have a feeling we're not in Kansas anymore"....
need to be very clear.. you are not buying property in the USA. Real
estate in Costa Rica is totally unregulated. Nothing works like it may where you're from. There is no TRUE escrow and no disclosure laws.
Even if you have worked in real estate for years back home, nothing
can prepare you for the lack of regulation and scruples of some people
who would try to sell you property here in Costa Rica! In a country where taxi drivers and restaurant waiters can sell you real estate, where any foreigners can (and do!) step off the plane and call themselves "Realtors", you need professionals with many years of actual real estate experience in Costa Rica working for you!
Costa Rica Land & Property is a commission
based real estate company, and primarily works for YOU, the buyer, although our services reach far beyond
selling real estate into complete country-to-country transitional/relocation
services. As you can understand, due to the high demand on
our time and the cost of fuel we cannot afford to taxi every curious
tourist around for free.
DO NOT CHARGE to view a specific property or two which we already have listed in our home base
area of Atenas.
However, due to the rising price of fuel (currently between $5 and $6 a gallon) Costa Rica Land & Property is now offering a more complete set of relocation services for a non-refundable service security deposit of $500, for rentals and $1,000 for clients looking for a property to buy, which, at the time of signing a lease contract, will be applied towards the lease security deposit or towards the purchase of a home. This fee covers a range of services, not just veiwing properties, see what is included below.
Should you decide not to rent or buy any of the options presented within the first 6 months, Costa Rica Land & Property will retain the service security deposit as a compensation for work, resources and time spent with you.
Remember, there is no true MLS or organized listing
service here which include all agents/properties, so tracking down sellers to line up a full day of desirable
properties requires much time and effort.
Other “agents” may offer to drive you
around for "free", but you will see the difference with our VIP Service!
WE SERVE YOU! With well over 50 years of combined local
knowledge and expertise allowing our team to help YOU find the good deals in Costa Rica. If you are serious about searching
for the right property our fees are minimal in comparison to the
time and monies lost by working with the wrong company, or making the wrong purchase.
Here is the list of services we provide, some are included in our normal routine of helping you find the perfect property, some are extra or special services that compliment our normal services but are out of the spectrum of services we can provide without an extra charge.
- Arrange rental car
- Recommend Hotel or B&B
- Recommend Movers
- Loan information
- Local Atenas area information
- General information on Costa Rica
- Information on the buying process in Costa Rica
- Information on living in Costa Rica
- Extensive property search including collaboration with other agents, companies and other areas (leave the coordinating and scheduling hassles to us)
- Area information and finding the right area for your needs
- Recommend Attorneys
- Residency information & Recommend Professionals
- Recommend Contractor
- Investment information
- Help with property inspections
- Help with opening bank account, (related to property purchase)
- Introductions around town
- Help with translating documents and conversations (just call one of our bi-lingual agents!)
- Help with where to shop
- Recommend Doctors and other professionals
- Help with opening a PO Box
- Help with setting up Internet connection
B&B/Hotel Reservations: Costa Rica Land & Property will help find a hotel or B&B in the area you desire, negotiate the rate and coordinate all the necessary paperwork required to complete the hotel reservation.
Pre-Selection of Properties: Costa Rica Land & Property provides a comprehensive questionnaire which will help our team understand your needs, preferences, budget requirements etc. Once you fill out and submit this form, Costa Rica Land & Property begins the property search then sends descriptions and photos of available properties right to your email. You can then proceed to pre-select properties you wish to see once you arrive here in Costa Rica. You are also welcome to continue to research properties online and submit links to properties you find elsewhere (even on other websites and from other agencies). Costa Rica Land & Property then contacts those other agents and coordinates the appointments and viewings. For our V.I.P. questionnaire click here
Airport Pick-Up: Costa Rica Land & Property will meet you at the airport and drive you to your hotel. (extra charges may apply outside the central valley area) The service security deposit fee is paid to Costa Rica Land & Property upon airport pick-up.
Rental Property Showings: Costa Rica Land & Property reserves a minimum of one full day exclusively for you. Normally, about 8 properties can be shown in one day, depending on area. At the end of the day, we will discuss the options viewed with a Costa Rica Land & Property representative. Based on your feedback, Costa Rica Land & Property can identify more properties to be viewed the following day.
Rental Properties & Lease/Rental Contract: Usually, by the end of the second day, you will have selected a property you wish to rent. Costa Rica Land & Property will then complete the negotiation with the property owner and formalizes the rental contract. At this moment, the client is expected to pay the first month's rent plus the security deposit (minus the service security deposit fee already paid up front).
Buying Properties : Your search for a perfect home to buy is obviously a lot more complicated process, and for that reason, we prefer to leave the showings, research etc. open, subject to prior conversations and agreements with you.
Moving: Our recommended movers specialize in "door to door" international moving. Don't be fooled by the "cheaper guys". Make sure your bid includes packing, unpacking, shipping, insurance, customs and taxes in the destination country, as well as any storage fees for delays in customs etc.
Getting Connected : After the contract has been signed and deposit paid, Costa Rica Land & Property will assist you with installation of cable TV, internet and a phone line at the leased or purchased premises. We can also assist you with obtaining cellular phone service.
Corporations, Banking & Accounting: Costa Rica Land & Property will also assist you in the process of setting up your own company in Costa Rica (usually a requirement for bank accounts), registering it with the local authorities, opening bank accounts and even put you in touch with reliable accountants. (attorney and registration fees extra)
These are services our company provides or can provide through trusted professionals who work with our team on a regular basis. Services are charged on an hourly or daily rate, please ask provider for rates.
Help with purchasing a vehicle (includes recommending and introduction to mechanic)
Help obtaining a Costa Rican drivers license
Help setting up a Costa Rican bank account
Interior Design Services
Trips to Tourist Attractions
Maid or Gardener / Landscaping
Property Management Services Pool / Caretaker
Overseer for construction projects
Help with pets
Tourism: Costa Rica Land & Property is comprised of native Costa Ricans and Ex-pats. We have all lived here many years and can assist you with the scheduling of highly personalized tourist packages, or take you on a personalized tour ourselves. See the Costa Rica we have come to love, no need to go along with a group who may not share YOUR interests. No need to follow someone else's pre-determined agenda or tour schedule. We will prepare one for you that meets your actual interests and preferences. and tailor it to your budget! Motorcycle Tours: Paul Furlong, a member of our team, and a dedicated life long motorcyclist, invites you on a journey into the land of Mañana.... Please contact us for further information.
Costa Rica Land and Property, serving all your Costa Rica Real Estate needs.
"Pura Vida" with Integrity
is a list of fees and other costs
of purchasing and owning real estate
in Costa Rica.
To BUY or SELL:
A.) LAWYER'S FEES: The following
information was obtained from an article written by Roger A. Petersen.
For all acts and contracts that are authorized
to be performed by a Costa Rican Notary Public the fee schedule is based
upon the actual value of the transaction involved according to the following minimum schedule. (This schedule would be the
one that applies to real estate closing transactions)
First 10 million Colones = 2%
Over 10 million Colones and up to 15 Million Colones = 1.5%
Over 15 million Colones and up to 30 million Colones = 1.25%
Over 30 million Colones = 1%
The law also states that for acts or contracts that are complex
in nature, there may be a 50% surcharge from the above.
Furthermore, the sliding Notary Fee schedule is set as the minimum which may be charged. The Notary may charge more than the fee schedule so long as the client agrees. According to Article
1 of the law it is mandatory that they abide by the minimum schedule that
is established in the Executive Decree.
( Roger A. Petersen is an Attorney at Law, member of both the Costa Rican
Bar and the Florida Bar. Mr. Petersen is a partner with Alliance Law Group
in San Jose, Costa Rica.)Other fees include the following:B.) STAMPS: approximately
C.) TRANSFER TAXES: 1.5 %
The amount of the preceding items
is paid according to the declared value of the sale which is declared
in the "escritura" (Title) of the property, which is registered
in the National Registry or before the municipality (which ever of the
two is more)D.) REALTOR'S COMMISSIONS:
The Association of Costa
Rican Real Estate Brokers prohibits the practice
known as "price padding" or "net pricing" among
it's members. (They are the official governing board of
realtors but only a very small percentage of realtors actually belong)
This is the common practice of adding an amount to the seller's asking
price (normally at least 15% and sometimes 100% or even more!) and pocketing
the difference. (This is usually ON TOP of the commission they charge
the seller or in some cases the buyer) and it is perfectly legal to do so!
Good news for our clients:
We do NOT practice "price padding" our commission is 5% almost always paid by the seller. More information on Closing Costs:
By custom, in an all cash transaction, buyer and seller split the closing costs, but the split
may be adjusted up or down to fit the occasion and the needs of the parties
involved. When a mortgage is involved the buyer is usually expected to pay the costs of closing and always expected to pay the cost of registering the mortgage. (see below)
Construction of the mortgage: approximately 50% of the cost of transfer (over the value of the mortgage)
Cancellation of the mortgage: Approximately
50% of the cost of the construction of the mortgage. These processes are
not recorded with the "transfer taxes" of 1.5%; because what
is indicated in regard to the percentage of the cost, with respect to
the sale of properties, refers only to the amounts in "a" and
"b" above. RENT AND PURCHASE OPTIONS:
These are "private contracts" that are not required
to be signed in front of a public notary. Some people ask (in our opinion,
all should) that they be done with a notary
so that the exact date may be inscribed and/or the signatures authenticated.
In either case, the contract is equally valid with only the signatures
of both parties since the contract is considered law between the two parties.
The difference that could exist is if the document
must be used in court since the notary has "public faith". If
the contract was made privately - without the services of a notary- and
one of the parties denies that his own signature is authentic, it must
be examined by a handwriting expert recognized by the Supreme Court.
"REAL PROPERTY TAX LAW"
"LEY DEL IMPUESTO A LOS BIENES INMUEBLES"
Taxes for real property are recorded in an amount
of 2,500 colones per million. It is the obligation of the property owner
to declare the value of his property to the corresponding municipality
at least every 5 years.
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