Sunday, December 24, 2017

FAQs about buying property in Costa Rica and other facts about this beautiful country

How much to buy a house in costa rica



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Frequently Asked Questions About Costa Rica


Buying Real Estate in Costa Rica


Q. Why are so many Americans, Canadians and Europeans flocking to Costa Rica to buy property?


Q. Can a non-Costa Rican purchase and own property in Costa Rica?


Q. Do I need to use a realtor or broker to buy property in Costa Rica?



Q. How is title transferred?


Once a transfer deed is accepted for registration, the Public Registry will return the original document with all the necessary stamps.


Q. How much are the closing costs?


In addition, buyers need to anticipate land transfer tax, legal fees, and other fees of around about 2.56% of the declared value of the property.



Q. How much are property taxes in Costa Rica?


The real estate tax is based on the declared value of the property. This tax is applicable throughout the country regardless of the property's location and payable when transferring title.


Q. Do foreign buyers have to pay capital gains tax in two countries - their native country and Costa Rica?



Q. Who pays the sales commission?


Q. How can a foreign buyer ensure that he has clear title to the property?


The Registro de la Propiedad (Property Registry) is located in San Jose - Zapote, where all property documents are recorded. A title search at the Registry would confirm good title and proper ownership. In the event that adjustments were made to any given title, these alterations must have been recorded at the Registry.


The Public Registry report (informe registral) provides detailed information on the property, including the name of the title holder, boundary lines, tax appraisal, liens, mortgages, recorded easements, and other recorded instruments that would affect title. Title insurance further ensures that a real estate purchase can be fully secured.


Q. Do foreign buyers need an address in Costa Rica to purchase a property?


Some of the foreigners without residency travel throughout Nicaragua or Panama for a couple of days to discover more of Central America and to renew their visa.


Q. Are there regulations regarding beachfront properties?


The first 50 meters from the mean high tide mark cannot legally be built on by anybody, as it is considered public beach. From that point, the next 150 meters is restricted and subject to the Maritime Zone Law. It cannot have an "original title," but can be leased by a concession from the local municipality.


General Information About Costa Rica


Q. Where is Costa Rica?


Q. How is Costa Rica divided up?


Q. Where did Costa Rica get its name?


Q. Are these two coasts the same?


Q. What is the Pacific Coast like?


There are some spectacular stretches of coastline, and most of the country's top beaches are on the Southern Coast. The coast varies from the dry, sunny climate of the northwest to the hot, humid rainforests of the south.


Q. What is the Caribbean Coast like?



Q. Where is Costa Rica located?


Q. What is the interior of the country like?


Q. What is the weather like?


Q. What about the Central Valley and San Jose?


The country's earliest settlements were in this area, and today the Central Valley (which includes San Jose) is densely populated with decent roads, and dotted with small towns.


Many of the mountainous regions to the north and to the south of the capital of San Jose have been declared national parks (Tapanti, Juan Castro, and Braulio Carrillo) to protect their virgin rainforest against logging.


Q. What is the Guanacaste and the Nicoya Peninsula area like?


Now that the new international airport in Liberia is up and running, travelers can get to this region on daily direct flights from North America.


Q. What is the weather like in the Guanacaste area?


Q. What documents are required to enter Costa Rica?


Q. What currency is used in Costa Rica?


Q. When is the best time to visit Costa Rica?


Q. When are the rainy and dry seasons?


The dry season, commonly referred to as summer by residents of Costa Rica, is from mid-November to April. In Guanacaste, the dry northwestern province, the dry season lasts several weeks longer than in other places.


Q. What are the important holidays in Costa Rica?


Q. Is air travel available to Costa Rica?


In addition, Delta, American, US Airways, United and Continental all have regular non-stop commercial flights to the international airport in Liberia from their hubs in Atlanta, Miami, Charlotte, Chicago, and Houston.


Flying is one of the best ways to get around Costa Rica. Because the country is quite small, flights are short and relatively inexpensive.


Liberia is the gateway to the beaches of the Guanacaste region and the Nicoya Peninsula.


Q. Do the cruise lines go to Costa Rica?


Q. What makes Costa Rica so attractive to visit?


Costa Rica has 26 national parks, protecting more than 11% of the country. Many of these national parks are undeveloped tropical forests. Costa Rica is also a relatively compact country, which makes visiting several destinations during a single vacation both easy and enjoyable.


Q. Why is Costa Rica known for its ecology?


Q. What is the capital of Costa Rica?


San Jose was built on the profits of the coffee-export business. Costa Rica's climate, and specifically the climate of the Central Valley, is ideally suited to grow coffee.


Q. What are some other areas in Costa Rica that are popular with natives and foreigners?


Both Escazu and Santa Ana are popular with the Cost Rican professional class and North American retirees and expatriates.


Q. What is Costa Rica's population?


Q. Is Costa Rica a stable country?


The literacy rate is high, as are medical standards and facilities. Perhaps, most significant, at least for proud Costa Ricans, is that this country does not have an army.


Q. What is Costa Rica's relationship with the United States?


Q. What are Costa Rica's natural resources?



One-fourth of Costa Rica's land is dedicated to national forests, often adjoining picturesque beaches, which has made the country a popular destination for affluent retirees and eco-tourists.


Q. How does Costa Rica fare economically?


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* The information above is general background about purchasing property in Costa Rica and is not meant as a substitute for the advice of your attorney or accountant, who can take into consideration your individual situation


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