Some Legal Issues regarding Living or Investing in Costa Rica

Costa Rica is one of the most beautiful, socialized and welfare country of Central America. It is situated just south of Nicaragua and north of Panama. Costa Rica possesses some of the beautiful beaches, wildlife, waterfalls, rain forests and numerous thundering rivers, and excellent lakes for windsurfing and boating. There are some legal consideration for living and investing in Costa Rica. People who want to invest or live in Costa Rica must understand these terms and regulations.

For registration of Costa Rica real estate transactions, mortgages, vehicles and corporations it has centralized registration system called National Registry (“Registro Nacional”). This registration system is very advanced and the Registry records not only documents (like other Registries all along other countries), but it also registries rights inherent of those documents. Most properties in Costa Rica are registered in a computer system and each property has an identification number called: "Folio Real". For different reasons there are some properties that are not registered meaning they don´t have a Folio Real number and therefore cannot be tracked properly in the Registry.

Before purchasing or buying any property in Costa Rica real estate it is advisable to perform a detailed study before the Public Registry. It includes checking Folio Real and also study of the transfer chain since the property was originally registered. Pending registrations are also present due to incomplete documentation, lack of payment of taxes etc. When you buy a business it is important to perform a more detailed study including: lease contracts, employment contracts, sales, income and property taxes paid to date, permits in place such as: Municipal permits, liquor licenses, Ministry of Health authorization, Insurance, Social Security, among others. Of course the advice of a lawyer and accountant are preferable in any case.

Property transfer in Costa Rica real estate require for buyer and seller to sign a deed before a Costa Rican Notary Public (whose concept is different than the one in many other countries such as the United States or Canada and is required to formalize all transactions dealing with real estate) and for such deed to be recorded at the Public Registry. Each property must have a registered map or survey to be locating the property in the field with exact measurement, actual boundaries, and description of buildings or structures. No property transfers can be made if the land does not have a registered map, and such map must be quoted in the transfer deed. If such map does not exist, it must be made by a specialized registered surveyor and then the transaction can be effectively achieved.

These are the some legal conditions and rules regarding investing or living in Costa Rica. But these are not the final words. I recommend asking for an advice of a specialized professional in the legal area about Costa Rica real estate. 

for more information about Costa Rica real estate investing visit http://www.propertiesincostarica.com/articles/some_legal_considerations_for_living.html

Costa Rica Nature Continues To Amaze

Costa Rica spans the entire width of Central America, from the Pacific Ocean on the west, to the Caribbean Sea to the east. It shares a border to the north with Nicaragua, and to the south lies Panama. The terrain varies from cool mountains and lakes to the tropical heat of the Caribbean beaches.

Costa Rica is an emerald jewel in Central America, boasting a diverse array of scenery, from the lush beauty of the tropical rainforests, to the unspoilt white sands and Blue Ocean of a Caribbean beach. 

In Costa Rica, dozens of mountain springs, streams, and rivers snake through the forest, and with so much freshwater, Costa Rica has managed to meet a significant portion of its energy needs through the generation of hydroelectric power. As runoff moves through lush terrain on its way out to sea, hundreds of cascading waterfalls can be found throughout the rainforests and mountainous areas. Numerous waterfalls are unknown or remain closed to the public, but many breath-taking ones make great destinations for a day hike and refreshing afternoon swim.

Beautiful Costa Rica

Costa Rica has nearly 300 different beaches along its stunning Pacific and Caribbean coastlines, each with a unique draw and distinct setting. Even on nearby beaches the sand can vary from white, black, or brown coloration. Some beaches are full of shells or scattered with rocks; others are soft with fluffy fine sand. Some are fantastic for swimming, and others are better for surfing.

Cloud forests are unique highland forests characterized by 100% humidity. A significant portion of their precipitation is derived from the surrounding clouds and mist. As a result of the moisture abundance, cloud forests maintain tremendous biodiversity, captivating visitors and scientists alike. For the most part, cloud forest zones are significantly cooler than their lowland and beach counterparts, so bring a sweater, light jacket, and your hiking boots to explore these enchanting highland jungles.

Tropical Rainforests are often referred to as “jewels of the earth.” They are home to two-thirds of all living animal and plant species on the planet. In Costa Rica, numerous destinations have rainforest walking trails. With the help of a local naturalist guide, you can discover the magnificent world within.

Costa Rica Natural Beauty

 Costa Rica Real Estate is way below comparable locations nearby and all indications are that it will continue to grow for a good few years yet. As a result Costa Rica real estate is booming, as more and more investors and developers from around the world are hearing that Costa Rica has favorable tax laws, inexpensive land, and a stable environment. 

If you want to know more about Costa Rica or Costa Rica Real Estate, do contact with us at: http://www.costa-rican-real-estate.com/ .

Top Tips for Buying Costa Rica Real Estate

Basically Costa Rica is separated into seven provinces, San Jose, Heredia, Cartago, Alajuela, Limon, Puntarenas and Guanacaste. The first four are known as the excellent urban place and around 60 % of all Costa Rica inhabitants live in this part of the nation.

There is no doubt that the impact of financial crises in United States and Now in Europe has had the direct adverse impact on the Costa Rican Real Estate market. The majority of purchasers and developers of Costa Rican Real Estate during the boom years came from United Estate.

Costa Rica is being marketed by the media in the states as the place for boomer retirement and now the spot in the world of real estate and due to its beauty, natural scenes, its democratic government and life style, it become more popular around the world.

Below are the some facts and tips for buying Costa Rica Real Estate,

Make sure you know the real value of the property.

·         Make sure you know the real value of the property.

·         Do not assume the seller or broker is trustworthy just because they speak English. This is a common pitfall.

·         Make sure the property you are about to purchase in not part of a nation park or is subject to restricted use. There are areas near Dominical, for example, that abut a rain forest where it is forbidden to cut any trees.

·         If you purchase raw land, be sure to get a soil sample and hire an engineer, especially if your lot has been cut out of a hillside. We know of one man who built a million dollar home on a bluff overlooking the beach. About a year later he had to spend $100, 000 to build a retaining wall because the rain started to undermine his lot.

·         If you buy in a remote region make sure you can bring electricity to the land. This can be expensive. Also check to see if the water supply is good in the area.

·         Do not rely on a verbal contract if you decide to make an offer. Get everything in writing.

·         Check out your neighbors. There is nothing worse than buying property and finding out later you had bad neighbors.

·         If buying in the city or near a major street check the noise level. Make sure there are no dancehalls, bars, rowdy neighbors or noisy buses.

  

·         If buying in the city it is extremely important to be familiar with the neighborhood where you decide to buy. Make sure you are not buying in a crime-ridden area. There are a few areas in the San José where you would not like to live. A good broker and doing your homework can help you avoid this disaster.

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How to Get a Good Real Estate Deal in a Depressed Market

The real estate market has continued to go down. The property prices continue to take a dive. It seems this trend will continue for a while. This means most properties will be worth less tomorrow than they are today.  A question arises how to identify a good deal in a depressed market? All kinds of properties like houses, condos, villas are losing value every day. Same is the case with commercial real estate properties. Everyone now buys property below market value. To get a good deal for real estate investment is necessary for investors and businessmen.

Learning to recognize a good deal takes research, education and above all experience. A standard to determine the good real estate purchase deal is to study different factors. First one is cash flow. It means will the property provide income? It also depends on many factors like strength of local rental market, the interest rate on financing. Second is Leverage. It is important for investors because the less cash they put down on each property, the more properties they can buy.  If the properties go up in value, their rate of return goes up exponentially. Third is appreciation. Buying in the right neighborhoods in the right stage of a real estate cycle will result in appreciation and profit. Fourth is equity. The properties in which you are investing have equity or not? Equity has number of forms like discounted price, a potential fixer upper and a rezoning opportunity. Last but not the least factor is risk. This is the factor on which very few investors consider. As an investor you should ask from yourself what can I do if my assumptions are wrong? Or do I have a plan B? If my observations and considerations are fail then what is alternative option I have to opt to save my investment.

These are some rules to judge a good real estate deal even in a depressed market. Costa Rica real estate investors and hard money lenders consider them before start investing in any project. It will help them to recognize current market trends and property values.

At last I would suggest all investor to check these standard factors in real estate business. Whether your deal is a commercial construction project, a high rise acquisition or a residential housing development, it will help you in all situations. You can complete business goals and requirements by considering them in your business.

For further information about Costa Rica Real Estate Investment check us at http://www.costa-rican-real-estate.com/

Real Estate Property Management

Anyone who enjoys selling real estate also enjoys 
having a brokerage. With several agents split their commissions with you, your own brokerage makes it easier to ride fluctuations in the market, an attractive benefits brokerage ownership. Of course, a broker can be found on supervisory duties that you do not have an agent, and you have to bear the expense for an office. But if you enjoy mentoring and have cash-flow management skills, the rewards can be great, mentally and financially.

Property Management in Costa Rica is a vital aspect of property ownership if you are an absentee owner. There are three distinct elements of Property Management that a good Property Management Company should be able to offer its clients and perform efficiently. Which includes?

• Owner Property Management
• Owner Rental Management
• Association Management

The Owner Property Management is for the folks who decide to own a property in Costa Rica and live somewhere else in the world. The need for a Costa Rica property management Company to oversee your Costa Rica property is an essential component in that ownership.

There are different types of property managements which include:

Residential or Apartment Property Management:

A Residential Property Manager will manage single family homes or a 1 unit property whether it be in a neighborhood, community or condominium association. They may also manage duplexes to large multi-unit or apartment buildings.

Vacation Rental Management:

If you own a property in a popular vacation destination and want to rent it out on a nightly or short term lease you may consider using a Vacation Property Manager. These management companies specialize in managing vacation rentals and know the in's and out's of this type of business.

Commercial Property Management:

A Commercial Property Management company will likely manage all types of retail and office space. This could include shopping and strip malls, warehouses, manufacturing, office building, parking facilities and hotels. If your property use is for anything other than residential housing, chances are it would fall in the commercial management category.

Community Association Management:

If you are looking for a management company to oversee all aspects of the management of a community association as a whole, then look no further. You are in need of a Community Association Management company. They will take care of all maintenance, financials, enforcement of community rules etc.. for the whole community.

Whatever you decide your goals are with property management it is important for you to understand what those goals mean, so you can make the best decisions from beginning to end.

We deals in Costa Rica Real Estate Business, If you have any query, do contact us for further assistance at:http://www.costa-rican-real-estate.com/

Costa Rica Real Estate