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REAL ESTATE
What is Real Estate
Real Estate means property consist of land and building It is a modern term for land and anything that is permanently affixed to it.
Major Types of Real Estate
Commercial Real Estate Residential real estate
Residential Real Estate
It involves the sale and rental of land and house to individual and families for daily living. There are also condominiums, coops, townhouses, duplexes, triple-deckers, high-value homes, and vacation homes.
Commercial Real Estate
Commercial real estate involves the sale and lease of property for business purposes.
Options for purchasing real estate in Costa Rica
Bank Finance
Seller Finance
Seller Financing
Seller financing is a loan provided by the owner or seller of a property to the purchaser.Initially, the purchaser will make some down payment to the seller, and then make instalment of payment on a monthly basis over a specific period of time, at an agreed interest until the loan is fully repaid.
Bank Financing
Banking Finance – Procedures
Minimum 20% of down payment is required for getting loan. Bank Interest rates are generally between 7 percent and 9 percent, but can be much higher as well. As the interest rate is fluctuating, the lower interest rate is applicable only for first 3 years which raise to higher range in the 4th year. Origination fees can as high as 3 points and if you want to close the loan, an additional 1.5% of loan amount will have to be paid. The tenure of loan term will be 10 to 20 years. In Costa Rica no Banks will sanction more than 80% of a home’s value.
Advantages of investing in Costa Rica
Costa Rica offers buyers great living for less than American and Canadian economy will allow. Buyers can get more house for their money. Long the hidden secret of Americans who have moved to Costa Rica over the last 30 years, Costa Rica is a viable place to call home when retirement beckons, or as a second home away from the hustle and bustle of crowded US beaches or mountain communities. Foreigners get the same property ownership rights as the locals.
Beautiful locations and excellent architectural works are part of this selection of Costa Rica's top luxury homes.
Ackerman Realty International Your Dream Life at affordable price in Costa Rica
ACKERMAN REALTY INTERNATIONAL
US (678) 799-9209CR 011-506-8-910-2904
margo@ackermanrealtyinternational.com
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