Buy and build with confidence at Coco Bay Estates

The decision to buy property and build a home always involves questions and consultations. That’s even truer when investing in a foreign country.

In Costa Rica, however, you’ll find a standard, well-developed and reasonable process exists that – with the right experts and a good attorney on your team – you can navigate with ease.

In addition, many of the details and concerns that might hinder other real estate purchases in Costa Rica are avoided when you purchase and build within a private development such as Coco Bay Estates. We have the knowledge base and experience to make your buying and/or building experience as hassle-free as possible.

Whether you choose to own a Coco Bay Estates condominium home that you and your family enjoy several times a year on vacation visits and holidays, or you decide to build a second home retreat here on one of Coco Bay Estates spectacular residential lots, CRDG will work closely with you throughout the process. CRDG can also provide comprehensive management of your property when you’re not in residence or should you chose to put your home to work as an income-producing vacation rental investment. We invite you to visit Coco Bay Estates soon and get to know the CRDG team. You’ll soon know why 100% of our owners and suppliers are references for us and for Coco Bay Estates.

Below we’ll touch on a few key areas of the transaction, but throughout we recommend you consult an attorney who has knowledge of and experience with Costa Rican rules, regulations and procedures.

Be certain you can get a building permit. Ask questions like: Are basic services here and available? Are there other projects slated nearby (factories, road construction) that would be undesirable? Are there any environmental regulations to consider?

You will need a Notary Public. Notaries in Costa Rica have more extensive powers than their counterparts in the U.S. You’ll need one to execute a transfer deed on your property. There are specific questions and guidelines for selecting a Notary, so consult your attorney before proceeding.

Costa Rica follows a “first in time, first in right” rule when it comes to recording documents. Again, to ensure you obtain clear title as the buyer, have your attorney conduct an independent title search, SEPARATE from that provided by the seller.

Everything is negotiable, although local custom is for the buyer and seller to share these costs equally. Be aware, most times there is a difference between the registered value of property and the sales price. To avoid issues with transfer taxes and fees, consult an attorney.

Your application for a Costa Rican construction permit must be presented by a licensed architect or engineer. This is not only the law; it’s a great way to get cleanly through the jumble of processes and regulations involved with building in Costa Rica. At Coco Bay Estates, we can recommend a licensed professional, or you can find one through the Colegio Federado de Ingenieros y Arquitectos, or the CFIA (www.cfia.or.cr).

Financing, currency laws, zoning and taxes are all issues that a knowledgeable attorney can and should help you with, so again, we urge you to have one on your team from the very beginning of this process. If you don’t have an attorney, we can provide a list of professionals we’ve worked with in the past.