What to do after buying a property in Costa Rica

After buying a property, a series of steps should be followed to finish the process correctly. These are a series of procedures that must be completed in a short period after the property is legally acquired. In this article, we tell you everything you need to know after buying a property in Costa Rica.

“As Nativu real estate advisors we always seek to accompany our clients throughout the entire process, even after the purchase has been completed. That is why it is important to know about the steps to be taken after the purchase.”

Patricia Barrantes, Nativu Grecia Advisor

Steps to follow after buying a property

Buying a property is a process that involves technical and legal matters before and after the purchase. Some recommendations of the procedures to be carried out after the purchase of a property are:

Checking with the municipality: After the purchase, you must check with the corresponding local government to verify the change of ownership. This procedure should be done approximately 15 days after the purchase. You can leave this procedure in your lawyer’s hands. In case you have any problem, or if the transfer has not been made, it is necessary to go to the municipality with the deed in hand to consult.

Energy Services: Once the property has been bought, it is necessary to register the change of ownership with the electricity services as well. According to the property and its location, the process must be done with the related institution:ICE or CNFL. The property deed must have been issued at least 1 or 3 months after. Therefore, it is advisable to read in detail the requirements of the process.
Water services: The institution varies according to the canton since it can work directly through AyA or in rural areas with the corresponding municipality or Communal Systems (ASADAS). Therefore, knowing how the property obtains the water service is important. In the case of AyA, you can access an online form to request the change.
Municipal taxes: It is also essential to check that the municipal tax payments are up to date and paid quarterly. You can consult the exact amounts with the municipality and make the payments online. On the other hand, in the long term, it is necessary to consider the “declaración de bienes inmuebles” (real estate tax declaration) every five years. The details of these payments vary according to the municipality, so it is advisable to inquire.

Local Taxes in Costa Rica

Criteria to consider when buying a property in Costa Rica

Besides the legal and technical aspects, there are other factors to consider when buying a property in this country. It is especially relevant if you are a foreigner or do not have experience buying properties.

The maintenance of the property must be kept in mind concerning the climate and topography of the area. For instance, maintenance of specific parts of the house is mandatory to avoid flooding or landslides in the case of properties with pending slopes.

Or in the case of cleaning the drains and canoes of the property, maintenance of eaves and roofs to avoid water filtrations, among others.

Another relevant aspect to know is the corresponding connection and having the necessary municipal permissions if you want to make any modifications to the property after buying it.

Buying a property is a process that has stages before, during, and after the signature of the property transfer. Therefore, if you are interested in more details about the process to be carried out after or before the purchase of a property, do not hesitate to contact our specialized advisors or read more about our related articles and guides.

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