Estimated Reading Time: 7 Minutes When selling to a local buyer, there is a good chance that the seller will purchase with bank financing. If you want a smooth process and do not get stuck with unknown procedures, follow the recommendations in this article. If only one real estate agent is involved, especially a Godutch…
Estimated Reading Time: 7 Minutes What is Costa Rica escrow, and why should you use escrow for a real estate closing? Is it really necessary? The Costa Rican authorities don’t want you to purchase a property with a wheelbarrow full of money. For many years, cash purchases happened all the time. Worldwide, authorities want more…
Estimated Reading Time: 6 Minutes Homebuyers often have different challenges to overcome, the reason we like to give you these 3 useful homebuyer tips. Unfortunately, foreign buyers need to be aware of the fact that you need to be a resident to obtain home financing in Costa Rica. I’ve seen a couple of banks who…
A money transfer is key to any international real estate transaction. It’s no secret that traditional banks are dinosaurs in the modern economy. Although banks still have an important function in our society, tons of fintech start-ups have begun providing financial services. Although they provide these services in a more modern and efficient way. When…
Estimated Reading Time: 6 Minutes Are you dealing with home financing in Costa Rica or will you be soon? Then you will find this a very useful blog. Purchasing a home is a huge responsibility, especially if you think you can afford it but can’t find any home financing. Often, future expats start shopping for…
Estimated Reading Time: 6 Minutes If you are looking to make a property purchase you’ll love the mortgage tips. In fact, using these mortgage tips will save you time, money, and effort. When you go to view houses on sale, the seller’s agent may make the buying process seem easy and straightforward. If the price…
Is there a chance that vacation rental accommodations will have to start paying taxes soon? Many vacation rental owners are probably wondering what’s happening with that topic. Paying or not paying taxes makes a huge difference to your ROI if you have a vacation rental investment. It’s a fact that if you have income from…
Estimated Reading Time: 6 Minutes Potential buyers often ask how to finance vacation rental investment in Costa Rica. Owning a vacation home in paradise is a beautiful dream but not always financially possible. Does having a vacation rental make sense financially or not? You can expect an annual net return of 4 – 6% on…
Estimated Reading Time: 7 Minutes The closing date is coming up and there is so much to do before moving into your new home. Getting nervous already? Don’t! Use this checklist to make it easier on yourself. We do this all the time and you don’t. There are so many things you need to do…
Estimated Reading Time: 5 Minutes Cash is king, but you already knew that I’m sure. If you are looking for an incredibly good deal, you better bring cash if you want the seller of a property in Costa Rica to even think about accepting a lowball offer. Of course, if you are looking for owner financing…
Estimated Reading Time: 5 Minutes Today’s story is about this Euro savings account that we needed to open. This should be an easy task. But it is not! Banking in Costa Rica is not as simple as it is in other countries. Please do not see this blog as a complaint about Costa Rica banks…
After moving here, you will need a bank account in Costa Rica. Without it, you’ll be in trouble. How are you going to pay your bills? I certainly hope you paid attention to my previous blogs and prepared for gaining easy and ongoing access to your funds back home. At the moment, it’s difficult to…
How important are financial decisions before you move? I can’t overemphasize how much potential difficulty and inconvenience you can avoid once you move to Costa Rica. If you’ve attended to your financial details with a customized, flexible transaction plan. You will need ready access to your assets, so you have to take financial decisions ahead…
by guest blogger TicoNuevo Back home, before I tackled the financial flowchart, we were dealing with a number of banks, and credit card and financial institutions; some of whom we felt either we would not need, whose fees would be too expensive to use when moving to Costa Rica or would not be easy to…
Estimated Reading Time: 6 Minutes Setting up Banking and Utilities after our real estate closing was a treat! During the two weeks we visited the country during our Costa Rica real estate closing, we enjoyed some downtime. Also, we did some touring and exploring and learning more about our newly-adopted second home. While meeting more…
Estimated Reading Time: 4 Minutes There have been several changes in the temporary Costa Rican residency policy and law that affect the financial wellbeing of long-term visitors. This includes those visitors applying for one of the three immigrant resident categories. Just before our arrival, Immigration made changes in the temporary Costa Rican residency. We received…