Escazú, Santa Ana and Rohrmoser are places of high prestige in the area of San José, they have become places of high demand in search of all types of properties. If you are interested in sell properties in Escazu and the west zone of San Jose, you should know the buyers profiles, categories with the highest demand and the projections in real estate. Before starting the sale process, some previous steps must be taken into account to guide and develop each stage in the best way. Avoiding conflicts and ensuring the benefit of all parties involved.

Why sell?

Although there may be several answers, the important thing is to order them according to their priority, since for each owner there may be different situations that affect the decision to sell and it is based on this reason that the sale will take place. The objective and subjective characteristics of the sale should be identified at this preliminary stage.

Objective Responses

This responds to the owner’s interest in selling. At this stage the owner analyzes what are the needs and what is expected to be obtained at the end of the process. Some answers may be:

Improve the quality of life
Relocation of residence
Investment
Urgent payments
Others

For the owner, the previous situations in which the property has been involved are taken into account, for example, if it is an inheritance or a family home. Investments and expenses incurred for repairs and improvements are also important.

When establishing the reason for sale, what is sought is to make a projection of what the owner expects, including the initial price, the estimated time in which the property will be placed on the market and what is expected to be obtained from the sale.

It is important to contact a real estate consultant to help you analyze what is a fair price according to the market and what is the profile of potential buyers who may be interested in your property.

In order to achieve a balance in the projection, some variables must be taken into account such as location, availability, mortgage studies, inventories, m2 values per area, municipal taxes and any other comparable option that applies in the specific case. It should be clear that prices are given in ranges and are estimates (not absolute), because at this early stage no client has been negotiated.

Subjective Responses

The owner must identify these characteristics in order to be able to place the property in the right market. They are subjective because they seek to establish the “emotional” panorama of the possible interested buyers, so that the answers to each one of them, helps the marketing, publicity and correct diffusion of your property within the real estate market.

Where can I place my property in the market to obtain more benefits?
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 help you place your property within the market. The use of digital tools and platforms will help you to position your property as the best option, having greater reach and enabling a filtering process in which interested potential buyers are studied beforehand, thus easing the sales process.

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.
– The Municipality of Escazú allows this procedure to be done digitally through this link.
– In the Municipality of San José you must complete this procedure in person, download the application form in this link, print it and fill it out. Subsequently, you must present it in person at the Service Platform along with the copy of the approved land registry plan. The schedule is from Monday to Friday from 7:45 a.m. to 4:00 p.m.
– The Municipality of Santa Ana also allows this procedure digitally, in this link you can follow the instructions and on the right side is the link to start the application process.
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

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 positioning the property in the market will give you an advantage at the moment of selling, since interested buyers will have a broader knowledge of the potential and capacity of the purchase.

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

Contact our Nativu advisors