The Northern Zone of Costa Rica is a region with high real estate development potential. Its natural beauty, diverse wildlife, warm climate, and peaceful lifestyle make it an attractive option for Costa Rican families, as well as national and international investors.

Although there may be several answers, the important thing is to order them according to priority. Each owner’s situation that affects the decision to sell is different, and the sale will be developed based on this. Identify the objective and subjective characteristics of the sale at this preliminary stage.

Objective Responses:

These responses address the owner’s interest in selling. At this stage, the owner analyzes his needs for the sale and what he expects to obtain at the end of the process. Some answers may be:

  • Improve the quality of life
  • Relocate residence
  • Investment
  • Urgent payments
  • Or others.

The owner’s previous involvement with the property is taken into account. For example, if the property was inherited or has been in the family for years, this is considered. Investments and expenses incurred for repairs and improvements are also considered.

When determining the reason for selling, the goal is to make a projection of the owner’s expectations, including the initial price, the estimated time the property will be on the market, and the expected proceeds from the sale.

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

To balance the projection, consider variables such as location, availability, mortgage studies, inventory, square meter values per area, municipal taxes, and other comparable options applicable to the specific case. Please note that prices are given in ranges and are estimates, not absolutes, because no client negotiations have occurred at this early stage.

Subjective Responses:

In order to place the property in the right market, the owner must identify these characteristics. These characteristics are subjective because they establish the “emotional” or subjective panorama of potential buyers. The answers will help market, publicize, and correctly diffuse your property within the real estate market.

  • How can I position my property in the market to maximize profits?
  • Why would a buyer invest in my property?
  • What makes my property stand out from other options on the market?
  • What benefits does my property offer potential buyers?

To successfully place your property in the northern real estate market, it is essential to contact a real estate consulting company. Using digital tools and platforms will position your property as the best option, increase your reach, and enable you to study potential interested buyers in advance, thus alleviating the sales process.

Before marketing a property, it is necessary to determine its real value, capacities, and sale potential. Having this information beforehand helps determine the profile of potential buyers and place the property in the right market.

Some preliminary information includes:

  • Cadastral Plan: This graphic representation of the property’s area and boundaries allows you to verify the data and confirm important information, such as the presence of easements. This document must be in good condition and legible. If you do not have it or if it is in poor condition, you can request a copy here.
  • Liens and Annotations: Encumbrances are charges on real estate that secure the repayment of a debt. Annotations are provisional and subject to the determination of a real right in litigation. This information is important for all parties involved in the sales process and is obtained through a registry study.
  • Land uses: It is advisable to have use certificates, as they reveal the property’s potential, i.e., commercial, mixed, residential, or agricultural use. This document is requested from the municipality where the property is located.

Here is direct access to the websites of the municipalities in the northern zone.

  • Construction Plans: These provide information on relevant aspects of the property under construction, such as electrical wiring, piping, and septic tanks.
  • Appraisals: It is important to update appraisals because they can lose validity over time due to annual property depreciation.

All the information obtained from these technical instruments helps determine the property’s true value. Positioning the property for nationals is different from positioning it for foreigners, or for those interested in investment versus those looking for homes.

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

The terms of sale depend on the type of property. The main types are:
  • Lots: These are independent, unbuilt, and legally registered plots of land. Depending on their location and characteristics, they can have different uses.
    Houses are properties with construction plans that are legally registered for residential use.
  • Productive Farms: Unlike the lots, these independent lands are dedicated exclusively to producing goods. They have specific regulations to ensure the land is used rationally and sustainably.
  • Recreational quintas: These properties do not have a specific size, but they are characterized by spacious green areas and a house that is generally used for recreation and not for habitation.
  • Commercial property: Any type of property used for profit, such as office complexes, commercial premises, restaurants, and other service industries, is considered commercial property.
  • Industrial property: Land designated for industrial and business projects.

Property specifications:

In addition to knowing the type of property, it is important to understand the variables and specifications of the property you intend to sell. This important information is essential if you want to sell your property in Heredia, especially if it has some of these variables.

Selling in a condominium:

  • Determine whether the property is commercial or residential.
  • Make sure that all condominium fees and other fees issued by the condominium administration are up to date. Provide information on the amount of the condominium’s fees, administration, and delinquency.
  • The condominium regulations and construction regulations must be provided (in case of a condominium of lots), as well as the minutes of the Assembly, if possible, to facilitate the sales process.
  • Know which areas are common and how they are used. Also, have information about water, treatment plants, and electricity.

Selling in Urbanization or residential:

  • Know the exact location: district and canton to which it belongs.
  • Provide information about public services, security and if it is an organized community.
  • Establish beforehand which are the entrances and controlled accesses and if they have needle or not.

Selling in Rural Areas:

  • Familiarize yourself with the municipality’s regulatory plan to understand the permitted building percentage, segregation regulations, and any easements.
  • Check for telephone and internet facilities.
  • Find out if the water is municipal or from asadas. Also, find out about registered or unregistered springs.

Selling in commercial and industrial zones in the Northern Zone:

  • Compliance with Law 7600 is required.
  • Obtain certificates for land use, as well as the definition of the area that can be used for commercial or industrial purposes.
  • Understand the access roads, commercial attractiveness, and parking availability.
  • Learn about the free zone regime and whether it applies to the property’s location for tax-related issues.
  • If the property is industrial, the access to electricity and voltage must be clear according to the buyer’s needs.

Having this information before listing your property in the Northern Zone real estate market will give you an advantage when selling because interested buyers will have a better understanding of the property’s potential and capacity.

If you have questions about selling your property in the Northern Zone or any related topic, contact our NATIVU advisors.

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