Purchase process when buying land
How does buying a plot of land in Costa Rica work?
- Verification of all entries: land registry, owner, debts
- Pre-sale contracts: set terms and conditions. Usually a deposit of 5-20%.
- Escrow is recommended in any case.
- Due diligence period. Read more here
- Notarized Contract of Sale: Transfer of Ownership. Takes about 2 weeks-| Month.
- Registration in the National Register
- Acquisition with several: agreement on joint representation or individual representation
- Acquisition as a corporation: liability not with own assets
- If the buyer is not in the country: Contract of sale with power of attorney (required before the consulate or notary).
Other important topics for starting a business:
- Where can I have my documents certified in Germany?
- Building can be the more cost-effective alternative!
