February 19, 2010 – In the second part of 10 Things About Costa Rica That Your Real Estate Agent or the Costa Rican Board of Tourism Don’t Want You to Know, we delve into the lack of rules and regulations in Costa Rica as well as cultural differences and other not so known facts about Costa Rica.
5. Because there are very few rules and regulations regarding commerce of almost any kind...there are tremendous opportunities AND a huge number of hidden obstacles. The two most apparent examples encountered by most that move here are real estate and automobiles.
In the States and in Canada we trust the government to protect us from fraud. In Costa Rica it is “CAVEAT EMPTOR” or “let the buyer beware.”
CARS: there is no prohibition on “rolling back” mileage or against renovating vehicles which have been designated as “salvage” by insurance companies in their home countries. Anything goes here.
REAL ESTATE: there is no MLS here, no system of comparables, no protection against excessive markup and NO disclosure laws of any kind. Worse yet, titles are often forged and even attorneys can be the victims of fraud.
You cannot be too careful when it comes to real estate purchases. Nothing could be more demoralizing than realizing that you have become a victim of someone’s fraudulent actions and that your “dream property” has just become a nightmare.
6. A friend of ours believes that almost all products sold in Costa Rica are “seconds” or rejects from other countries. We don’t agree but it is definitely a fact that most products here are not as well made as they are “back home”. If you are a perfectionist about your possessions and what you purchase...this could be your worst nightmare!
7. Never forget that Costa Rica runs on “Tico time”. This is something that almost every visitor realizes and “knows” but very few realize how truly pervasive the time difference really is. Nowhere does the cultural difference become more readily apparent (except, believe it or not, with the bus, ferry, and plane schedules).
If you can readily accept the simple fact that your appointments and scheduling will almost ALWAYS be “messed up” you will be ahead of probably 90% of most gringos.
8. When buying real estate in Costa Rica. MAKE NO ASSUMPTIONS WHATSOEVER... because nearly all of your assumptions are based on your past experience in other countries and they are not the same in Costa Rica! You think that you will have high speed internet anywhere you buy or build?
Guess again...DSL or broadband is only available in about 2% of Costa Rica. You think that you have a choice of phone or internet provider or service plan?....sorry again...Costa Rica only has one utility for phone and internet and it is regulated by the Government...you have no options whatsoever.
You assume that water and building permits are readily available in the upper class beach community where you have bought (you didn’t think to ask). Sorry again...poor planning has actually forced some communities to stop issuing building permits.
A good checklist with appropriate questions can mean the difference between successes or NOT...check our website for such a list.
Be sure to read next week’s article for the last part of “10 Things about Costa Rica That Your Real Estate Agent or the Costa Rican Board of Tourism Don’t Want You to Know”.
for more information about living in Costa Rica , please visit us at www.cr-home.com
Randy and Rhonda Berg have been living in Costa Rica for over 7 years and have a wealth of knowledge when it comes to buying a home in Costa Rica. You can contact them at: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
