Buying Process

Buying Process

Buying real estate in a foreign country can sound intimidating, but don't worry by choosing to
work with our Coldwell Banker office you are ensured to be working with professionals. Let's
begin by breaking down what that process and timeline look like. Naturally, every transaction is
a bit different but this gives you a rough idea on what to plan for.

Consultation

Our office has a strong emphasis on educating our buyers so they better understand the
market, helping them to make the best decision possible. So the first step is setting up an
appointment to talk to one of our agents to go over your questions, your goals, and your
expectations, so we can educate and guide you accordingly.

Submitting an Offer

This is getting exciting. You are educated, confident with the process, with the decision and you
are ready to make an offer on a property. Great, when you are ready to submit an offer it is
usually a written offer that consists of a 15-day due diligence period for you to review everything
you need to in order to feel confident and comfortable to then commit with a deposit held in
escrow. Total closings are typically 30-45 days.

Offer Accepted, What's Next?

OMG, this is really happening! Ok congrats on getting the offer accepted, now we go to work.
This is when we want to get the attorney involved and begin with due diligence on the property.
If you wish to have an inspection done we want to have that scheduled at this time as well. You
will also begin to open escrow, this can sometimes be burdensome and require a lot of
paperwork, if funds are coming to Costa Rica the trail of funds needs to be legit and extensive
so just take a deep breath and brace for some patience there.

Due Diligence Checks Out

Clean title, clean property, escrow is open, you are good to go. If you have not yet made the
initial deposit you are probably doing this now. From here you just need to schedule a closing
and prepare to send the balance of funds to escrow. A closing statement for both you and the
seller will be drafted a few days before closing so you can review and see the final amount to
send.

 

Some Additional Notes and Common Questions

 

What Should I Expect in Closing Costs?

Typically the buyer is going to be responsible for all closing costs which will run around 4%.
This includes attorney fees. You then might have a small amount to cover if you decide on
forming a corporation or having an inspection.

Does the Buyer Need to Be Here to Close?

Not necessarily, depends on ownership structure but in most cases you can set up a power of
attorney.

Should I Hold the Title in My Personal Name or in a corporation?

There are some pros and cons to both and would advise you to consult with your attorney as to
which is best fit for your needs.

We recommend looking into our professional services page for further help.

Get in touch with us today

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I have been traveling to CR over the past 18 years. My dream was to own a secondary property in CR and on my past trip in Jaco, David made that dream come true. We only had two days to meet with David, he lead us on the right path, listened to our demands and wants, found us the right property and 30 days later, he got the deal done. I could not be happier with his services and our new friendship. Not only did he find us the right "play", but he helped with property management, construction/remodeling aspects, and his wife Melissa is an absolute gem, and they our a great team when is comes to design and remodeling consultants. I highly recommend David for his services, professionalism, and honesty If your interested in buying real estate in CR, please connect with him and you won't be disappointed!
 
R Seymour, Wisconsin

Meg Berns does much more than just sell houses, She takes the time to listen and understand the needs as well as the dreams of potential buyers and makes sure the properties she shows tick all the boxes. Moreover, long after our purchase was finalized, Meg continued to support us by introducing us to property managers who will host our home as a vacation rental when we're not in it and helped us make other community connections to enhance our time when we are here. We would strongly recommend Meg as your real estate agent -- her level of service was way above any other we experienced. She's knowledgeable, operates with a high degree of integrity and genuinely cares about the well being and happiness of her clients.

Margaret Eaton, Costa Rica

Once I contacted David Karr about buying a house in Costa Rica, he never gave up. When we arrived in Costa Rica, he had made arrangements to meet with Chris and Joy Gillard since David was out of town. Believe me! They listened and found us our dream home! Chris and Joy were more than realtors, they have so much knowledge about Costa Rica and we now consider them our friends.
I’m so glad they took us seriously and stayed in touch! Thank you so much for continued advice and assistance after the sale! We couldn’t have done this without this team!’

Vonda Chancey, Costa Rica

As a prospective buyer, I consulted with David regarding the local property market, potential challenges as an international second home buyer, as well as specific property details and closing process. David also connected me with his network of professionals such as real estate lawyer. A typical realtor will focus on closing the deal. What sets David apart is truly a consultative trust based approach whereby I felt totally comfortable in the advice and guidance I was getting. I always felt that David has my interest above and beyond his own commercial interest. I truly believe having David on your side is a great start for any prospective buyer or seller.

R, Kabra

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