Costa Rica
has no shortage of real estate investment opportunities. In addition, the
property acquisition process in this Central American country is similar to
what you'll find in the United States; for instance, all you need is a title
and a survey for most transactions. Real estate agents don’t have to be
licensed, but you'd be much better off working with members of the Costa Rica
Chamber of Real Estate Brokers that enforces the applicable laws and industry
code of ethics.
It also
helpful to keep in mind the country's unique regulations as regards real estate
acquisition. For instance, the courts follow the “first in time, first in
right” principle, so during a dispute, the property is awarded to the party who
claimed it first. As such, it is essential to register property deeds
immediately upon transfer. Every property is given a tracking number to be used
for all transactions, so steer clear of properties with no tracking numbers.
Hurricanes rarely make their way to Costa Rica, even along its Atlantic
coast. Earthquakes, however, pose a real threat; as such, buildings have to
abide by strict earthquake safety standards. Whether you're looking for a
tropical getaway or a place to retire and settle down, you're likely to find it
in Costa Rica.
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