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| Investing in Raw land https://forum.costaricaticas.com/viewtopic.php?f=1&t=8392 |
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| Author: | BondTrader [ Mon Oct 03, 2005 10:51 am ] |
| Post subject: | Investing in Raw land |
I was curious as to whether anyone on this board has ever invested in raw land in C.R. (not built on it but just bought the land and re-sold it in a few years) and if so how that experience worked out. Thx. |
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| Author: | Right Hand Man [ Tue Oct 04, 2005 12:39 am ] |
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Check with a CR attorney. Different squatters rights there and I've heard CR government not too keen on foreign land speculation. |
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| Author: | Tman [ Tue Oct 04, 2005 12:51 am ] |
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Its not an issue of foreign speculation. Foreigner have the same rights as citizens in relation to ownership rights in Costa Rica...by their constitution since 1948. Its more a matter of squatter rights, claer titles and due process of law that take forever...whether foreigner or local. As has been said elsewhere on this forum...just get with a reputable lawyer and real estate specialist. Use common sense as you would in the US to determine who that is... |
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| Author: | Mucho Gusto [ Tue Oct 04, 2005 9:28 am ] |
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Tman wrote: Foreigner have the same rights as citizens in relation to ownership rights in Costa Rica...by their constitution since 1948. Its more a matter of squatter rights, clear titles and due process of law that take forever...whether foreigner or local....
I've heard some "WAR" stories about squatter's rights, when it comes to raw land in CR. It's kind of like that old saying "possession is 9/10 of the law". It happens with homes also. Buying property/land/homes/real estate in CR is not difficult, but requires A LOT OF HOMEWORK. Many variables, many parameters, etc. Check every angle before signing the dotted line..... Good Luck. |
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| Author: | Bomber [ Tue Oct 04, 2005 10:19 am ] |
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I know some grigos that have purchased land in CR. They told me the main problem is getting a clear title and having the capability to get utilites to the parcel. |
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| Author: | Tman [ Tue Oct 04, 2005 3:26 pm ] |
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Yes, the main problem with raw land investment is cost and long wait of development and getting utilities there. I dont see this changing anytime soon...which is why I am working a lot of clients towards Panama. Cheaper, faster development, and the next wave as CR falls behind because of their lack of infrastructure, slow legal system, minimal banking services and a bankrupt government. The truth sucks sometimes... 
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| Author: | Versatile [ Tue Oct 04, 2005 3:37 pm ] |
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Check out Retirecostarica they have the info you want. |
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| Author: | Shawn4DelRey [ Fri Oct 07, 2005 5:12 pm ] |
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There is a great book that you can purchase in the gift shops at the airport in San Jose. It's titled " How to buy Costa Rica Real Estate Without Losing Your Camisa", by Scott Oliver. The author has a wealth of knowledge and experience in the biz. His book comes highly recommended and costs about $25. He is also the founder of www.WeLoveCostaRica.com |
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| Author: | Circus [ Fri Oct 07, 2005 7:41 pm ] |
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YO Land Seeker Piroca: Beware that as a gringo (if you are one) the CR sharks will circle you when inquiring about real estate.....raw land included. As most who have gone down this road before can tell you...a Costa Rican will buy for much less than you. I have a number of friends in CR that have purchased land and with the exception of a Cuban and a couple of other latinos, gringos have had to rely on having a trusted CR person talk with the land owners personally. Attorneys are fine if you are lucky to find an "honest one". I've seen the difference of an asking price of $30 per sq. yard become only $8 per sq. yd when a native Costa Rican inquires as to price. You may not have the luxury of this type of shopping but I wanted you to know anyway. There are many parcels owned by not only one but several families and the headaches in aquiring the property are numerous. Personally, I do not favor raw land speculation due to the lack of infrastructure and timetable waiting for necessary roads, utiilities, etc. getting there in an reasonable time. Also, if you do not live there to be abreast of your investment.....a number of things can happen. With all that said, if you are a young man and have a lot of funds....No worries mate. Best of Luck. |
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| Author: | TimBones [ Sat Oct 08, 2005 2:56 pm ] |
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Quote: I was curious as to whether anyone on this board has ever invested in raw land in C.R. (not built on it but just bought the land and re-sold it in a few years) and if so how that experience worked out. Thx.
I know of one our former employees that has a plot of land and of course, he had his own set of squatters which he had to evict. If you go on the U.S. Embassy's site in CR they have a whole section on the dangers. They list 2 or 3 major problems, 1st of course being Squatter Rights. The second is expoitation where the government takes over your land. This is a danger if you land adjoins a national park. Squatter Rights is the greater danger as there is a real good chance the sqautter will get some type of a pay-off if he or she can squat long enough. There was even an organized group of squatters that was extorting landowners in Golfito a few years ago. IMHO, the CR governement needs to reform the squatter rights laws as it is a real disncentive to potential investors. |
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| Author: | Mucho Gusto [ Tue Oct 11, 2005 1:38 pm ] |
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TimBones wrote: ...IMHO, the CR governement needs to reform the squatter rights laws as it is a real disincentive to potential investors.
Well put TimBones. You can preach and preach to people about the potential dangers of investing in CR, but if they truly want a piece of paradise, it'll take time, money and a lot of homework. And oftentimes, it comes down to WHO you know more than WHAT you know. YMMV...... Good luck to all investors.... Mikey B. |
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| Author: | Tman [ Tue Oct 11, 2005 4:22 pm ] |
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Squatters primarily are involved in out of the way raw land that isnt of immediate significant value. The laws here are clear on what you do to avoid the situation legally. As for land grabs...it is no worse here than recent US Supreme court rulings on local governments being able to claim your private land or house for "emminent domain". Lets not lose site of risks ANYWHERE in the world, including US of A. CR and Panama still hold great emerging value for knowledgeable and careful investors. |
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