Top 10 tips for Purchasing Property & Living in Costa Rica

1. A good reputable Law Firm that can assist you in all aspects of purchasing property and living in Costa Rica . (real estate transactions, explain the pros and cons in owning property in your name or establishing a Costa Rica Corporation,  residency issues, even purchasing a car).
   
2. A knowledgeable and reputable Real Estate Agent.
3. Spend some time and compare prices for similar properties in different areas. Get to know the area that you are considering, especially during the rainy season!
4. Consider building and everything that is required vs. buying an existing home.
5. If purchasing within a development, make sure you understand the contract and what exactly is the finished product you are purchasing. There are legal guidelines for different types of developments and you want to make sure the developer has followed those guidelines.
7. Always ask for an official survey of the property, check the infrastructure, i.e., water and where it comes from, power, drainage, access, soil conducive for building, environmental impact studies, building restrictions etc.
8. If beachfront property (the first 200 meters from the high tide known as the Maritime Zone) be ASSURED of the type of property you are buying, possession, concession or titled.
9. Once you have decided on a property, the first step is to take the property off the market during the due diligence period. The most common procedure is to establish an earnest money deposit (usually 5 to 10% of the purchase price and fully refundable if all the conditions of the contract are not met) with a purchase agreement that states the terms, conditions and obligations required by buyer and seller in the purchase of the property.
10. Infrastructure and accessibility of the area to health services, banks, pet care, super markets, shopping and any other services that you may require.
11. Consider security issues depending on the type of property you purchase. If you are not purchasing within a condominium or residential community with administration on site, you may want to consider a caretaker, especially for larger parcels of vacant land and especially in more remote areas. You do not want to deal with squatter issues down the road.