Documents, tools and resources

Escrow accounts

Real estate trusts

Real estate trusts

When choosing an escrow company make sure it is properly registered with SUGEF. Some law firms offer the service, just be aware it is slightly riskier if they are not registered with SUGEF and a lot riskier if it is not a well-established law firm. When in doubt, play it safe!

Real estate trusts

Real estate trusts

Real estate trusts

Real estate trusts are only recommended for developers or complex transactions that would take time to close or that include financing. Real estate trust are also more commonly used in commercial real estate.

MLS Systems

Real estate trusts

Payment methods

There are no Multiple Listing Service (MLS) systems in Costa Rica, some websites refer themselves as MLS however contain a very insignificant part of the total listings available. Brokers control de market information and further valuable information can be found on the public registry

Payment methods

Inspectors, surveyors & more

Payment methods

Payments for real estate transactions are always made through wire transfers or cashiers checks of a local bank. Cash is always a huge red flag, you should not even accept an earnest deposit in cash.

Documents and contingencies

Inspectors, surveyors & more

Inspectors, surveyors & more

All options are available: offers, purchase and sales agreement, letters of intent (commercial & business), earnest deposit is always recommended as a closing would be easier to enforce if necessary.. Include any and all contingencies desired 

Inspectors, surveyors & more

Inspectors, surveyors & more

Inspectors, surveyors & more

It is not customary in Costa Rica to hire a home inspector when closing, nonetheless all precautionary actions are always highly recommended. Surveyors and geologist are always recommended when buying raw land

Real estate market participants, metrics and more

Lawyers and notary public

Lawyers and notary public

Lawyers and notary public

Notary public are mandatory in a real estate transaction to ensure a successful transaction, you can find out if they are in good standing conditions on the Costa Rican equivalent of the bar association.

Brokers and agents

Lawyers and notary public

Lawyers and notary public

Costa Rica has an unregulated real estate market were agents can independently operate a real estate business without the supervision of a broker. Make sure your agent has some experience and stability on the market you are interested in.

Days on the market

Lawyers and notary public

Real estate associations

 In Costa Rica metrics are not so easy to find and keep track, however properties on the market are not measured by days on the market but by months or years on the market. 

Real estate associations

Real estate associations

Real estate associations

There are two real estate associations in Costa Rica: CRGAR located in Guanacaste and CCCBR located in San Jose. Even when CRGAR is a newer association it is the one recommended for more actively enforcing ethics

Property appraisals

Real estate associations

Property appraisals

When financing you will be required a bank appraisal, please notice appraisals in Costa Rica are usually higher than real market prices as most appraisers use the asking prices of direct owners as a market reference., so finding an appraisal a 15% higher than real market prices is not unusual

Display their FAQs

Real estate associations

Property appraisals

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