Costa Rica Investing in land - anyone done it ?

Yes, I am right now in business with several real estate people and my partner who is a construction specialist and the return on investment is amazing.

Edited: 06/26/2010 at 03:45AM

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Jul 30 '07, 05:19 AM

I have spoken with others which have done deals and they have told me nothing but good things.

Edited: 06/26/2010 at 03:49AM

Tim S

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Nov 10 '07, 06:32 AM

90% of my business here in Costa Rica is brokering land. Everything from small lots in a planned community, to large tracts that are now being developed by companies like Hilton.

There are many things to look out for. The chief concern is usually the title. I recommend lawyers to all clients to check that the company that owns the land has no liens, etc, before moving forward.

Also, your purpose is important. If you want to develop, you MUST do your due diligence. Some land cannot be built on due to strong laws that are intended on helping Costa Rica preserve its natural beauty. Environmental studies are important as well, as Costa Rica does have many mountainous regions, and recently due to heavy rains we have experienced landslides.

Investing in land in Costa Rica is a fantastic investment vehicle when done properly. My company will be conducting seminars very soon in major US cities.

If anyone has any questions, I consider myself an expert and will be happy to consult with you.

Edited: 06/26/2010 at 04:14AM

Dean Julie

Real Estate Investor · Pleasant Grove, Utah

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Mar 18 '09, 07:00 AM

Costa Rica is an amazing place to be. I lived there in the 90's and love it! I plan on living there again, probably during my retirement years, or maybe picking up a vacation, beach-front home.

One VERY important thing to know about Costa Rica. It doesn't operate on the typical Common Law system that we in the U.S.A are accustomed to. It operates on the Napoleanic Law. One of the details of that, in a nutshell, is that if no one is physically living on the land, even if there is something being developed there, anybody can "move-in" and begin living there. Basically, become a squatter. After a certain amount of time, if the original owner hasn't kicked the squatters off, those squatters then become the legal owners of that piece of property.
Now keep in mind, I'm not an attorney, and most definately not a Costa Rica attorney. Be sure to do your own due diligence on this one!!!!

So, if you buy there, then build, but don't physically live there, you can lose your land to squatters. Thus, my plan for when I finally buy there: I will go down with cash in hand and bulldozers in tow. I will pay cash, and the day the paperwork is finished, I will start building and I will stay living there from that point on.
For my vacation home plans, I will have some very trustworthy friends or family members living there when I'm not and we'll "timeshare" back and forth. Or, I'll just find out what the squatter/owner time frame is and never timeshare for longer than that.

Again, I'm not an attorney, not a Costa Rica attorney, nor have I reviewed fully the legal code involved. I'm browsed over it enough to feel some personal getting-my-feet-wet comfortability, and all I offer is that you review in detail before you move forward!

Edited: 06/26/2010 at 07:37AM by Dean Julie

Mitchell Cohen

Residential Real Estate Agent · Ft Lauderdale, Florida

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May 29 '09, 04:01 AM

Hello
My name is Mitchell Cohen. I own a development company called
Pacific Land Sales of Costa Rica LLC. Im also a Licensed Realtor
in the State of Florida
My first project we bought sixty acres over looking the Pacific/Gulf of Nicoya [web site removed]. We have subdivided the land into 2-4 acre lots. All are already titled!
Be careful who you deal with in Costa Rica. What I can offer you in many cases is get you right to the owner of the property. That will save you alot of headache.
I sold 300 acres to a European group six months ago. I know of some very good buys right now. Ocean view under $1,00 m2.
Let me know if I can help!
[phone numbers removed]

Edited: 06/26/2010 at 08:23AM by Moderator : contact info needs to be in signature