Bringing inward foreign investment to any region is great for the economy and one region that knows that for sure is Costa Rica. Unlike many countries today overseas property buyers can receive mortgage finance some say its less stringent than there own countries. Mortgage companies in the UK for example now require huge deposits making buying a new property almost impossible for the masses.
You may be surprised to hear that in London the average age of a first time buyers is now 43 years old. That is an indication of how the mortgage industry can hinder a housing market.
Costa Rica on the other hand makes it is possible for foreign investors to obtain mortgage finance. As The Costa Rica News reports: ‘Most Costa Rican banks and mortgage lenders, and even some in the United States, give mortgages for the purchase of residential homes, luxury property, vacation property, rental property and land intended for residential use.’
A solicitor drafts a sale and purchase agreement once a sale has been negotiated and this finalises the terms between you and the vendor. As with any property purchase, you should appoint a trustworthy solicitor to handle the process. Your solicitor will probably also advise you to consider title insurance which will protect you against any other liens or claims made on the property that you are buying.
Closing costs of around 3.75 per cent of the purchase price are typically paid by the buyer. (homesgofast.com)
You may be surprised to hear that in London the average age of a first time buyers is now 43 years old. That is an indication of how the mortgage industry can hinder a housing market.
Costa Rica on the other hand makes it is possible for foreign investors to obtain mortgage finance. As The Costa Rica News reports: ‘Most Costa Rican banks and mortgage lenders, and even some in the United States, give mortgages for the purchase of residential homes, luxury property, vacation property, rental property and land intended for residential use.’
A solicitor drafts a sale and purchase agreement once a sale has been negotiated and this finalises the terms between you and the vendor. As with any property purchase, you should appoint a trustworthy solicitor to handle the process. Your solicitor will probably also advise you to consider title insurance which will protect you against any other liens or claims made on the property that you are buying.
Closing costs of around 3.75 per cent of the purchase price are typically paid by the buyer. (homesgofast.com)
