Municipality Land Auction

[johnr]

Does anyone have any experience with this? It is my understanding that the municipality will take out an ad in a newspaper then auction property. However I am not clear on how the “auction” will actually be conducted. Sealed bid? Live auction? I am having touble getting details.

[Andrew]

I have looked into auctions of real estate in Costa Rica and as one might expect, it’s not a simple matter.

If you are an experienced real estate investor who is FLUENT in Spanish with INTIMATE knowledge of the Costa Rican legal system and also have attorneys who have SIGNIFICANT experience with auction sales of real estate in Costa Rica, then I would certainly encourage you to investigate further.

If not, I wouldn’t go near it … I certainly do not…

Hope that helps…

Scott

PS. There is some OLD information in our Download Library about buying foreclosures at auction which might help you but again, it is old.

[johnr]

[quote=”Scott”]I have looked into auctions of real estate in Costa Rica and as one might expect, it’s not a simple matter.

If you are an experienced real estate investor who is FLUENT in Spanish with INTIMATE knowledge of the Costa Rican legal system and also have attorneys who have SIGNIFICANT experience with auction sales of real estate in Costa Rica, then I would certainly encourage you to investigate further.

If not, I wouldn’t go near it … I certainly do not…

Hope that helps…

Scott

PS. There is some OLD information in our Download Library about buying foreclosures at auction which might help you but again, it is old.[/quote]

Thanks Scott I will take a look. It is my understanding that it was seized on a tax lien and I am having our CR lawyer look into it and our builder would handle the auction (he has apparently purchased at municiple auctions before).

Again – thank you.

edit: we are not planning to use the property to build although it does have a nice 300 meter road access for commercial potential one day – we would be looking to buy it to provide a nice green buffer to our developing property.

[Author]

Posts