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Costa Rica Real Estate

Costa Rica real estate is a great investment. Additionally, since real estate in Costa Rica is currently undervalued in the market, that means you can buy it for a relatively cheap closing price.

Buying Real Estate in Costa Rica

If you decide to buy real estate in Costa Rica, the first step is to locate an attorney. If you live in Costa Rica, you can ask for suggestions from trusted friends or coworkers. If you currently live outside of Costa Rica, one of your consulates or your country's embassy might have some recommendations to make. You can also call the Costa Rican-American Chamber of Commerce. Try to find an attorney who specializes in real estate to help you with your purchase of real estate in Costa Rica.

Next, you want to research the property information of the real estate you wish to purchase. Ask your attorney to perform a title search at the Public Registry (Registro Publico) about the property.

The next step in buying real estate in Costa Rica is writing a transfer deed (escritura), which is the document that transfers ownership of the property. After both the buyer and seller sign the deed, the attorney then drafts it and registers the sale with the Public Registry.

Finally, you'll have to buy your half of the closing costs, which include taxes, notary fees, and mortgage registration fees.

Costa Rica Real Estate Prices

Like real estate prices everywhere, Costa Rica real estate prices vary greatly depending mainly on the location and amenities of the property. Real Estate in the beaches is the most expensive.

Costa Rica Real Estate Squatters

Squatters are a major problem in Costa Rica. Unfortunately, Costa Rican law says that a squatter gains rights to a property if the owner allows the squatter to keep possession of the property for more than a year. If a property owner does not do something to stop squatters within a year of their invasion, the squatters have a right to compensation for any improvements the squatter may have made to the land. You need to act rapidly with squatter problems, before three months. You must begin a civil procedure (a Interdicto) or press criminal charges (Usurpacion). If you delay, you will may pay greatly in legal procedures and red tape.

Get Some Costa Rica Real Estate!

As long as you take care to get everything done right legally, and take care of the property, investing in Costa Rica real estate whether to live or make money is a great opportunity. Good luck!

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