Guidelines for Purchasing
Real Estate in Costa Rica

INFORMATION

Costa Rica has become a popular destination for travel. Prices at the Beach have quadrupled and change daily. To facilitate your potential purchase, the Seller’s request that you consider the following guidelines to purchasing real estate in Costa Rica.

1. Once you have made flight reservations, please notify the Broker immediately of your arrival and departure date and the location in which you wish to purchase. In order to make the best use of your time, the Broker encourages adequate communication prior to arrival.
2. The Broker can assist you with all your hotel, rental cars and tours to assure satisfactory service as we know the reputable services in all of Costa Rica. The Broker offers this assistance at no cost to you and is a part of our personalized service.
3. Upon arrival, please contact the Broker to schedule or confirm your appointment(s). We recognize that Costa Rica is a splendorous destination and that you are likely on vacation, however, we ask that you be respectful of the Broker’s time by keeping appointments and being punctual. Should your schedule change, please notify the Broker immediately. The Broker will make best efforts to reschedule, but cannot guarantee availability.
4. Prior to arrival, you will be asked to sign a non-binding letter of intent to purchase and a non-circumvent contract to ensure that your expectations and that of the Broker are aligned. An example contract can be located on our website. These contracts are non-binding and do not preclude you from working with other Broker’s if you choose. However, we appreciate loyalty from our potential Buyer’s and we offer our real estate service from coast to coast and border to border. We have created a network to provide the same professional standard that you are accustomed to receiving in your home country.

In the event that we reach mutual acceptance on a home, a wire transfer deposit of 10% or more of the purchase price. A Copy of the Certificate of Deposit from your Bank is to be provided to Broker prior to showing properties.

WIRE TRANSFER INFORMATION

• Escrow with an attorney of the Broker:
  Bank of Costa Rica, Jaco, Garabito, Puntarenas, Costa Rica.
  BCRICRSJ
  Your Name:____________________
  Passporte #____________________
  Country of Origin_______________
  Broker: WindStar Real Estate (Always Include)
• You can also choose to wire monies:
  Western Union, Jaco, Puntarenas, Costa Rica

TYPICAL PURCHASE

1. All purchases are ALL CASH with the exception of commercial business opportunities.
2. Buyer initiates a verbal offer of price and conditions;
3. Seller and Buyer have come to a verbal agreement;
4. Ask WindStar Real Estate for an Attorney referral. Your Attorney will initiate a corporation for real estate owned and formally write a Spanish contract to be registered in the National Registry. Required by CR Law. A copy translated in your language can be provided for a small fee.
5. Buyer makes a 10% deposit or more to affirm the written contract.
6. Due Diligence to assure clear title, searching ownership, liens, encumbrances etc.
7. When due diligence is completed, time frame to close is minimally 4 days. Extended closings are only permitted in the event there are conditions of feasibility study subject to the Seller’s approval. This depends on the type of purchase you are initiating. Typically for business opportunities, development cost purposes and utility availability.
8. The Seller has accepted your offer and obliged you with a feasibility study or in the event you change your mind all deposits are non-refundable. This is a standard in Costa Rica. We do not use the term “earnest money” and the deposit is construed as an intent to purchase with the remainder of purchase price to be paid upon closing.

The business of real estate in your home country is likely different than in Costa Rica. The real estate industry in Costa Rica has no regulations, laws or licensing and the Buyer is subject to the Seller’s and Broker’s customary terms of doing business.

Thank you for choosing WindStar Real Estate. We continually strive to earn your business. We are here to assist you in successful purchasing real estate.