Faq Group
We do not recommend private lenders due to their high interest rates, which can reach up to 18%, plus a broker fee of 3-4% of the loan amount. Additionally, these loans place a lien on your property, giving the lender rights to seize it if a payment is missed. Instead, we suggest seeking seller financing,…
If a property has an existing mortgage, the seller has two options: they can pay off the mortgage upon receiving payment from the buyer, or the buyer can assume the mortgage and continue payments under the seller’s name. In Costa Rica, an unpaid mortgage results in a lien on the property; once ownership transfers, this…
The lawyer checks the plano catastro number or property number in the government system for clean title, mortgage, defects, liens, concessions, etc, to make sure that a property is safe to buy.
Yes, in order to purchase a property in Costa Rica you must use a local registered Costa Rican lawyer. Only they have access to the system to register your property.
