What you Should know About Real Estate Purchase Laws In Costa Rica

Looking for real estate in Costa Rica can be a task, especially if you don’t know much about the country. To prevent you from getting duped, it’s a good idea to get education on the real estate purchase laws in Costa Rica.

First, you must find real estate in Costa Rica that you wish to purchase. Then, check around for a licensed realtor to help you choose a property that will suit you. The downside of having a realtor is that some of them are not licensed. The double whammy is that in Costa Rica, they are not required to have a license, nor are they required to have training.

You will have to search around for a licensed realtor. When you get one and you feel comfortable with them, you can start the process of finding real estate in Costa Rica that you would like to purchase.

Another thing you must do is to hire an attorney. They will have to represent you in regard to the legal matters and any paperwork that is involved in the sale of the real estate property. They need to check and make sure that all of the pertinent paperwork is in order and that it is filed correctly.

It’s perfectly fine for buyers from foreign countries to purchase real estate in Costa Rica. The only thing is that since they are from a foreign country, that they are restricted for purchasing some real estate in Costa Rica. This is because the property has already been given or leased out to private residents of Costa Rica.

Foreigners that come to Costa Rica to purchase real estate usually want property in the oceanfront area. They can purchase it, but there is a restriction. Starting at the tide line going to the shore, the initial 50 meters is for the general public. This means that only the general public is allowed to own that land.

With the next 150 yards after that, a foreigner can get the land only through lease options. They can only have 49% of it. When they have lived in Costa Rica for over five years, then they can seek out other alternatives.

Whatever you decide to do, make sure that you know what the purchase laws are for getting real estate in Costa Rica. This is another reason why it is imperative that you must have an attorney so that they sort out all of the legal jargon for you and you won’t be confused when everything is said and done.