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I am in the process of purchasing property from Costa Developers in their Costa Montana project. They are asking me to wire the funds directly to their bank account. Can I be sure they will set up the corporation and transfer the property to me, as they say they will in their contract, without using an escrow to hold the funds?
Is this standard procedure in Costa Rica?
Have you already checked the title of the property that you are buying?
Unless it’s specified in writing today and not some ‘to be determined’ date in the future, I would suggest that you can not be sure of anything.
Scott Oliver – Founder
WeLoveCostaRica.comWhat he said . . . and more.
The conventional wisdom is that your should have your own attorney, one who represents you exclusively, check the title, etc. And any deposit money you put up should be escrowed with your attorney, not theirs. If this deal falls through, getting your money back may be very difficult.
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