarding Costa Rica real estate law and the way a property deal is closed in the region. You will want to know about the proper process for closing Costa Rica real estate deals and the property taxes included so that you do not get scammed.

One of the key things you need to understand about Costa Rica real estate closing is that you will not be given a sale deposit, but instead will sign a pre-sale contract notarized by your lawyer along with the seller. This piece of paper documents that you and the seller have reached a final agreement and that money has exchanged so that the government can finalize and approve the Costa Rica real estate transaction.

You will also want to make sure you walk out of closing with three more important documents, all of which will can delay or prevent the final transfer of your Costa Rica real estate. Many times, a crooked seller will try to walk away after giving you forged or incorrect paperwork so the transfer of the Costa Rica does not go through and you lose your 60% deposit when they disappear.

Therefore, you are going to have a lawyer who makes sure along with you that you have documents proving the Costa Rica real estate is tax lien free, documents showing the actual and correct boundary lines of the property, and the proper deed. If you have all of these documents and the pre-sale contract, you can submit the transfer of Costa Rica real estate to the government and within 3 months officially own the property.