Sales Process Overview: Part 4

Part 4 of the article series explaining the sales process for real estate in Costa Rica.

This is part 4 of a 4 part series. Click for: Part 1 || Part 2 || Part 3

Due Diligence

The term for due diligence is normally 3 weeks, and closing is usually in 4. Due diligence starts when the deposit is made, which follows the the written Offer to Purchase having been signed by buyer and seller. This document will have the contingency points detailed out. Some properties have no contingency points, some have several, it depends on the property. This is one of the more important areas where you, the buyer, have to rely on the expertise of your broker.

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Understanding Real Estate in Costa Rica’s Southern Pacific Zone Part 1

Costa Rica History in knife metaphor

I’d say that about 1/10th of my time spent with people looking to buy property in Costa Rica’s Southern Pacific zone is spent in the actual buying/selling of property. The other 9/10ths is a mix of conversations regarding what’s involved with living here, as well as discussing the business of real estate in Costa Rica. … Read more

Two “Below Market” Ocean View Properties

Whales Tail view property Uvita

What a glorious rainy season it has been. After a few years of lighter than normal rains, we’re having a season now that fits the descriptions old-timers here give to what rainy season “used to be like”. Rains starting in the early to mid-afternoon. Going into, and perhaps through, the night. Partly cloudy but clearing … Read more

What Does the Matapalo Police Station Have to do With Real Estate?

I got asked the other day what the opening of the new Matapalo Police station has to do with real estate, and by extension, why is it mentioned in my “Costa Rica real estate” blog? Well, I’ll tell you – it all starts with land.

I was told some time ago about a dinner party here in The Zone where the host got up on to a table and announced: “I would like for all conversations about real estate to stop. If you are unable to comply, please leave.” It is reported that the room went quiet.

Costa Rica Real Estate and a few of its influencing factors
A few of the the “non-real-estate” factors that affect the value of “Costa Rica real estate”

Granted, this was back in “the day” – back when fortunes were being made on the buying and selling of land here in The Zone. Such conversations are not nearly as prevalent now as back then, but they are certainly a daily occurrence in my life, and I suspect that many here would make the same statement.

I contend that all news comes around to affecting, or being affected by land. If you are interested in moving here, migrating, retiring, or simply, to visiting here, the topic of property and its value will enter the picture. The managing of crime has a direct impact on the value of property.
As do:

  • tourism
  • currency
  • climate
  • water
  • taxes
  • animals
  • roads
  • laws
  • residency
  • language
  • culture
  • etc…

I don’t want to have this bulleted list go down through your floor, so the”etc…” embodies all the rest. This list is based on my time spent talking with people who want to move or migrate to here.

Returning to Matapalo: it is receiving a steady flow of foreigners moving in as re-locators, migrators, and investors. They did not have a police station there before, so it could be reasoned that any self respecting thief would view that area as the place to be and to ply their trade. The presence of a police station has a positive effect on this scenario. One would then surmise that the value of land there will hold steady or perhaps increase.

Along with some of the other appealing amenities: screaming views, proximity to both Manuel Antonio and Dominical, proximity to a gorgeous, unpopulated and miles long beach, quiet living in Costa Rica’s tropical jungle, you can now add “enhanced security due to the presence of a police station”. My question: how can a Costa Rica real estate blog not mention such a thing?

Currency: The exchange rate of the colon versus the dollar. One of the hot topics going on right now in many sectors of the globe is what the effect of the “recovery” is having on tourism.

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Where Is Costa Rica? 13 Million People Want To Know

Costa+Rica+Secret+Beach

I know what you’re thinking, “That’s beyond obvious, Mr. Guy In The Zone.” For those who tune into this blog on a regular basis, I agree… BUT, did you know that the search term “Where Is Costa Rica” gets over 13 million global monthly Internet searches? Two things came to mind when I saw this statistic—

  1. The Pura Vida Buzz, a phenomenon I will expand upon below
  2. Rising Interest in Vacation and Retirement
Costa+Rica+Secret+Beach
Searching for Costa Rica…?

The Pura Vida Buzz — The last time I asked the question “Where is Costa Rica?” I was waaaaay back in college.  My roommates were surfers, and they mentioned Costa Rica as a possible surf destination.   Search engines weren’t as populated with information in the early-90s, but there were a few travel books in the local bookstore.  The thing I remember jumping out at me was the color green.  Whether it was the frogs, the jungle, or the aerial views…

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New Office, New Ideas in Costa Rica

aerial+view+building+Costa+Rica

Yes, we moved… from our office in Uvita to a new, larger space in Ballena, just a quick drive down the Costanera Highway. Ballena and Uvita are both home to the Marino Ballena National Park, an area that is vibrant with wildlife, as well as, electric green and blue hues. Ballena is only 7 kilometers … Read more

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.