Buyer Tools

Considering moving to Costa Rica and possibly purchasing, simply renting, or building? Tools Designed for Individuals interested in Real Estate. Helpful forums, interactions with real estate professionals, information and media aiding education.

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• Risk Disclosures for Buyers

  These Risk Disclosures aid Buyers to be aware of the different types of risks that apply to the type of property ownership and legal standing.

  The following risk disclosures will be provided by Propertyshelf to listings which are affected by the respective legal/title issues.

  • Pre-foreclosure -- Be advised that this property is in pre-foreclosure.  This means that it is likely sellers will need approval from lenders in order to transfer title.
  • Lawsuit -- Be advised that this property currently has a lawsuit against it.  Buyers and agents are advised to understand the details and progress of this case and act accordingly.
  • Pre-titled with Citas de Presentacion – Be advised that while a folio real number has been applied for with the national registry, it has not yet been issued. Without a folio real, ownership is not necessarily protected under Costa Rican law and the transfer of title is not yet possible.
  • Pre-titled with Visado Stamp – Be advised that this property has yet to apply for a folio real number (title).  While it has received all the necessary approvals from the appropriate municipality including the Visado (the official stamp on the Catastro), without a folio real, ownership is not necessarily protected under law and the transfer of title is not yet possible.
  • Pre-titled with Catastro (Plano) Number -- Be advised that this property has yet to receive a Visado.  A Visado is the final environmental approval granted by the municipality and is necessary in order to apply for a folio real (title).  Without a folio real, ownership is not necessarily protected under law and the transfer of title is not yet possible.
  • Pre-titled with Setena Approval – Be advised that this property has yet to receive Catastro Number (National Documentation for Approved Master Plan.  A Catastro Number and Visado approval must be granted before a folio real number can be issued.  Without a folio real, property ownership is not necessarily protected under law and the transfer of title is not yet possible.
  • Concession – Be advised that this property includes a concession.  A concession is a means in which the government grants usage rights of a piece of land, usually beachfront, for a finite period of time.  Valuing a concession correctly involves paying close attention to when the concession expires. This type of property does not hold title and is subject to the risk of non-renewal.  The renewal of such concessions is very common and only in very rare cases does the government not extend the right of use after expiration as long as the grantee keeps his/her taxes and use of property in good standing.
  • Fractional Ownership by Way of Derechos (Rights) not Included in Sale – Be advised that the property being sold is actually a right of use to a larger piece of property.  While title is protected by the state, approval from other right holders is necessary before major changes or subdivisions can be made to the property as a whole.
  • Fractional Ownership as Timeshare Sale – Be advised that this property is being sold as a timeshare.  ICT approval must be granted in order for ownership of this timeshare to be protected under Costa Rican law.  Propertyshelf does not verify ICT approval.  It is your agent’s responsibility to assure that the legality of this timeshare sale.