Buying a Property 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 other considerations in your chosen area, and assist you with negotiating a fair price. You should also use an attorney (Certified Public Notary) with a good reputation who can handle the financial aspects of the transaction and ensure that you will have legal title to your property.

Title Insurance is available in Costa Rica through well-known international companies such as Stewart Title and Fidelity Life, Chicago Title and Land America

Ownership: It is possible to purchase real estate through direct transfer where one or more individuals acquire property in their personal name.  Purchasing properties through a new or existing corporation is also very common in Costa Rica.  The process of setting up a corporation is not complicated or expensive, but requires the expertise of your attorney to follow the legal protocols involved.

The Public Registry of Properties: All property in Costa Rica should be registered in the Public Registry of Properties, whether the property is fee simple or concession. By means of the Public Registry of Properties your attorney will be able to confirm that the seller possesses ownership of the property, and to discern if there are any restrictions on the property before the deal goes through. Avoiding the purchase of unregistered property is strongly recommended.

Folio Real Numbers and Cadastrals: Each property registered in the Public Registry of Properties has a Folio Real number, which is the unique number assigned to each property to identify it.  The number is comprised of three parts, the first number indicates the province, the second group of six numbers is the number of the property itself, and the last group indicates how many owners the property has.  All properties must have this number in order for clear title to be obtained. Each registered property also has a survey plan, or Cadastral.  In order to transfer, mortgage, or acquire a property, the survey plan must be recorded at the Public Registry of Properties.

Property taxes in Costa Rica are very low, only ¼ of 1% of the registered property value.  Certain standard closing costs are required in Costa Rica to transfer the title of a property from the seller to the buyer, and this is always paid by the buyer.  Closing Costs include: (1) Real Estate Transfer Tax, which is 1.5% of the registered value of the property on the deed; (2) Documentary Stamps, which total approximately 1.25% of the registered value; (3) The Notary Fee, which is 1.5% of the first million colones and 1.25 % on the balance of the property sales price.  This means on the purchase of a $100,000 property, closing costs would be approximately $4,250, and property taxes $250 per year or lower.

Financing: If you need to borrow funds, it is generally far simpler and interest rates are usually lower in your home country. However, if your credit rating is impeccable, financing in Costa Rica may be available.  Some banks, such as the Bank of Nova Scotia, offer financing to foreigners. Usually the bank will finance somewhere between 40 and 50% of the purchase. Certain projects and/or private owners may also offer some kind of financing arrangement.

If you have any questions please don’t hesitate to contact me

Information taken from sources believed reliable but not guaranteed

Source:  Kiss, Bow or Shake Hands 2nd edition – Terri Morrison & Wayne A. Conaway

Information taken from sources believed reliable but not guaranteed

The kitchen features hardwood & glass cabinets granite counters, stainless steel appliances (fridge, stove & dishwasher), other appliances included are a stacked washer and dryer.

Each bedroom has its own ensuite bath.  Master bedroom has its own private balcony.  Covered parking. Central Air. Views to the mountains, ocean and valley.

Swimming pool in complex. Elevator. Wheelchair Access.  Cable and High speed internet available.

This unit is being sold fully furnished and is ready for you to move in!

There  are only 12 units in this secure community.  Close to all the amenities you could need and it is located only 20 minutes from the Liberia International Airport.

Condo fee is US $250.

Pets under 20lbs permitted

Great owner financing is available on this property.  US$ 90,000 down, 6% interest for 10 years and no pre-payment penalty after the 3rd year.

All information taken from sources believed reliable however buyer to verify all information for themselves

This beautiful home has now been reduced to US $1,895,000.Features of this home include a Master Suite, Junior Suite, 2 additional bedrooms each with a private bathroom and ocean view balcony and a separate 1 bedroom lock out apartment, total of 6 full baths, 2 1/2 baths

Features throughout the home include:

• Solid laurel wood baseboards
• Custom Built Europerfiles PVC Window system with wooden finishing
• Back-up electrical system
• Crown moulding
• Recessed lighting system
• Home is wired for sound throughout – inside and out
• Wired for a security system
• Wired for Internet & Cable
• 6 Carrier Zoned AC systems
• Glazed brick inlay tray ceilings in every room except kitchen and bedrooms
• Travertine tile throughout the home
• Glass & stee balcony railings for upstairs bedrooms balconies
• Built in office space upstairs in hallway offering Mountain and Volcano views
• 500 gallon back up water system
• Bamboo inlaid ceilings for all exterior overhangs
• Wrought iron chandelier over circular staircase
• Wrought iron chandeliers from brick inlay tray ceilings

This home offers quality finishings throughout, G.E. & Frigidaire appliances in the kitchen & laundry.  Absolutely stunning home.  Please contact Sue for more details

As this is a penthouse unit it also features its own private roof top deck which is the perfect setting for a BBQ and party area.

Fully furnished and ready to go.

Only 12 units in this small condominium development.  Also features covered parking,  24/7 security, spacious common area and in ground pool.

This unit has been priced below the current market value and the seller will consider all reasonable offers.

Information taken from sources believed reliable however buyers should verify information for themselves

The upper level of the home features vaulted ceilings of ‘retired’ almond hardwood.  The cabinetry and doors are of teak and almond wood.    On the upper level you will find 2 bedrooms and 2 full baths, a large living area and a spacious eat-in kitchen with plenty of granite counter space and breakfast bar.  From the kitchen you can walk out to a lovely wrap-around porch with ocean views.

The master bathroom has a large jacuzzi tub.

On the lower level you will find a large games room and office with another full bathroom and closet.  This area could be converted to a full lock out apartment – an ideal income opportunity or used as a third bedroom with ensuite bathroom to compliment the upper level.

Located within a gated community featuring a large swimming pool with dual slides, swim up bar and Jacuzzi.  BBQ area, lush landscaping and a man-made stream.

This residential development also features a Sports Bar, Tex-Mex restaurant, Spa, Mini-golf, open air theatre, mini mart and a souvenir shop making it a wonderfully convenient neighbourhood!

Information from sources believed reliable however buyers should verify all information for themselves

One of only 7 homes in this gated community this lovely single storey home is approx. 2,340 sq.ft and set on the largest lot in the community.  Vaulted ceilings and wide hallways.  This gated community is enjoyed by year round residents and is set in a lush treed setting that is a favourite monkey route and a natural bird sanctuary is close by.

The Great room features a stunning 2 storey teak wood ceiling,

Large well appointed Gourmet kitchen features GE appliances, gas oven & stove top, granite counters and separate wet bar.

Master bedroom suite features an ensuite bathroom with Jacuzzi tub and separate shower with floor to ceiling tiles, walk-in dressing room finished with hard wood and marble.

The home features an additional 2 bedrooms both with ample closet space (either built in or walk-in) and ensuite bathrooms with full showers, marble counters and separate powder room.

The completely walled and terraced backyard is perfect for private parties around the large pool with a lighted waterfall and slide.

Oversized 2 car garage offers additional storage in the upper area as well as a workshop.

Pets permitted.

Information taken from sources believed reliable however buyers to verify all information for themselves

Stunning home with superior attention to detail.  3 bedroom, 3.5 bathrooms.  Ingenious & creative floor plan provides for comfortable living.

Enter the home through a beautiful foyer featuring 20′ ceilings and an unmatched view of the Bay of Hermosa and the ocean.

Indigenous Guanacaste hardwood cupola, oversized hand painted columns, cathedral ceilings are some of the stunning features of the enormous great room.

Marble inlaid floors throughout the home and out onto the large balconies.

Enjoy the magnificent views from just about every window of the home whether it is the ocean, volcanoes, mountains or valleys every view is framed by a large window.

Spacious Master suite is located on the main level.  Well equipped gourmet kitchen includes high-end appliances, granite counter tops, carved hardwood cabinets.

Great home to entertain guests on the lovely veranda or enjoying a refreshing dip in your custom designed 46′ x 16′ infinity edged pool as you enjoy the view of the bay the valley.

Information taken from sources believed reliable – buyers to verify all information for themselves

This beautiful, 4,840 sq.ft (approx), home was completed approximately 6 months ago and is set on a spacious 1116 sq.m lot; it is very elegantly appointed with stunning circular staircase, ornate iron work and magnificent custom hardwood throughout the home.

The home features 3 bedrooms each with an ensuite bathroom & a separate studio apartment with private entry, full kitchen & bathroom.

Some of the special features of this home include:

• Specially tinted ‘Euro’ windows throughout the home,
• stunning imported Santec crystal faucets and
• 6 magnificent custom made chandeliers.
• Double door entry to the master suite with a private lounging area, Wall to wall built in headboard, closets and cabinets and unique circular bathroom
• Great room with two storey vaulted ceiling,
• Trey ceiling with up-lighting throughout.
• Special designer lighting in the living room.
• Central Air
• Includes Fridge, Oven range, Microwave, Dishwasher, Washer & Dryer
• Double garage
• Furnished!

Information taken from sources believed reliable however, buyers should verify all information for themselves

The unit is being sold fully furnished (with the exception of a few personal items).

Third bedroom boasts a ‘lock-out’ feature making it an ideal rental unit – separate entrance, equipped kitchenette and separate bathroom.

The beach at Playa Hermosa is quiet & safe, family oriented – across the bay you can see the Four Seasons Resort.

Information  from sources believed reliable however buyers should verify all information for themselves.