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Does anyone know anything about CR-Home REalty in Grecia? Are they honest do they have a good record
If you read their own comments on their own web forum, you will see that they admit to having made some mistakes, as have most mortals. As with doing business with anyone in Costa Rica, and most other places, and as they advise, you must do your own due diligence.
In essence, that means that you need to protect yourself. If someone (anyone) represents that a piece of property extends from “. . over there to down there to up there to over there . . ” insist upon seeing a plano castrado registered in the National Registry, and walk those boundaries.
If you receive an assurance that the road will be paved next year, and that’s important to you, check it with the Municipalidad. If cable TV/Internet access is scheduled to be installed soon, go check with the cable company. If you’re going to need a phone, check availability of lines with ICE. Some folks wait years for a land line.
Verify the reliability of cost estimates, too, unless your resources are unlimited. Price out the cost of bringing in water, electricity, telephone and cable (if available) AT CURRENT PRICES. Don’t accept ballpark, “shot from the hip”, numbers. And verify what you’re told about building costs (and what is or isn’t included) or you may be shocked.
And finally, deal only with an attorney who is representing you exclusively, rather than someone to whom you are referred by the seller or real estate agent. That attorney has an interest in the real estate agent’s welfare, too. And, were it mine to do, I’d have a second attorney review everything (I mean everything) the first one did to be absolutely certain that things are as they should be. Take it from one who has two Costa Rican corporations, there are lots of pitfalls.
You explain it very well David. I have had my partner check out some of the fantastic deals they offer and found out that they do not own most of the property they offer, that’s ok. They are also offering to sell shares in a property investment venture. I am trying to do the same, however this is Scott’s site. So why haven’t you looked at some of Scott’s deals. One of his advertiser’s are offering some nice lots at $5 a square meter. That is a super deal and the area is nice. I wouldn’t be surprised if they havn’t sold out by now. Do you have an update Scott. In Scott’s Real Estate kit for $99.00 he shows you where to look and it includes his book. You must have Peterson’s Legal book also. I have ordered 3 sets so far and am going to order another for my partner. So start here. I wouldn’t be surprised if there is property next door to the $5 deal that are charging $15.00.
Stanley Putra
BBEDavid,
This is excellent advice, I have copied it and will turn into my own checklist for real estate buying in Costa Rica. From this paralegal’s point of view, you got it correct and worth saving for future reference.Thanks,
TomI would like to know if you are talking about the same guy I met with some “great deals” in a sleepy beach town on the way to Jaco. If he is the same guy, could you elaborate about his not such “good deals” and his way of mis-representing the price of the property. Thank you for any help regarding this matter.
DonnieYes
His first name begin’s with an R and I just got his newsletter. I have a few that I would love to buy but am short of cash. Looking for a few partners. I would like to meet make plans , goals. The property I look for is property on a need to sell basis where they offer financing. How can you beat that? I am looking at a 2000 SF with a waterfall on the property! I am not a realtor. Just a fellow that likes to talk Real Estate.
Stan PutraGo to the search and put the name in search. You will see postings where I got my butt chewd.
Stanley PutraHola Stan,
It looks like we are talking about the same guy, have you met him or did you here about him? I am trying to find a posting I heard about concerning a realtor who finds a local that wants to sell his property and tacks on additional money that he keeps above his allowed commission. Is this the same guy or someone different? Is there anyway to protect yourself from this sort of occurrence? I know you do all your research and have an attorney of your own choosing, but how do you find out from the beginning that you are getting the true price?
We seem to be in the same boat as far as looking for property in C.R. I am also short on cash and would like to get a few partners to get something going. I would like to buy some property that could be divided or a house that could be shared or rented out when not used by the partners. Any ideas on how to further discuss this or other similar type projects?
Pura Vida
DonnieDon
You post repeated 3 times . Go and erase 2. It is not hard getting the Tico’s to look for you. Don’t forget what their dailey wage is. The whole country is loaded with traps. The trick is to always be one step ahead of the system. You don’t need alot of money, just have two good traits. Honesty and a good Heart. You need to look for properties on a need to sell basis and also look at owner financing. nI have seen 5 properties like this. Put your email up in response to this post and when I get it we’ll talk.
Stan
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