Guys In The Zone: Costa Rica Real Estate

April 28, 2005

Do I want a farm, or a lot in a development?

Filed under: Info & How To's — Ben @ 6:49 am

There are a number of options for what type of land a person, couple, or family might like to buy we respect to Costa Rica real estate. In the case of myself and my family, we wanted to be immersed in the culture and language of Costa Rica. So we made our land choice accordingly. We bought inland near an established city of Costa Rica, but also in the country, and yet kinda near the beach. Weird sounding I know. The point being that our objectives that drove our land acquisition dictated where we bought.

In our land office, we have hear numerous objectives and goals for why the people are looking to buy land. Some are looking to get the land now while it is affordable, others are wanting to enhance their investment portfolio, while yet others are making a life-style change and are looking to quiet the internal dialogue.

Lately, we have had a rather large number of people coming into the office asking for large parcels: “fincas” as they are known here in Costa Rica. This may be to develop into several smaller lots, or to simply have a large buffer around their family. Buying a finca in Costa Rica can be a bit daunting for a number of reasons.

When you are buying a property that is still in a large contiguous piece, you may be stepping into what is known as “possession” property. There is still quite a bit of possession property around in Costa Rica. When buying in a development, this is generally not a concern. The “possession” status of a property indicates that the owner is known as the owner and has been such for a long time. He probably has some paper work on the land from the original transaction and he can produce witnesses to the fact that he is the owner. These witnesses are usually the neighbors of the property. So there are some extra considerations to buying such property. These concerns are not prohibitive, but require a certain amount of expertise from the buyer’s legal counsel and real estate agent.

Having said all that, this is the type of property that is right now enjoying a tremendous amount of popularity in the Dominical area. Consequently as you, dear prospective land buyer in Costa Rica, are searching the web, and looking at all those listings… and when you finally find the one that is just right for you, there is a good chance that the finca won’t be there waiting for you by the time you make your travel arrangements and get to Costa Rica.

This is where a truly interesting service offered by the folks over at Horizon Properties enters the scene. A customized service for the express purpose of helping prospective buyers to acquire farms. The service generally starts from the moment you walk in the door of the office, but it can be done from the internet as well.

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April 11, 2005

What the heck is the catastrado?

Filed under: Info & How To's — Ben @ 5:48 am

The below is a work in progress. Buying real estate in Costa Rica is a knowledge intensive endeavor. Little by little the country is getting modernized to where the property that one is looking at can actually be identified clearly and its pedigree determined. But the land registration process is also a work in progress.

Costa Rica just finished this last week the enormouse project of photographing 75-80% of the country from the air, using a NASA crew and airplane. Costa Rica had a number of reasons for engaging in this project, among which are:

~ getting information on flooding and how to better manage the problem
~ identifying the where and why of deforestation
~ evaluating the country’s water sources
~ evaluating the electrical and telecommunications system
~ and perhaps most importantly, the information will be used in the massive improvement efforts with respect to the National Property Registry, and National Cadastre.

There is a lot of work to be done, but the effort stands as a clear indicator that the government here is quite serious about getting its catastro in good shape.

Main Entry: ca·das·tre
Pronunciation: k&-’das-t&r
Function: noun
Etymology: French, from Italian catastro, from Old Italian catastico, from Late Greek katastichon notebook, from Greek kata by + stichos row, line — more at CATA-, DISTICH
: an official register of the quantity, value, and ownership of real estate used in apportioning taxes

“Cadastre” is English for what we use in Spanish “catastro”. The catastro is one step toward having the property under consideration identified and its status as regards size and so on registered.

The second thing that is necessary is the “escritura” or title.

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