5 Things to Avoid in Real Estate Deals in Costa Rica

1. Skipping title verification: Failing to verify the title of the property can result in buying land with ownership disputes, liens, or legal issues. Always conduct a thorough title search.
2. Not using an escrow service: Don’t risk large sums of money without protection. Always use a reputable escrow service when making payments in real estate transactions.
3. Unlicensed agents: Ensure your real estate agent is licensed and has a good reputation. Unlicensed agents may not be trustworthy or capable of handling legal complexities.
4. Ignoring property taxes: Unpaid property taxes can lead to fines or a lien on the property. Always verify that the property taxes are up to date before finalizing a deal.
5. Relying on verbal agreements: In Costa Rica, verbal agreements are not legally binding. Always ensure every detail is in writing to avoid future disputes.