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What To Expect > The Purchase Process

If this is your first time investing in overseas real estate, or if you’re an experienced overseas buyer who has never purchased investment real estate in Costa Rica before, or if you’re new to the land and/or timber investment process, we understand that you will have many questions regarding the process and legalities. The following text will help to understand the details of investing in Costa Rica in practical terms. As in most countries, the purchase usually takes place in 5 stages:

Step 1: Reservation

Once you're ready to make an offer on one or more plots in one of our timber plantation or development land projects, you will need to pay a 10% deposit to officially hold the plot(s) until the act of sale. This deposit is fully refundable (less an administration fee of 150 EUR) prior to the date agreed for balance of payment in the event the sale does not go through. Coordinates will be given to wire transfer the reservation deposit to the escrow bank account.

Step 2: Offer to Purchase and Balance of Payment

As soon as the reservation deposit has been received, your investment advisor will write up the offer to purchase for your Costa Rican building plot and obtain all necessary signatures. The balance of the purchase is normally payable within 8 working days after deposit receipt, unless otherwise negotiated.

Step 3: Mortgage Coordination

If financing is required, Costa Rica Invest is happy to refer our clients to a variety of external finance providers. Please note that the deadline for balance of payment in sales which require financing are the same as those without. Buyers should be aware that during the approval process, the bank will ask you for various documentation, including statements regarding your income, assets, debts, and identification. Once the bank has all their paperwork in order, you will be given an approval letter.

Step 4: Management Program

If you are interested to use the proffered onsite management program for your tropical hardwood plantation plot, the maintenance company will then make contact with you to offer their services. If you accept their service package, the maintenance company will begin invoicing you from the start of the month following the month in which the purchase is complete (at a cost of 42 EUR per 1000 square metres annually). Please note that there is no charge for the maintenance of non-teak / non-forestry plots.

Step 5: Act of Sale

Notary transfer of the deeds takes place once the cadastral is prepared. Our selected notary travels to Europe throughout the year, and a meeting may be arranged for signing the deed at a cost of 420 EUR. Alternately, it may be possible to have a notary in the buyer’s local Costa Rican embassy complete the deed of sale (charges applied directly from the local notary). American investors may also choose to give a power of attorney for the signing of the deeds. In addition, clients may travel to Costa Rica directly to sign the deed.

Act today, don’t let this opportunity slip through your fingers!
Give us a call at +353 1 272 4184.