Apr 102004

I am going back through my early posts and updating some of the tags and looking for errors. I’m not sure what I had in mind with this one. I think that it must have been a cut & paste from some other article that I found. There is some useful information here, but it has some expressions and concerns that are definitely not mine.”

“Research the Property Information. Request your attorney to conduct a title search at the Registro Publico (Public Registry) about the property you want to buy.
By law all properties must be registered in Registro Publico. Most properties have a title registration number called the ‘Folio Real.’ Once you have this number you can search the database. The Registro Publico’s Report, called the ‘Informe Registral,’ contains information such as the name of the title holder, boundary lines, tax appraisal, liens, mortgages, recorded easements, and other records that could affect the title.

Costa Rica follows ‘first in time, first in right’ rule. Additions to a property title are prioritized according to the date they were recorded. So make sure your attorney searches your title back to the beginning. You’re laying out a lot of hard earned money for this property, God forbid you should wake one morning to find some smiling fool standing on your porch, waving a long-lost mortgage-from-hell under your chin, announcing that you have until four o’clock to pack your traps and be on the train back to Anaheim.”

Dec 312003

Moving to Costa Rica in 1999 with my wife and my 3 kids, one of whom was married and was accompanied by her husband, we set up shop in an area of the country where there were very few North Americans, or “Gringos” as we are called here.

We bought in San Isidro de Perez Zeledon after living in Costa Rica for about a year. We had felt that we should purchase something down on the coast, but were taken with a little finca, or farm, in San Isidro, and so with that acquisition went our funds for buying on the coast.

How are we about the decision so many years later? Well… as real estate investments go, we have done well, but there is always that feeling of “would’a should’a could’a”.

I find myself consoling a lot of people that visited here some years ago. They say “would’a, should’a, could’a,”, and I say (having lived through this myself), “if you had it to do all over again, you would likely make the same decisions.

10 years ago, Dominical was pure jungle, there was not a paved road in sight, electricity was episodic, phones non-existent, mud was ever-present”. I say ‘power to those guys’ that bought in those conditions, and took what I feel was a huge risk.

We are in the process of looking into a coastal investment, but the huge profit deals are harder to find now than they were when we arrived. We are not complaining too much. We are happy here, have learned the language, and the culture.

I have been motivated to start this blog since I am a web developer. This has given me a unique perspective on the market in that, in the last year and a half I have seen a veritable explosion of real estate activity.

Between my search engine optimization services, and my Dominical web site Dominical.Biz the topic of real estate in Costa Rica has come to occupy a rather sizeable place in my family’s life.

Interested in Costa Rica real estate as an investment. They primarily live somewhere else, but they own property in Costa Rica for the asset appreciation potential as well as possible rental income. Some just buy and hold (land-bank). For developed properties, the investor has a vacation home to visit as desired.

Migrators spend a regular amount of time in Costa Rica during each year.

Re-locators are those that are looking to move to Costa Rica from wherever they are. They will live full-time in Costa Rica.