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Closings in Costa Rica are more formal than in USA or Canada, you normally need to be present at closing or you would have to grant a POA to your attorney to represent you on the signature of the transfer deed.
The transfer deed is printed in the Book Deeds or Protocol of the Public Notary (in many cases the same attorney).
Make sure you are properly represented (once again do not us the same attorney from the developer) make sure your attorney confirms the title number with the survey number to make sure your unit is the same matching the title number.
We have seen it happen many times where the unit someone buys does not match up with the property title number and the buyer actually bought the neighbors condo on paper. This takes quite some time for us to fix so it’s best to get it right the first time.
Make sure you get copies of all closing documents from your attorney. It is very important that you request a certification from the Municipality as to property taxes are paid up to date.
If you have the opportunity to request copies of all building permits and environmental permits from the Project this would also be of your benefit, some projects have not complied with such and could be shut down by governmental authorities.
I personally have a condo in Coco and I have as property manager called Juan Carlos Peralta, who has has done a great job for us.
Thank you Lic.
Confirming that you are in fact buying the condo you think you are buying is certainly great advice.
I read about a similar story a few years ago where a man in California, USA bought a fixer-upper, he spent over $100K fixing it up only to discover he had in fact bought the home next door to the one that he fixed up…
Needless to say the owner of the newly renovated home had no intentions of paying for the work done and the poor guy had spent all the cash he had so he had to move into the fixer-upper that he now could not afford to fix…
Scott Oliver – Founder
WeLoveCostaRica.comThis sort of thing happens more often than you might think. When Marcia and I were first married, we made an offer, which was accepted, on a subdivision lot. Only when the surveyor tried to stake out the house we wanted to build did we discover that we were on the wrong property. The lot we were actually buying was the worst one in the neighborhood. Fortunately, no money had changed hands and we backed out.
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