Can you buy a foreclosed property in Costa Rica?

Buying a foreclosed property in Costa Ricais not that different from buying a regular property. However, this requires some prior processes to ensure that at the end of the transaction, you will not end up paying someone else’s debt.

Due diligence must be carried out, to ensure that the owner is up to date with the payment of the fees, so that the debt with the bank can be directly canceled, discounting the total amount of the mortgage, from the price that is being paid for the purchase.

Remember that the mortgage is an obligation of the owner and must be settled with the transfer of the property.

By Categories: FAQ