Why Use A Realtor To Buy Your Home in Costa Rica
The purchase of a home is typically the largest purchase the average person will make in their lifetime. Buying a property can be as much of a challenge as selling one, especially if you are going it alone.
That fact is even more pronounced here in Costa Rica, where the system and language are often completely different than it is back home. Without a proper MLS, how does one go about finding quality properties? What is the process of making an offer? What is legal and what is not? Should I purchase my home using an S.A. or LLC? What is an S.A. or LLC?
These are just some of the questions that will come up when making a purchase in Costa Rica. Do you know all the answers? Below, I have outlined just a few of the reasons it is important to use a real estate professional when purchasing a property anywhere, but especially here in Costa Rica.
- A good Real Estate Agent has an abundance of resources to assist you in your home search. It is very possible that the property you are seeking is available but not actively advertised in the market place, or is a ‘pocket’ listing that the agent has access to but is not yet listed for sale. This is especially true here in Costa Rica where for sale signs are not commonly used.
- Your Agent can assist you when selecting a home by providing objective information about each property such as historic information. Agents have access to a variety of exclusive informational sources and can go directly to the owners or listing agent to gather vital information about the home itself. They can also provide information about community, utilities, zoning, schools, etc.
- A Real Estate Agent can help you negotiate a fair purchase price. When negotiating, it is important to remember, don’t take anything personal. It’s BUSINESS. Some of the many negotiating factors including: price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment.
The purchase agreement should provide a time period for you to complete appropriate inspections, generally 10 calendar days, and time for investigation of the property before you are committed to purchase. One key point I like to make is often times a sense of urgency to sell does not exist in Costa Rica as it would in the United States. Why? Most people don’t have mortgages and holding costs are very low.
- Your Real Estate Agent assists with the due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, structural issues, septic systems and well tests. Your agent is invaluable in finding responsible professionals to assist you in doing many of these inspections. Your agent along with a lawyer or title company will help you review a preliminary title report of the property.
[custom_script adID=150] Clear title indicates ownership of property that can be easily transferred to you, the buyer. Title can be clouded in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. In Costa Rica, all clouds on title’s are referred to as ‘liens’ but you will learn that lien’s can also be good, such as the case of easements.
- Your Real Estate Agent can help with financing options and in finding lenders or owner financing. As it has always been, cash is king in Costa Rica but sometimes creativity is key to making a deal work.
- An agent can lead you through the closing process and make sure everything flows together smoothly, so that you come to the closing table with no surprises.
Working with a professional Realtor helps to alleviate much of the stress involved in taking the big step of purchasing a new home. It could also be the one factor that saves you thousands of dollars with your new purchase and turns a frustrating experience into something educational and pleasant. We look forward to assisting you in making your Costa Rican dreams become reality.
Why Use A Realtor To Buy Your Home in Costa Rica
Article/Property ID Number 4880
[custom_script adID=187]
Andrew Makarik
to@welovecostarica.comAndrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.
Are you into beautiful Costa Rica?
All interesting things you want to know about Costa Rica are right here in our newsletter! Enter your email and press "subscribe" button.
