Tag: Earnest money

Escrow agent in Costa Rica - what you need to know

Escrow agent in Costa Rica – what you need to know

Estimated Reading Time: 5 Minutes If you want to purchase property, start looking for an escrow agent. An escrow agent is a neutral third party who holds onto the buyer’s funds related to the real estate transaction until both parties have satisfied their contractual obligations and charges a fee for this service. This fee is…

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What do to with the Earnest Money Deposit

Real Estate FAQ #3 | What do to with the Earnest Money Deposit?

Estimated Reading Time: 3 Minutes What you should do with the earnest money deposit is a real estate FAQ or frequently asked question for those buying or selling Costa Rica real estate. This question arises because, in Costa Rica, it’s customary for the buyer to give the earnest money to the seller. Local buyers rarely…

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How binding is a Costa Rica real estate developer promise?

Are you buying a new house or a condo from a real estate developer in Costa Rica? Don’t you know how binding the builder’s promise is? You are probably purchasing a particular property from a real estate developer or builder for the specific finishes. This can be: a beautiful swimming pool, the clubhouse, a beautiful…

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When you purchase property in Costa Rica where does your earnest money go to?

This article will tell you what to do with your earnest money deposit. Was your offer on Costa Rican property was accepted by the seller? Only the earnest money will secure your negotiation. You want to make sure the seller will indeed sell the property to you at the agreed price. And the seller will…

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