Working with a real estate agent and attorney makes property acquisition in Costa Rica easy

The transparent process of buying a property in Costa Rica added with friendly property laws attract people to invest in real estate. But still, you must not take things for granted when buying or selling any property, and it is essential to do your due diligence besides ensuring that you work with professional real estate agents. Foreigners can buy properties in their name or the name of their corporation just in the same way as the local people because the property rights are the same. The only exceptions are beachfront concession properties where the rule is different and restricted to foreigners. The transparency of the property transaction process is very reassuring because there is nothing to prevent foreigners from owning property in Costa Rica.

The Real Estate registry

Property purchasers in Costa Rica must hire a real estate agent for easy property search, and buyers must know how to find the right Costa Rica real estate broker. Besides, they must also hire a real estate attorney to complete the transactions by ensuring legal compliance. The lawyer can ascertain the genuineness of the property by searching the title that must appear in the central land registry. It will help to know if there are any restrictions imposed on the property depending on its character.  Low property taxes between 0.25% and 1% annually, is another attraction for buying a property in Costa Rica.

Additional security of real estate agent

The real estate agent or company provides extra security in property transactions as they follow standard rules and regulations binding on international franchises. Choosing a real estate agent who lives in the community within the area he or she services or where the property is located will provide an added advantage. They have more information and insights about the local conditions than someone from a different area.  But all real estate agents are not alike, and you must probe thoroughly to be sure about their bona fide business identity to avoid falling into the trap of scammers.

Look for professional certification and endorsements

Although the real estate market in Costa Rica is attracting people from around the globe, you must choose the real estate agent carefully because the business is unregulated. To ascertain the professional status of the agent, inquire if they have a membership of any national associations of real estate professionals like National Association of Realtors (NAR) or any other regional association like Costa Rican Guanacaste Association of Realtors (CRGAR) and Costa Rican Real Estate Association (CCBR).

Finding a real estate agent

To find a real estate agent with a good reputation, you must ask people around who should be able to tell you about the credibility of someone who you want to work with. Since most of the communities in the country are quite small, it should not be too hard to locate a reliable real estate agent who has the experience and expertise of completing transactions to the satisfaction of buyers.

While the agent helps to locate a property, the real estate attorney ensures a smooth transaction.

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