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. Read up on our top home buying tips to avoid common pitfalls and ensure that your home search and purchase go smoothly. There’s a reason pools have shallow ends. Your email address will not be published. Though Costa Rica is a relatively small country, it has over 1,200 kilometers of pristine coast line. If you find a seemingly perfect property online but cannot visit immediately, it may be tempting to put down a deposit to hold the property. Here is our shortlist of five pitfalls to avoid when shopping for a luxury vacation home in Costa Rica, don’t forget to read our freshly updated and comprehensive Guide to Buying a Property in Costa Rica: Of course, an agent solves most of these. For sure Costa Rica has plenty of deep ends to explore, but you like to take your time, move wisely. It is quite normal that we encounter a would-be buyer who is not ready to buy a house yet. Closing fees can be expensive, but, in Costa Rica, the buyer pays half and the seller pays the other half. It can be just as safe buying a property in Spain as it can in your home country providing that you use an independent lawyer to help you through the process (not one provided by the builder or property agent). There’s a smart way, and there is a not-so-smart way to approach luxury investment in the world of Costa Rica real estate. Your perfect Costa Rica real estate investment likely has a pool. Rightmove.co.uk lists the very latest property in Costa Rica. By understanding the steps in the process and pitfalls to avoid, a buyer can confidently invest in and enjoy their property for years to come. Have your own real estate attorney draft the purchase offer contract (POC) to ensure all your commitments are well defined and your risks minimized. Find your future dream home on the beach or an ocean view property in Costa Rica on the only legitimate MLS in the country. We hope it’s fun, no matter what. A company whose shares are less than 50% held by foreigners can be granted a concession. Avoid these common home-buying mistakes when purchasing real estate in Costa Rica. Private persons can acquire property in the Restricted Zone by applying to the Municipality, but in the Restricted Zone, leases cannot be granted to foreigners with less than 5 years of residency in Costa Rica. Can foreigners buy property in Costa Rica? Buying a home can be a complicated process, especially in a foreign country. There are a few options for financing a home in Costa Rica. You don't want to purchase the largest, the most expensive, or the least protected home on the block. Many of our foreign clients share similar concerns when we first discuss their investment plans in Costa Rica. Take your time. Property in Costa Rica. So how can I buy in Costa Rica, if I don’t have all the cash you ask? In fact, the risks associated may actually be greater than you had imagined. Visit the Country. If you are looking for a reliable and honest Costa Rica real estate agent to list and sell your property in the area, please contact us and we can refer a trusted agent to you. The purchase process may seem straightforward, but there are potential pitfalls, especially if you’re buying a previously owned property. All Rights Reserved. This will give you time to adjust to local life, experience a full rainy and dry season, and determine whether you'd like to make the long-term commitment of purchasing a home. = Speak with your real estate agent about recent sales, the home's time on the market, the seller's motivation, and other relevant factors. Costa Rican real estate differs from that in your home country, so it is very important to visit a property and inspect it thoroughly before making a commitment. We are pleased to offer a range of property in Costa Rica. Prudent – contingencies include making your offer subject to mortgage financing, a home,... 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