How much are the closing cost?

If buyer decide to purchase through a corporation instead under his own personal name ,the safest and cleanest way to purchase a property in Costa Rica is to transfer the property to a Brand New corporation.(Company or Corporation). At closing, the attorneys will transfer the property out of the old existing corporation and into a new corporation that was set up strictly for this investment.  It will have no liabilities of any kind, as it was recently formed specifically for this transaction, and the seller can then either use the old corporation for another investment or choose to dissolve the corporation after the sale. It will be their choice.

Certain standard closing costs are required in Costa Rica to transfer the title of a property from the seller to the buyer, in most cases paid by the buyer. Closing Costs include: (1) Real Estate Transfer Tax, which is 1.5% of the registered value of the property on the deed; (2) Documentary Stamps, which total a maximum of 1.25% from the registered value; (3) The Notary Fee is around 1.25 % of the property sales price. Using the example of a $100,000 property, closing costs would be approximately $4,000 (Other fees might be added depending of the kind and price of the property)

Leave a Reply

Your email address will not be published. Required fields are marked *