Santa Teresa Costa Rica Real Estate
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Buying Real Estate in Costa Rica

Buying real estateĀ in Costa Rica usually begins with a Broker or Real Estate Agent, who carries out the offer process and writes the initial Sale and Purchase Agreement (SPA). Then, the property is verified by a Surveyor, transferred by an Attorney, recorded at Public Registry and finally registered for taxes at the local Municipality. Langston Realty walks with you every step of the way. Please find below a more detailed breakdown of the process:

 

  1. Langston Realty evaluates listings, helps set prices based on recent sales, and carries out initial site analysis, due diligence and title abstracts on all properties listed.
  2. Buyers narrow their focus, view potential properties and learn more about the different communities in the great Santa Teresa area.
  3. Offers are made and Counter Offers are received. A Broker or Agent negotiates the deal until a price and conditions are agreed on.
  4. The Buyer chooses a Costa Rican attorney to represent them in the sale.
  5. The initial SPA is written up by the Broker and negotiated back and forth by the Buyer, Seller, Broker and Attorneys until a final version is ready to sign.
  6. The contract is signed, an earnest money deposit it made, and the due diligence period begins. Next a surveyor confirms the location and boundaries of the property and an attorney executes a full title abstract. Sometimes other inspections are necessary, especially in the case of finished construction or properties located on steep inclines.
  7. Once the due diligence period is over, and any deficiencies are corrected, a closing date is set by the Buyer, Seller and the closing Attorney who executes the deeds of transfer and confirms final payment.
  8. All paperwork is sent to the Public Registry for final recording and the Registry issues a new Property Title.
  9. The Buyer notifies the local municipality of the property registration and updates tax rolls.