For our Clients

Real Estate Closing Procedures (bullet points version):

See also our FAQ page for more answers to common questions.

1. Closing Costs:

$300 Earnest Money Contract, to prepare the Agreement prior to Closing with the Relevant Transaction Terms: parties´ description, property description, purchase price, means of payment and closing date. If there is construction involved, a Property Purchase and House Construction Agreement can be customized instead, cost $400 dollars.
$600 or 1% of Purchase Price Lawyer Closing Fee: due at Closing Date to close on the property and title under Buyer’s name.
Title Insurance: title insurance is an optional with the following costs instead:
$900 or 1,5% of Purchase Price includes Lawyer Fees and Title Insurance Fees.
$100 Property Transfer Taxes or 2,85% of Declared Value.
these costs are split with Seller unless agreed upon other wise.
the Earnest Money Contract can be signed simultaneously in Seller’s and Buyer’s locations, with hard signed & notarized copies UPS ed to our law offices in Jacó Beach for verification and exchange.
if Buyer is not attending Closing Date, a Special Power of Attorney can be issued, emailed, signed, notarized and UPSed to us to protocolize and Close on behalf of Buyer.
recording title term: approximately four to six weeks, depending on Registrar Assigned to Document.

Our property has a $500 homeowners associatation fee. This covers your 24 hour security, yard maintenence, pool / common areas and weekly trash pickup. This fee is due at the time of closing and on the anniversary of your closing each year.

We also require a one time landscape installation fee of $1,500, due at time of closing.

This landscaping includes turf installation, flowering plants on the perimeter and native ornamentals in an island.

Installation landscaping, waiting for a home

2. Incorporation:

An LLC is optional and ideal to Close on the Property and hold title under Beneficiary Owner’s instructions and together with other relatives and/or partners. Corporate Survivorship arrangements can be customized after titling the Property and legalizing the LLC´s books.

Costs:

$500 Lawyer Incorporation Fee.
$100 one time Incorporation Fees / Books´ legalization.
$75/per year, optional, to use our Law Offices as the Registered Office.

Information Needed is:

Beneficiary Owners´ legible ID (passport or Drivers License), Percentage of Ownership, full name, last name, home address, fax, phones and email.
Controlling Directors´ same information as Beneficiary Owners´, and Signing Power: independent or joint only.
Three alternative names for the LLC: can be in any language and must have three different syllables from existing 400k companies.
Recording Articles of Incorporation term: approximately four to six weeks, depending on Registrar Assigned to Document.

Contact us with any questions.

Warm Regards,
The Costa Rica Limited staff.
Robert Barras, Jeff McMullin