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Purchasing Real Estate

This forum post has messages dated from 08/05/06 through 07/28/09, please be sure to read all the messages. If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it.

Forum Post
08/05/06 17:25
Jodie

Purchasing Real Estate

Has anyone had any experience purchasing property in CR? I'm looking at a condo. Has anyone had any experience with a developer by the name of MN Partners Of Costa Rica?

Jodie

Comment #1
08/17/06 13:30
Vince Matlock

Yes I have purchased property before. You need to work with a local attorney who will search public records to make sure that the seller is indeed the owner, free of liens, etc (just like in the states). There are American title companies down there but you really don't need them. Haven't heard of MN Partners but you should due your due diligence as in any deal. Is the HOA in place? Ask for a copy of the by laws, etc
Comment #2
08/11/08 13:23
Fred

You will see other postings by persons who feel they have been cheated by this group.
Comment #3
10/08/08 14:20
candice

what are the vacationing hotspots in CR?
Comment #4
01/17/09 22:40
Helga

It is a brilliant move you have done here by asking and investigating about these real estate agencies. I commend you for being a smart one and not acting or mere impulse.
Comment #5
06/22/09 01:45
Chris

Top 5 Costa Rica Destinations

1. Manuel Antonio National Park

2. Montverde Cloud Forest Reserve

3. Arenal Volcano & Hot Springs

4. Tamarindo & Playa Langosta

5. Corcovado National Park & Drake Bay

In Costa Rica you can:

* Witness active volcanoes like the Volcan Arenal, Irazú or Poás erupt daily.

* Sunbathe on the beautiful beaches of Cahuita, Drake Bay and Pavones.

* Go surfing, swimming, snorkeling and sport fishing in Tamarindo, Playa Grande, Playa Ocotal, and Playa Negra.

* White water raft on the Rios Pacuare, Revenatzon or Parrita.

* Tour the amazing Manuel Antonio National Park.

* Visit the wet yet stunning Monteverde Cloud Forest.

* Explore the remote Southern Pacific Coast of the Osa Peninsula & the Piedras Blancas National Park.

* Tour the Guanacaste Region with the fiery Volcan Rincon de la Vieja.

* Party on the exotic Southern Caribbean Coast in places like Puerto Viejo and Cahuita.

Comment #6
06/30/09 17:30
Tom Roucek

No we have not heard of this group even though we are located very close to Escazú

Not having had any experience with them we can not comment on their reliability but can offer some information on what to look for.

• Do they have a successful track record with other projects in this country? If in fact they tell you so, take a day and visit one knocking on a few doors to talk to the owners. Did they perform as promised? Have they continued to be helpful after the sale? Would they buy another unit from this group?

• One of the problems in CR as well as other countries outside of the US is that developers are not required to post a performance bond, so if they fail who picks up the slack to make sure the investors are protected.

• The other problem is developers here do not escrow funds and deposits until the time of completion and the closing. This means that most of the time they are paying for the construction as the deposits and payments come in. This may be great for the developer saving them construction interest, but if they fail you have no recourse.

To be safe you have two choices:

1) do all of your homework and be diligent about getting all of the above questions answered.

2) The best advice: buy a unit that has already been built and even then, I would strongly advise speaking to the owners before giving up that deposit.

Good Luck, and feel free to visit us or ask questions at our website for Costa Rican Realty Group

Comment #7
07/18/09 05:42
Tina

These are the top things to see in CR:

1. ARENAL VOLCANO NATIONAL PARK

2. MONTEVERDE

3. MANUEL ANTONIO

4. TORTUGUERO

5. CANOPY (TREE TOP) TOURS

6. WHITEWATER RAFTING

7. LANKESTER GARDENS

8. BIRDWATCHING

IRAZU VOLCANO NATIONAL PARK

10. POAS VOLCANO NATIONAL PARK

11. CORCOVADO

12. CAHUITA

13. NATIONAL THEATER & GOLD MUSEUM

14. JADE MUSEUM

15. BUTTERFLY FARM & INSECT MUSEUM

16. RINCON DE LA VIEJA PARK

17. SARCHI & COFFEE TOWNS

18. NATURE LODGES

19. FISHING

Comment #8
07/18/09 10:37
Rosio Gayoso-Mortil

Contact Camara Costarricense de Bienes Raices, Costa Rican Board of Realtors is the biggest association of Real Estate brokers in Costa Rica.TELF in San Jose 22832891 www.mls-cr.com with listings of registered realtors.
Comment #9
07/28/09 06:52
Isaac

The rule of the thumb is , 'If it does look good or makes you have certain reservations, do not put it in.' That is what happens when we are about to undertake steps and have no choice. The fact that you have asked about the agents means you might have heard of rumors of malpractice.

Have the attorney confirm whether they are genuine or not. You might have to taste the Costa Rica real estate waters on your own.

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Poor man's paradise

Keep this min mind... . Some people like to call Costa Rica various things like Puerto Rico or Costa Rico. Costa Rica translates to "Rich Coast"... check out Costa Rica. Costa Rica is also two words, not one, ie: Costarica or CostaRico. San Jose is the capitol city of Costa Rica. The San Jose International Aiport (SJO) is really located in Alajuela, Costa Rica (about 15 km from the Capital San Jose). Have you added a link to us from your website? (2701463557):

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