Could use some insight into a possible purchase.

[azjimaz]

Hi everyone, I’ve just joined your group this week and have been researching real estate opps. in CR. I received a brouchure from Worldwide Land Investments and they are offering 5 acres of ocean view land for $45,000 U.S. It is near the village of Manzanillo.

Could any of you offer input on either the company or the area? I, like some of the other folks that I read responses from, have a problem with the heat and am looking for a cooler and possibly less humid location to settle.

Any suggestion or advise would be much appreciated.

AZJim

[*Lotus]

If you don’t like the heat the central valley is the place for you. Atenas, San Ramon, Grecia etc…Lots of info on these places in this forum and a few people who live in these areas. I’m sure you’ll be getting plenty of good ideas.

[kimikins]

Hi There,
I live near Manzanillo, and work in the Real Estate industry.
The property you mention sounds as if it is a very good buy. Be cautious of “deals too good to be true” here though…
Most of the Manzanillo area is in reserve. This means special permits to remove any trees, etc….and other important handling of the land including the fact that you can only develop (build on) 20% of the land you own. IF YOU OWN IT.
Depending on it’s location, it may be within the 200m maritime zone which will mean you will not own title to the property. Ownership within the Maritime zone is right of possession, or concession.
Read Scott Olivers book FIRST for more help with buying in Costa Rica. It is very helpful!
I have nothing to say about the company involved as I have never heard of it. Caribe Sur is the reccomended RE company in the area as you will read in the book. This is where I am.
With Regards,
-KS

[Andrew]

Yes! When it sounds too good to be true …

Do your homework thoroughly on any piece of property that you plan on buying, get the folio real number and get a title search done BEFORE you agree to anything – Is it not worth spending $99 to get a title asearch done if you are planning on investing $45,000? Of course it is…

I have heard of the company on many occasions and I have spoken with former employees of that company and to be blunt, the feedback has not been positive. That’s what’s called a typical British understatement.

Scott

[Author]

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