Accepting an offer
Our team is committed to making the offer acceptance process seamless, transparent, and tailored to Costa Rica’s unique real estate landscape, ensuring you achieve the best possible outcome.
Price Isn’t Everything.
While a higher offer may seem ideal, don’t be swayed solely by the price. In Costa Rica’s real estate market, other factors—such as the buyer’s financial readiness, contingencies, or closing timeline—can significantly impact the deal’s success. Many buyers, especially foreign investors or retirees, may start with an initial offer that’s not final, and terms like due diligence periods or escrow arrangements can affect the outcome. Our experienced professionals will help you evaluate each offer thoroughly, ensuring you maintain a strong position in negotiations while targeting the best overall deal for your property.
Negotiating Effectively.
We take our responsibility to negotiate fairly and ethically very seriously, aiming for a win-win agreement that benefits both you and the buyer. In Costa Rica’s competitive market, you may receive multiple offers, particularly for desirable properties like beachfront homes or eco-retreats. Our team will provide an objective, detailed analysis of each offer, considering factors like the buyer’s ability to pay cash (common among foreign buyers), their proposed timeline, and any conditions (e.g., inspections or title verification). We’ll guide you to select the offer that best aligns with your financial and personal goals.
The Purchase Agreement and Deposit.
Once you accept an offer, a legally binding purchase agreement (contrato de compraventa) is drafted, typically by a Costa Rican notary public or attorney, who also serves as the closing agent. This agreement outlines the terms of the sale, including price, contingencies (e.g., due diligence or financing), and timelines. A deposit—usually 10% of the purchase price—is placed in the notary’s escrow account to secure the agreement, pending fulfillment of conditions like title searches or inspections.
Tips to Streamline the Process:
- Keep detailed written records. Clarity is critical in Costa Rican transactions, especially with international buyers. All verbal agreements, counter-offers, and addendums should be documented in writing and signed by both parties. We’ll assist in drafting and reviewing all paperwork, ensuring compliance with Costa Rican law, and provide you with copies of everything.
- Adhere to the timeline. The purchase agreement includes deadlines for steps like due diligence (typically 10-30 days), title verification through the National Registry (Registro Nacional), and closing. Sticking to these ensures smooth negotiations and prevents breaches of contract. We’ll keep you updated at every stage, so you’re always prepared for what’s next, whether you’re in Costa Rica or abroad.