Reprinted from Explore Costa Rica.com
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Costa Rica Real Estate
By Explore Costa Rica.com staff
Apr 30, 2010, 07:03
Costa Rica Real Estate -
Most visitors to Costa Rica fall in love with this beautiful country and its friendly people. Costa Rica offers tropical beaches, lush mountains, moderate climate, national parks with rain forests swarming with abundant flora and fauna. Nature lovers are drawn to its beauty and abundant wildlife. Enjoy walking throughout the many national parks, bird watching amongst Costa Rica wildlife or engaging in all the abundant outdoor activities. Costa Rica invites foreigners to its peaceful and the slower pace.
|Costa Rica Real Estate|
Whatever draws you to Costa Rica, more are investing in Costa Rica Real Estate and Vacation Rental Properties. Many choose to re-locate or retire to Costa Rica while others want an investments property that allows then to vacation at their leisure while making income. If you are seeking to purchase real estate in Costa Rica, this information will be helpful. By following proper procedures, using an honest and reliable lawyer, you will have no difficulty in attaining your dream home.
Foreigners have the same right to own real property in Costa Rica, as do its citizens. Many countries have restrictions on foreign ownership of real estate but that's not the case in Costa Rica. You simply need to be aware of a few facts and take a few precautions to ensure you’re dealing with legitimate parties.
Costa Rican real estate is an unregulated market where anyone can claim to be a 'Realtor,' and there is no education or licensing requirement. The Costa Rican legal system is based on Napoleonic Laws and not Common Law as they are in the USA, UK and most of Canada. Additionally, legal contracts are in Spanish, which means you need to be sure that your first step involves securing the help of a qualified bilingual professional.
Good & honest legal advice is a must. The best way is to work through an exclusive buyer’s agent, who will monitor the Real Estate transaction and has access to competent and reliable lawyers, surveyors, engineers, etc. Until recently, buyers had to rely strictly on their attorney do the title search.
As is the United States, the buyer can only be assured of a good title after the property has been traced to the actual seller and is shown to be free of any liens or encumbrances. For years, foreigners investing in Costa Rica property had to take a much larger risk. Thanks to the development of a new market, title insurance has become available. Rates for title insurance are 1-1 1/2% of purchase price, which is comparable to rates in the United States.
Purchasing Costa Rica Real Estate is a major financial transaction. Spending a few extra dollars can eliminate any risk. Before you secure the services of an attorney, you'll want to be sure they come highly recommended by someone who has actually have a great experience with their services.
Following these simple steps – securing title insurance and the help of a personally recommended attorney – will provide you with the peace of mind you deserve as you look to move into your Costa Rica dream home and living in one of the most beautiful places on earth.
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