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Costa Rica is a rugged, rainforested Central American country with coastlines on the Caribbean and Pacific. Though its capital, San Jose, is home to cultural institutions like the Pre-Columbian Gold Museum, Costa Rica is known for its beaches, volcanoes and immense biodiversity. Roughly a quarter of its area is made up of protected jungle, rich with wildlife including spider monkeys and quetzal birds.

4.9 million 

Low Season (Aug–Oct)

Rainfall is highest, but storms bring swells to the Pacific, and the best surfing conditions. Rural roads can be impassable due to river crossings. Accommodations prices lower significantly.

(May–Jul, Nov)

Rain picks up and the stream of tourists starts to taper off. Roads are muddy, making off-the-beaten-track travel more challenging.

High Season (Dec–Apr)

'Dry' season still sees some rain, but beach towns fill with domestic tourists. Accommodation should be booked well in advance; some places enforce two- or three-day minimum stays.

 

Costa Rican colon

Spanish

Yes, foreigners are permitted to own property outright in Costa Rica.

Foreigners have the same property rights as Costa Ricans. Private property is protected by the Constitution of Costa Rica.

 As a general rule, don’t delay in making an offer once you find the property you want to buy. The market in Costa Rica is simply too strong to wait. On the other hand, don’t buy property you haven’t actually visited. No matter how much research you do—talking with knowledgeable friends, looking at pictures, or getting information from the Internet—never buy from a developer or individual unless you’ve actually visited the condo, house, or land.

Similarly, buy only what you see—not what a developer or real estate agent may promise. Many developers, for example, talk about plans for new roads, clubhouses, golf courses, or marinas. But a lot can go wrong, even with the best developments. To protect yourself, don’t figure tomorrow’s features into the price you offer today.

As you would do when buying property elsewhere, don’t hesitate to ask for a reduction in price if parts of the house are in disrepair or look as though they may need repairs in the near future. In Costa Rica, ask for a discount—perhaps as much as $2,000—if the residence lacks a telephone. New phones are difficult to get.

  • Step 1: Sign an Option to Purchase/Sale with seller.
  • Step 2: Deposit funds into escrow (if available).
  • Step 3: Title research performed by the Notary Public / Lawyer (review if property is free and clear of defects)
  • Step 4: Closing – Execution of Transfer Deed, Endorsement of Shares and/or Mortgage Deed and disburse funds
  • Step 5: Register new owner with Public Registry

information from internationalliving.com

1. Transfer taxes, stamps and other charges: In order to record the transfer of the property, the government charges 1.5% of the purchase price.  An additional 1% is charged for other stamps at the Public Registry.

2. Notary Fees: Notaries are required by law to charge 1.25% as their legal fees.

3. Survey fees: If you require or demand a new survey for your property, there are qualified surveyors available to perform this function. Pricing depends on the location and size of the property.

 

infomation from www.propertiesincostarica.com

4. Mortgage registration fees: The government charges 0.6% of the mortgage value to register the mortgage deed on the property.

5. Escrow Fees: Fees are dependent on the escrow provider.

6. Incorporation: Fees for purchasing a corporation typically run between $500-$1000 or more.

Rental contracts in Costa Rica are generally for the duration of three years. During this period the landlord is not allowed to raise the rent if charged in US Dollars. If the rent is charged in Colones a 15% increase in rent is possible.

In practice, 6 month rentals are offered as well. Tenants are supposed to give three months notice to terminate the rental and leave the property in the same state it was when the lease started. If you decide to leave before the rental period is over you will lose your security deposit.

A landlord can ask any amount of security deposit he/she thinks is necessary. Make sure you agree clearly on what security deposit will be made.

If the landlord wants to terminate the lease, notice must be given at least 3 months prior to the end of the contract. If the landlord lives in the same building a 30 day notice is sufficient. If notice is not given according to the minimum time required, the lease is automatically renewed.

If the tenant is seven days late with payment of the rent, the landlord is allowed to go to court and ask for an eviction. If the tenant does not pay bills that he/she has agreed upon to pay, the landlord can evict the tenant and deduct the costs from the security deposit.

The landlord can also evict tenants if they are involved in illegal activities. The landlord has the right to inspect the premises once a month. Sub-renting/leasing is prohibited.

 

info from justlanded.com

Agents fees usually equal to one months rent and is payable by the Tenant