Costa Rica Real Estate Scams And How To Avoid Them

Costa Rica Real Estate Scams And How To Avoid Them

If you are thinking that you couldn’t be tricked or deceived in a real estate transaction, then you are making a big mistake. Though people are now aware of scams in the transactions, the scams have become more complicated and customers are less likely to understand and avoid them. Scammers have become harder to mark.

It is always difficult for the foreigners to buy property abroad as they are new to the place and are unfamiliar with legal system. There are major players in the market who try to deceive you with your friendly nature knowing the fact that you are investing in the property you are unknown about. This will lead you to invest in the properties which may trouble you in near future.

If you are planning to buy a property in Costa Rica, then you are required to have an in-depth knowledge and understanding of the location, accountability, a legal system about the properties you’re investing on, etc. Having said that, it is always helpful to know about the properties for sale in Costa Rica, which will help you serve your interest, needs and choose the best option.

As there is a lack of MLS (Multiple Listing System) in Costa Rica, it is difficult to view all the properties at the same price. Therefore, it is advisable to take help from a qualified professionals or agents, who have knowledge about the fair market price, values, and potential hazards. You should not trust any random person or agent just, because he/she is from Costa Rica.

Before you make a deal, it is always essential to know the signs and procedures that will protect you in the future.

Things to consider while choosing the best properties for sale to help avoid the scams

Verbal Agreement

Since no standard license is required in Costa Rica, anyone can become an agent. Therefore, it is suggested that you take help from qualified professionals and agents. Do not trust someone on the basis of verbal agreement.

Do Research

You may find the same properties at different prices. Therefore, it is always helpful to do your own research. This will surely help you get the best option at negotiable prices. The legal documents are written both in English and Spanish. So, do check both the version before signing the contract and indulging yourself in any scam. Read the contract carefully and make sure that the documents given to you are in order.

Basic Requirements

Before buying the property, you should check the location, availability of water, phone, electricity and the exact plot size, which you are paying for. Sometimes you may have to pay for the space, which you are not supposed to pay for. For instance, if your property is near river, then you should leave 15 meters away from the stream. So, this way you can avoid paying for the extra 15 meters.

Right Solicitor

Choosing the same person as your seller and lawyer may keep you away from the hidden risk. So, it is always advisable to choose a different lawyer who will assist and works to your benefit.

Espana Gomez is an author of this blog. Recently she works as an interior design assistant in her town. She loves daydreaming about beautiful homes and interior decor.