STRONG VACATION RENTAL | Manuel Antonio

In recent years, Playa Avellanas has had a significant increase in tourism; every year, more and more people visit the town, and in recent months, roads have begun to be paved along the route and in the town, providing easier access to this lovely location Avellanas has some of the most breathtaking sunsets and a beach restaurant named Lolas with delicious meals and a terrific outlook Avellanas has around one kilometer of beaches with white sand

5,573 m2 lot | 220 m2 | 4 beds | 5 baths | $1,185,000

WHAT TRANSACTION COSTS CAN I EXPECT WHEN BUYING PROPERTY IN COSTA RICA?

When purchasing property, it is important to factor in the transaction costs that you will need to cover as the buyer. It is standard practice here in Costa Rica for the Seller to pay the real estate commission and the Buyer to pay for the closing costs.

Below is a list of the costs that the buyer will be expected to cover and which must be factored in to the overall budget for the property. Approximately closing costs for a buyer will be about 4% of the purchase price. So if you are purchasing a house for $400,000, your transfer tax and notarizatino fees will be approximately $16,000.

TRANSACTION COSTS:

1.. Transfer Taxes, stamps and legal fees for Notarization of Title Deed - this is set by law. Transfer taxes are 1.5%. Legal Fees for notarization of the transfer deed will be between 1% and 1.5% depending on the value of the transaction. Normally you would expect that the transfer taxes, stamps and the notarization of the deed will come out to just under 4 to 4.5% of the value of the purchase.

2. Legal Due Diligence - normally the lawyer will include the costs of the due diligence in the above fees. However, for smaller transactions they sometimes add on additional fees.

3. Survey of Land - approximately $500 to $1500 + 13% sales tax

4. House Inspection - approximately $650 to $1000 + 13% sales tax

5. Any other due diligence that the buyer requiresthis could include a quality or pump test of a well, a soil test. or anything else that the buyer wants to check on.

6. Escrow fees - these depend on the purchase value but can be anywhere from $400 to $1,200.

7. Set up of corporation - if you decide to own the property in the name of a corporation, your lawyer will charge you anywhere from $750 to $1,500 to set this up.

Please feel free to contact us if you would like more information on the purchasing process!