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tioli

Closing Escrow in the US?

5 posts in this topic

We are Americans currently residing in the US (California) and are buying Costa Rican property from another American, also residing in the US (Florida). Is there a US escrow company that handles foreign property? We understand that we need a Costa Rican notario (attorney) present at payment/title transfer, and could fly an attorney in for that. Any thoughts or suggestions would be most welcome! Thanks!

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I want to answer this, but I fear that I could be banned from the forum. Instead, I will wish you well and welcome you to Costa Rica. I hope you will be happy here.

 

T

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In 2010 we researched this intensely, my wife was in the legal profession and the thought of not going through escrow was appalling. Being from Canada complicated this. After speaking with our USA trained attorney and against my wife's better wishes we did a direct transfer. By that time we knew the seller and again our attorney made us feel comfortable. This will not work for everyone but we are here and happy. Only you can evaluate the level of trust.

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I want to answer this, but I fear that I could be banned from the forum. Instead, I will wish you well and welcome you to Costa Rica. I hope you will be happy here.

 

So Tom, why not use the PM function where the two of you would be able to exchange various sensitive ideas in relatve privacy?

 

That would assuage your stated concern, wouldn't it?

 

Just FWIW . . . .

 

Regards,

 

PM

==

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We did something very similar, very successful. We wired from Chase in the US to our escrow company in CR. We did this twice - deposit, then balance. The attorney, who is excellent and has become a friend, closed for both parties - buyers and sellers. IM me if you need specifics, but 5 years later we could not be happier with the experience. We now have a bank account and do not use the escrow company much anymore.

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