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How To Buy Property in Costa Rica

Writer's picture: kelli frolandkelli froland
how to buy property santa teresa

Dreaming of owning a piece of paradise in Costa Rica? You're not alone. With its stunning landscapes, warm climate, and high quality of life, Costa Rica is a top destination for expats and investors alike. But buying property in a foreign country can be different than your home country. Here's everything you need to know to make your Costa Rican real estate dream a reality.


Why Buy Property Costa Rica?

Costa Rica is a top choice for many expats and investors for several reasons. It boasts a low crime rate, excellent education and healthcare systems, and a low cost of living. Whether you're looking for a retirement haven, a vacation home, or an investment property, Costa Rica offers something for everyone.


Can Foreigners Buy Real Estate in Costa Rica?

Yes, foreigners can buy most real estate in Costa Rica without restrictions. However, there are some exceptions, such as certain areas known as maritime zones (beachfront property), where sometimes special considerations apply. It's important to work with a knowledgeable real estate agent and lawyer to navigate these complexities.


How to Buy Real Estate in Costa Rica: Step-by-Step Guide
  1. Find a Reliable Realtor: Start by finding a reputable real estate agent with experience working with foreign buyers. They can help you navigate the local market and find the right property for your needs. A unique trait of Costa Rica is that exclusivity is not common and realtors often work together. Therefore one of the most critical steps is finding an agent you trust and who aligns with your views and they can then collaborate to find the right property for you.

  2. Choose the Right Location: Costa Rica offers a wide range of locations, from bustling cities to tranquil beach resorts. Consider your lifestyle preferences and budget when choosing a location.

  3. Inspect the Property: Before making an offer, thoroughly inspect the property to ensure it meets your needs and expectations. Consider factors like zoning, density allowance and utilities.

  4. Find a Real Estate Lawyer: Hire a qualified real estate lawyer to help you with the purchase process. They will ensure that all legal requirements are met and protect your interests throughout the transaction.Often times your real estate agent can recommend lawyers they work with.

  5. Make an Offer: Once you've found the right property, make an offer to the seller ( a Letter Of Intent). This letter is drafted by your lawyer defining your name, details of property and your offer for property. This is typically the beginning of the negotiation process.

  6. Draft and Execute an Agreement: Work with your agent and lawyer to draft a formal offer and negotiate the terms of the sale (a Purchase and Sales Agreement).

  7. Escrow: Typically ~10% is deposited in escrow to begin the due diligence process. You can work with your agent to find an escrow company.

  8. Due Diligence: Once the purchase and sales agreement is signed, you will go into a period of due diligence (typically 30-45 days), gathering and reviewing all the property history and information with your lawyer to make sure it meets your needs before completing your purchase.

  9. Complete the Purchase: Once the due diligence is completed, you'll need to complete the purchase. This involves authorizing escrow company to disburse the funds, signing the closing documents, and registering the property or transferring the corporation name.


Buying property in Costa Rica can be a rewarding experience, but it's important to do your due diligence and work with professionals who can help you navigate the process. With its foreigner-friendly property laws, central land registry, and low property taxes, Costa Rica offers a great opportunity for real estate investment. Whether you're looking for a vacation home, an investment property, or a place to retire, Costa Rica has something for everyone.


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