If you have a complaint against a real estate company or agent you should contact the Costa Rican real estate boards listed below.
To file complaints against unscrupulous lawyers, Costa Rica’s version of a Bar Association see the Colegio de Abogados, website at www.abogados.or.cr. Next click on Quejas y Suspensiones (complaints and suspensions.
1. (CRGAR) Costa Rica Global Association of Realtors. The mission
of this organization is to promote professionalism, education and
ethics of the real estate industry in Costa Rica.
Ph 506- 6531320
fax 506- 6531321
www.costaricare.net info@costaricare.net
2 (CCCBR) Costa Rica Real Estate Brokers Board
The member Broker will operate according to the Code of Ethics
of the Costa Rican Real Estate Association and must take part in any
Arbitration.
www.camaracbr.or.cr/realestate_board.htm
Camara Costarricense de Corredores de Bienes Raíces
Tel: (506) 283-0191 | Fax: (506) 283-0347
Apdo. 1006-2100-Guadalupe | E-mail: admin@camaracbr.or.cr
The percentage of Canadian “boomers” is higher than the U.S., not that the actual numbers are. Canadian baby boomers are a huge group: proportionately 50 percent larger than the U.S. boomers. (Canada has an approximate population of 33.3 million and the U.S. has about 301 million of which there were 76 million boomers). For every five U.S. expatriates in Costa Rica, there is probably one Canadian. My prediction is that Canada will be a large investor in Costa Rica in the near future.
Furthermore, the Canadian dollar is now on a par with the U.S. dollar. Because of this, you can expect more and more of the equity in the booming Canadian real estate market will shift to popular retirement places like Costa Rica. The U.S. has been hostile to some Canadian investors.
Why wouldn’t a lot of equity from housing in say, Vancouver where the least expensive house costs $600,000, shift to Costa Rica ?
I just read an article about a new phenomenon in Costa Rica called “The Instant Real Estate Agent.”
Since real estate has become a very lucrative business in Costa Rica, everyone is trying to cash in by selling property. Most of the people involved don’t even have a real estate license, never worked in the business before and have virtually become agents over night. Some of these individuals don’t live in Costa Rica and no nothing about the country. As I mentioned in a previous article even some tourists are selling property. Would you by property from a tourist?
I have heard people complain that they have been approached by cab drivers, hotel employees and others offering real estate. Here are two anecdotes from the Yahoo group Costa Rica Living
“Not long ago, I met an American at a San José art gallery, who claimed to be a Real Estate Agent. She gave me her card and offered to assist me in buying a home. I told her I had lived in Costa Rica many years and owned my home..thanks anyway! She didn’t even live here yet, seemed to know nothing about life in Costa Rica, was pretending to be an expert on how to buy a home in Costa Rica, and clearly was looking for dumb, confused Gringos with money!”
“Well a little different story but I met a girl playing Tennis and when we talked about Costa Rica. She told me she can help me buy a home in Costa Rica. She is a Remax agents and they have offices in Costa Rica – so even though she doesn’t know anything about Costa Rica, and has never been here, she can still sell me a home! “
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 ten 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 JCL’s or “Johnny Come Latelys” are not even legal Costa Rica residents but tourists. Would you buy real estate in your home town 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.”
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 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 ten 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 JCL’s or Johnny Come Latelies are not even legal Costa Rica residents but tourists. Would you buy real estate in your home town 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.”
