The real estate market in Cartago has been in constant growth for several years, therefore, if you want to sell a property in this area, it is important to know the profiles of buyers, the categories with the greatest demand and the projections in real estate. Before starting the sales process, some preliminary steps must be taken to help guide and develop each stage in the best way, avoiding conflicts and guaranteeing the benefit of all parties involved.

Why sell your property in Cartago?

Objective Factors

It’s best to first consider why you want to sell your property. At this stage the owner analyzes what their post-sale needs are and what he or she expects to obtain at the end of the process. Some possible reasons may be:

Improvement in quality of life
Relocation of residence
Further investment
Payment of urgent debt
Other miscellaneous reasons

For the owner, the history of the property must also be taken into account. Examples include consideration of whether the property was inherited or was a family home. Investments into improving the property and expenses incurred for repairs and must also be noted.

When establishing the reason for sale, it is key to establish what the owner expects from the sale, including the initial asking price and potential for negotiation, the estimated timeframe for placing the property on the market, and what, if anything else, the owner expects to obtain from the sale.

It is crucial to contact a real estate consultant to help you not only analyze a fair price according to the market, but also sketch out profiles of potential buyers who may be interested in your property.

Many variables must be included in this equation, such as location, availability, mortgage studies, inventories, m² values for the area, municipal taxes, and many other factors specific to

individual areas of a particular market. Prices are given in ranges and are estimates, because at this early stage no prospective buyers have been approached and market sentiment cannot be reliably established.

Subjective Factors

The owner must also keep a variety of so-called ‘subjective’ factors in mind in order to be able to place the property at the right point in the market. They are ‘subjective’ because they seek to establish an “emotional panorama” of potential interested buyers and create a well-defined and suitable strategy for marketing your property. Questions that will help in the development of an effective marketing strategy include:

Where can I place my property in the market to increase chances of success?
Why would a buyer invest in my property?
What makes my property stand out from other options in the market?
What benefits does my property have for a potential buyer?

It is essential to contact a real estate agent to for professional assistance in this complex and critical process. The use of digital tools and platforms will help in positioning your property as the best option, having a wider reach, and creating a filtering process in which interested potential buyers are studied beforehand for maximum success.

Final Steps for Presale

Before positioning the property in the market, it is necessary to have the information that determines its real value, capacities and sale potential. You need this information before selling, as this will help to find the profile of possible interested buyers and thus, to place the property in the right market.

Some previous information is:

Cadastre Plan: It graphically represents the area and boundaries of the property, allowing to verify the real data and confirming important information such as the presence of easements. This document must be in good condition and legible. In case you do not have it or if it is in bad condition, you can consult for the document here. You must choose in type of product if you need the cadastre – scale plans (real size), or if you need the cadastre – certifications (letter size). To enter the above link you must have previously registered in RNP Digital.
Liens and annotations: Encumbrances are charges on the real estate that respond to the payment of a debt. Annotations are provisional and are subject to the determination of a real right that is in litigation. This is important information for all parties involved in the sale process and is obtained through a registry study.
Land use: The best advice is to have the certificates of use, since they allow to know the potential of the property, i.e.: commercial, mixed, residential, agricultural use… This document is requested at the Municipality of the canton where the property is located. Below we leave you the direct access to the website of each Municipality of the province of Cartago:– Municipalidad de Cartago – Municipalidad de Paraíso – Municipalidad de Jimenez – Municipalidad de La Unión – Municipalidad de Turrialba – Municipalidad del Guarco – Municipalidad de Cervantes – Consejo Municipal de Cervantes
Construction drawings: They provide information on relevant issues of the constructed building, such as electrical wiring, piping, septic tanks, etc.
Appraisals: It is important to have updated appraisals as they may become invalid over time, since the depreciation of a property is done in annual periods.

All the information obtained from these technical instruments helps to determine the real value of the property. It is not the same to position the property for nationals as for foreigners; for those interested in investment or for those looking for homes, for example.

Clear communication with the advisor is essential to avoid future conflicts in the buying and selling process.

Types of properties in Cartago

The selling terms will depend on the type of property you have. The main types are:

Farms: These are independent, unbuilt and legally registered plots of land. Depending on their location and characteristics, they can have different uses.
Houses: these are properties with construction plans, legally registered and for residential use.
Productive farms: These are also independent lands, but unlike the first ones, these are dedicated exclusively to the production of goods. They have specific regulations as they must ensure the rational use of the land and environmental sustainability.
Recreational Quintas: These properties do not have a specific measurement, but their main characteristic is that they have spacious green areas and a house that is generally used recreationally and not regularly.
Commercial property: Any type of property that is used for profit, whether it is an office complex, commercial premises, restaurants or any other types of services.
Industrial property: They have land uses destined for industries and business projects.

Specifications according to the property:

Besides being clear about the type, you must also know the variables and specifications of the property you intend to sell. This is the important information you should know if your property has any of these variables:

Selling in condominium:

Know the use of the subsidiary being sold, whether it is commercial or residential.
It must be up to date with the payment of condominium fees and any other type of fee issued by the condominium administration. Must also provide information on the amount of fees, administration and delinquency of the condominium.
You must have the condominium regulations and the construction regulations (in case of farm condominiums ) and if possible, the minutes of the Assembly, to facilitate the sale process.
Know which are the common areas and how they are used. Also have information about water, treatment plants and electricity.

Selling real estate investment projects:

Verify data from investment experts.
Check if the developer of the project has a license and confirm if it has ever been suspended or revoked.
Find out if the company they are working for is registered with the country’s Financial Authority.
Verify that the investment securities are registered with state regulators.
Analyze any context that makes you doubt the legitimacy of the investment.

Selling in Urbanizations or residential areas:

Know the exact location: district and canton.
Provide information about public services, security and if it is an organized community.
Establish previously which are the entrances and controlled accesses.

Sell in rural areas:

Have knowledge of the regulatory plan of the Municipality to understand what is the percentage allowed to build, whether or not segregation is allowed and if there is presence of easements.
Telephone and internet facilities.
Know if the water is from the municipalidad or if it comes from ‘asadas’. Also have information on registered or unregistered springs.

Sell in commercial and industrial zones:

Must be in compliance with Law 7600.
Have the certificates of land use and the definition of the area that can be used.
Know the access roads and commercial attractiveness; as well as the availability of parking.
Information about the free zone regime and if it applies to the zone in which the property is located, for issues related to taxes.
If it is an industrial property, the access to electricity and voltage must be clear according to the buyer’s needs.

Knowing this information prior to positioning the property in the Cartago real estate market will give you an advantage when selling, as interested buyers will have a broader understanding of the potential and capacity of the purchase.

If you have specific questions about where to obtain information or about any issue related to the sale of your property in Cartago, do not hesitate to contact our NATIVU advisors.

Contact our Nativu Advisors