One of the key things you will have to understand before purchasing real estate in Costa Rica are the property laws and tax laws of the country. Although the government and lifestyle is very similar to the American and European countries, as a foreign investor there are a few laws regarding real estate in Costa Rica that may be difference that are a huge factor in the way you conduct business.
First off, you need to be aware that although the people and culture in Costa Rica is enjoyable and friendly, there are people who will attempt to scam you so make sure you have a lawyer and trustworthy agent at all times. These people will help you close your real estate in Costa Rica deal because unlike the tradition of sales deposits, you will actually need a notarized pre-sale contract between you and the seller to obtain the final rights to the property.
Along with this, you want to make sure you have valid documents that show there are no tax liens on the real estate in Costa Rica you have just purchased, you have paperwork documenting the boundary lines for your new real estate in Costa Rica, and the proper deed. Even though it is not likely, there are people who will try and attempt to sell you a fact deed to real estate in Costa Rica thus voiding your sale and causing you to lose your entire deposit.
Property taxes on real estate in Costa Rica is something else you will want to factor into your decisions as an investor, so you need to be aware of the rates. On average, these will accumulate to be about 5% of the selling price; you will split this cost with the seller at the end of the deal for your real estate in Costa Rica.
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