Buying a home in Costa Rica – The decision to purchase real estate in a foreign country can at first be a daunting proposition. However, it is possible to safely buy property in Costa Rica with the assistance of a reputable realtor and attorney. Your realtor should be able to help you to locate property suitable to your needs, educate you as to property values and investment opportunities in your chosen area, and assist you with negotiating a fair price. It is important to choose an experienced attorney with a solid reputation who can handle the financial aspects of the transaction and ensure that your property has legal title and is purchased free of any liens or encumbrances.
BUYING PROPERTY IN COSTA RICA
Real estate transactions are among the most important and valuable events in our lives or business. The process of buying a home or entering into a real estate investment should and can be fun and exciting, and bring us financial rewards and pleasant experiences for years to come. However, buying property in Costa Rica requires placing large portions of assets at stake and assuming substantial personal and financial commitments. Therefore, it is important to proceed with caution and care. Especially when buying property in a foreign culture with a system, language and values we don’t fully understand. It can be a frustrating experience and may seem at first fraught with risk.
It is not necessary to be a resident to own and invest in property in Costa Rica. The laws and constitution of Costa Rica, with the exception of property located in the Maritime Zone, affords foreign investors the same rights as nationals in the ownership of property; as long as the proper procedures are followed. The following is designed to provide information to potential investors of all types of real property in Costa Rica about the buying process and what you should know prior to investing.