| Again and again I hear stories about people making mistakes
when purchasing
property in Costa Rica. I really feel it is my responsibility
to share the following with my readers.
As you probably know, by now Costa Rica has become very popular
over the last couple of years. From all indications, interest
in the country is not going to wane for some time to come.
Recently, one economist told me the local boom could last
for up to 10 years more.
Therefore, it is not surprising that investors are pouring
into the country to purchase all kinds of homes and land.
Unfortunately, in many cases they are not using their common
sense.
Scores of would-be entrepreneurs have set up shop here. Most
have eye-catching web sites proclaiming their expertise and
real estate offices. The problem is that some of these people
are little more that modern day carpetbaggers with no credibility
trying to cash in on the real estate gold rush. They are here
to get what they can take and ride happily off into the sunset.
A large number of these JCLs or Johnny Come Latelys, are
not even legal Costa Rican residents but tourists. Would you
buy real estate in your hometown from a tourist? Of course
not! Only a fool would do it. A realtor friend of ours had
the immigration department run a check to see what the status
was of foreigners selling real
estate in a certain beach area of Costa Rica. The results
were frightening. Many of the realtors in the area turned
out to be tourists living here illegally. Furthermore, the
Costa Rican government prohibits anyone from working here
who is not a resident.
So, when looking for real estate in Costa Rica you should
only deal with time-tested real estate agencies and people
who are legal residents of the country. Do your homework,
ask a lot of questions and don't leave your brain on the plane.
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