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I have a question for anyone who has purchased real estate in Costa Rica. When I look at properties for sale from realtors or on websites like craigslist.com I always wonder if the listed price is actually what the property will sell for. I also wonder if there are two prices…the american price and the local costa rican price. Here is a link to an example of a property for sale on craigslist. THIS IS NOT AN AD. I have no idea who this is I am just using it as an example. http://costarica.en.craigslist.org/reb/953759391.html
the property is listed at 795,000 and I am curious if that is actually what the person is expecting to get or will this property end up selling for like 500,000.
What has your guys experience been with this?
With no REAL rules on real estate sales here in CR you’ll see a lot of this! Continue to do your homework, check every source, talk to people, and stay removed from your purchases! I’ve looked at dozens of properties. The more “interested” you are… the higher the price will go! Having a local connection that can check on a property for you and TRY to nail down a price is a good idea! Never look like the rich gringo looking to make a deal…. BIG mistake!
I’ve had properties “appreciate” while I was walking them… funny how that happens! You’ll also find “net” listings… folks fronting property that have “added” their take on the deal to the purchase price becoming the middle man in the deal. A owner/seller asking “X”… and the “broker” fronting the property at an asking price of “X” plus $25,000!
Some properties are just plain WAY OVERPRICED! Tico sellers just hoping that a gringo with a bag of cash (from the money tree you have in your yard back home in the states as many Tico’s believe) will come by with stars in their eyes and fall in love. Although I think there is a bit of wiggle room on price now as compared to a year ago…. you’ll find that many sellers (Tico’s) have a price burned in their mind and will wait you out. Many figure if you show interest at $$$$ there must be someone out there that will pay $$$$$$$$$. Not having to sell the property “now” gives them the advantage… they can sit on their nestegg and wait… some are downright crazy… but it’s their property and thay have the right to ask what they want!
I think many of the bargains out there right now are to be had from non-Tico sellers (gringos) that are in a tough spot here or back home. You might have much better luck finding a deal and the ability to wiggle a better price in that market.
Good luck and Happy Hunting… this site is a great source of diverse honest opinions as you’ve seen… so keep up the research!
Edited on Dec 16, 2008 13:42
My father used to tell me: “If you don’t ask, you don’t get …” So AFTER you’ve checked out a property you can always offer a much lower price and see what happens…
At $2,409M2 this is NOT a low priced property and prices in the Manuel Antonio area can be much higher.
Having said that, it would appear that this property does NOT have an ocean view and I’m not too impressed by those photographs are you?
I would have hoped a Realtor selling a $750,000 home could get some better photographs done…
Scott Oliver – Founder
WeLoveCostaRica.com
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