Comments on: A Checklist to Stay Out of Real Estate Trouble http://crexpertise.info/checklist-stay-out-real-estate-trouble/ Everything you need to know about doing business in Costa Rica Tue, 08 May 2012 23:46:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Prudential Utah http://crexpertise.info/checklist-stay-out-real-estate-trouble/comment-page-1/#comment-951 Prudential Utah Tue, 31 May 2011 07:51:29 +0000 #comment-951 If the investors will continue on their journey, I am sure, costa Rica will improve. Costa Rica now is a little bit in the same status of Utah. Utah has now many investors because of the real estates that are all in demand because they are all affordable. If the investors will continue on their journey, I am sure, costa Rica will improve. Costa Rica now is a little bit in the same status of Utah. Utah has now many investors because of the real estates that are all in demand because they are all affordable.

]]> By: Randall Hood http://crexpertise.info/checklist-stay-out-real-estate-trouble/comment-page-1/#comment-941 Randall Hood Sun, 13 Mar 2011 15:00:41 +0000 #comment-941 The escrow process is not the same as the USA. If there is any problem with the legality of the property Stewart Title does not give your money back. You have to go into arbitration. I was promised the lot I was buying had water and the seller could not produce the legal documents stating that it had water. Stewart now requires a letter from the seller to give me my funds back. Once you send them money your are at risk of an extended law suit. The only issue they protect you from in a problem with the title, but in reality they can create many more problems since they have your money. Make sure you have all the legal documents first before sending any money. Do not let a Real Estate agent pressure you into sending any money. The escrow process is not the same as the USA. If there is any problem with the legality of the property Stewart Title does not give your money back. You have to go into arbitration. I was promised the lot I was buying had water and the seller could not produce the legal documents stating that it had water. Stewart now requires a letter from the seller to give me my funds back. Once you send them money your are at risk of an extended law suit. The only issue they protect you from in a problem with the title, but in reality they can create many more problems since they have your money. Make sure you have all the legal documents first before sending any money. Do not let a Real Estate agent pressure you into sending any money.

]]> By: Lic. Arcelio Hernandez Mussio http://crexpertise.info/checklist-stay-out-real-estate-trouble/comment-page-1/#comment-34 Lic. Arcelio Hernandez Mussio Sun, 16 Aug 2009 20:59:55 +0000 #comment-34 The insurance monopoly no longer exists in Costa Rica. But title companies here, such as Stewart Title, do not technically sell insurance policies, but rather they sell title guarantees. The difference is that the guarantee protects against past problems with the chain of title transfers. Again, a title policiy adds value to a property, but it is not necessary. The best way to protect your property title against fraud, is to check the title at the national registry regularly. The insurance monopoly no longer exists in Costa Rica. But title companies here, such as Stewart Title, do not technically sell insurance policies, but rather they sell title guarantees. The difference is that the guarantee protects against past problems with the chain of title transfers. Again, a title policiy adds value to a property, but it is not necessary. The best way to protect your property title against fraud, is to check the title at the national registry regularly.

]]> By: Richard Morris http://crexpertise.info/checklist-stay-out-real-estate-trouble/comment-page-1/#comment-33 Richard Morris Sat, 24 Dec 2005 00:01:48 +0000 #comment-33 Mr Baker<br /> <br /> First, I want Thank-you for this Great Resource Site! and your expertise! I am interested in a piece of property in Dos Brazos, in the OSA. I understand that the town is in the Reserva Forestal Golfo Dulce. I also understand that there is no title to this property and that I'm buying time not title. Can you perhaps direct me to further resorces so that I can understand what I'm looking at and avoid a pit fall, or should I just stay clear???<br /> <br /> Season Greetings!<br /> Richard Mr Baker

First, I want Thank-you for this Great Resource Site! and your expertise! I am interested in a piece of property in Dos Brazos, in the OSA. I understand that the town is in the Reserva Forestal Golfo Dulce. I also understand that there is no title to this property and that I’m buying time not title. Can you perhaps direct me to further resorces so that I can understand what I’m looking at and avoid a pit fall, or should I just stay clear???

Season Greetings!
Richard

]]> By: Arcelio Hernandez http://crexpertise.info/checklist-stay-out-real-estate-trouble/comment-page-1/#comment-32 Arcelio Hernandez Sat, 08 Oct 2005 18:03:50 +0000 #comment-32 Title transfer tax is 1.5% of the property value, that is, the price of the purchase, or the fiscal value, whichever is HIGHER. There are also stamps to be paid for recording a title transfer or mortgage. I advise my clients to obtain a Title Guarantee when they can afford it, as it gives them extra protection, and adds value. It is not illegal in Costa Rica. Title transfer tax is 1.5% of the property value, that is, the price of the purchase, or the fiscal value, whichever is HIGHER. There are also stamps to be paid for recording a title transfer or mortgage. I advise my clients to obtain a Title Guarantee when they can afford it, as it gives them extra protection, and adds value. It is not illegal in Costa Rica.

]]> By: Garland Baker http://crexpertise.info/checklist-stay-out-real-estate-trouble/comment-page-1/#comment-31 Garland Baker Wed, 05 Oct 2005 03:09:00 +0000 #comment-31 Dear Sir,<br /> <br /> I do not believe in title insurance in Costa Rica. Theoretically, all the title insurance companies are illegal because Costa Rica has a governmentally owned insurance monopoly. More importantly, the contracts of title insurance are so restrictive in Costa Rica, I know no one ever receiving money on a claim. Title insurance is something popular in other countries and is sold here to people who just have to have it because of their beliefs coming from somewhere else. There are better and cheaper ways to protect your property in Costa Rica. Read post <a href="http://crexpertise.info/index.php?p=43&more=1&c=1&tb=1&pb=1#more43" rel="nofollow">http://crexpertise.info/index.php?p=43&more=1&c=1&tb=1&pb=1#more43</a><br /> <br /> Garland M Baker.<br /> Dear Sir,

I do not believe in title insurance in Costa Rica. Theoretically, all the title insurance companies are illegal because Costa Rica has a governmentally owned insurance monopoly. More importantly, the contracts of title insurance are so restrictive in Costa Rica, I know no one ever receiving money on a claim. Title insurance is something popular in other countries and is sold here to people who just have to have it because of their beliefs coming from somewhere else. There are better and cheaper ways to protect your property in Costa Rica. Read post http://crexpertise.info/index.php?p=43&more=1&c=1&tb=1&pb=1#more43

Garland M Baker.

]]> By: Greg M http://crexpertise.info/checklist-stay-out-real-estate-trouble/comment-page-1/#comment-30 Greg M Tue, 04 Oct 2005 21:46:14 +0000 #comment-30 What is your opinion of Stewart Title. I am concidering using them when I purchase a condominium,<br /> Thank you<br /> Greg What is your opinion of Stewart Title. I am concidering using them when I purchase a condominium,
Thank you
Greg

]]> By: Garland Baker http://crexpertise.info/checklist-stay-out-real-estate-trouble/comment-page-1/#comment-29 Garland Baker Tue, 06 Sep 2005 03:19:05 +0000 #comment-29 Yes, it is located at:<br /> <br /> <a href="http://www.abogados.or.cr" rel="nofollow">http://www.abogados.or.cr</a><br /> <br /> If you are looking for an attorney Lic. Allan Garro is great, reliable and honest. He can be reached at crlaw@licgarro.com<br /> <br /> GMB Yes, it is located at:

http://www.abogados.or.cr

If you are looking for an attorney Lic. Allan Garro is great, reliable and honest. He can be reached at crlaw@licgarro.com

GMB

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