[keput]

Hi, I am new to this forum. I am trying to get information on how to purchase property in CR. I have found a property I am extremely interested in--A small little home listed for $43k. I have contacted the agent, it is still available, and I would like to travel down there next week to see it and most likely close the deal. The issue is financing. Believe me, I know 43k is not a lot of money. The issue is having to come up with the full amount to buy it outright. Being a dumb american I had assumed the real estate there would work as it does here--10-20% downpayment and finance the rest. Having to come out of pocket with 43k on short notice is a different story. Do I have any other options? The house is listed as a corporation. If I can't find another way to do this I'm going to have to pass it up. I really don't want to.

This post has been edited by keput: 19 March 2009 - 01:53 PM

[Jimmy]

Some owners of property will finance the remaining portion after your down payment. This is usually not a long period of time but may be enough to get yourself situated.

[costaricafinca]

While this could be 'real steal', do you know there area? Have you been to Costa Rica before? Really consider renting to see if you like it first! Many chose a house without any idea of the climate in the immediate area, and you may be in for a shock if you think that the weather is always hot and sunny here. Lots of very varied conditions.
Please, don't rush into something, as it is very easy to buy here....and extremely difficult to sell if you decide this particular part of Costa Rica is not for you.

[keput]

costaricafinca, on Mar 20 2009, 08:16 AM, said:

While this could be 'real steal', do you know there area? Have you been to Costa Rica before? Really consider renting to see if you like it first! Many chose a house without any idea of the climate in the immediate area, and you may be in for a shock if you think that the weather is always hot and sunny here. Lots of very varied conditions.
Please, don't rush into something, as it is very easy to buy here....and extremely difficult to sell if you decide this particular part of Costa Rica is not for you.

I've been to most every part of CR and this is definately where I'd like to buy. The seller wanted a cash buyer though, so we had to pass on the house.

[eleanorcr]

keput, on Mar 20 2009, 11:48 AM, said:

I've been to most every part of CR and this is definately where I'd like to buy. The seller wanted a cash buyer though, so we had to pass on the house.

Banks in Costa Rica lend money to buy houses. Did you try that?

[costaricafinca]

keput, sorry to hear that your deal never went through.
At the moment, many people are desperately trying to sell so there will be more 'bargains' but most want cash. And, of course, if you have the cash available , you can bargain with them, to your benefit.
It is still very difficult to get a loan here and expensive.