Cultural Differences When Buying Costa Real Estate From A Tico

It is important to remember when living in Costa Rica or buying and selling real estate that there are cultural differences, it’s not just the local Ticos speak a different language to most of us, in many situations they also think differently.

Our Gringo way of thinking and our typical negotiation strategy mindset may work well if you’re dealing with a Gringo seller but since there a quite a few Ticos left that still own real estate here 🙂 and only a tiny fraction of them are in a highly leveraged/mortgaged situation in comparison with ‘back home’ so we have to accept that and we must live with this those little differences.

In looking for 5,000 – 10,000M2 lots to build a home I have tried to negotiate with sellers of land who told me that yes! They would be willing to negotiate and be a little flexible on price, that they would have to talk to their partners and get back to me…

They did talk to their partners, they did get back to me after raising the price by 25%.

This has happened to me on at least a dozen occasions and it’s not that I’m British, because with some sellers I had them deal with my girlfriend or my attorney, both of whom speak fluent Tico Spanish.

Ticos do not always think the way you and I do, and on many occasions, if their property is not selling for the price they want (and they don’t care if it’s genuinely worth the price they are asking or not, or whether a comparable property just sold nearby for 50% less than what they are asking) – it’s been my experience that they will not sell.

And, if it still does not sell for the price they want, they are more likely to increase the price than lower it. That’s right!

Call it “flawed logic” if you wish – that’s just the way it is. It does happen but in our experience it has been only on rare occasions when we have seen Ticos lower the asking price for the real estate they wish to sell and most of them they can be very, very patient – far more patient than you and I.

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Written by Scott Oliver, author of How To Buy Costa Rica Real Estate Without Losing Your Camisa and Costa Rica’s Guide To Making Money Offshore.

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.