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When selling a property in Costa Rica, what would you say is the most important aspect to focus on to sell it quickly and, hopefully, attract multiple offers? The pictures? The presentation? While those things are certainly important, don’t get me wrong—setting the correct price is the real secret to a successful sale. That’s why I always recommend taking your time to compare prices of recently sold properties and consulting with a trusted real estate agent who knows the local market.

In this guide, I’ll walk you through the selling process in Costa Rica, along with the fees and taxes you’ll need to consider. Let’s make selling your property a straightforward and rewarding experience!

Preparing Your Property for Sale

Before listing your property, ensure the following tasks are completed:

• Pay Property Taxes: Settle any outstanding property taxes to avoid last-minute issues.
• Make Necessary Repairs: Fix any significant issues that could deter potential buyers.
• Hire a Qualified Real Estate Agent: Choose an agent who is SUGEF-compliant and has expertise in your area. A local agent can help you set a competitive price and navigate the selling process effectively.

The ZonAzul Realty CR Listing Process

At ZonAzul Realty CR, our listing process is designed to showcase your property and reach the right buyers:

1. Initial Meeting: We visit your property to understand its features, discuss your goals, and set clear expectations about the market.
2. Property Verification: We confirm all property details to present them accurately to potential buyers. A listing contract is then prepared, outlining the price and real estate commission.
3. Photo and Video Session: We schedule a professional photoshoot, ideally during the green season with blue skies, to capture your property’s best angles.
4. Marketing Your Property: We create a comprehensive listing and post it on various regional and international platforms, including our website and social media. Additionally, we collaborate with other agencies to maximize exposure.

Costs and Fees When Selling a Property

As a seller in Costa Rica, you will need to account for the following costs:

1. Capital Gains Tax

• Primary Residence Exemption: If the property has been your primary residence for at least 183 days, you’re exempt from this tax. This exemption can be used once every three years.
• For Properties Purchased Before July 1, 2019:
  • Pay 2.25% of the selling price, or
  • Pay 15% of the gain (selling price minus purchase price).
• For Properties Purchased After July 1, 2019:
  • Pay 15% of the gain.

2. Transfer Taxes and Legal Fees

• Transfer Tax: 1.5% of the transaction value.
• Attorney Fees: Typically range between 1% and 2% of the property’s sale value.

3. Real Estate Commission

• The standard commission is 6.78% (6% + 13% VAT) of the property’s sale price. This fee ensures your agent is fully committed to marketing and selling your property, following the comprehensive process outlined above.

What Happens Once There’s an Interested Buyer?

Once both parties agree on the selling price, the buyer’s real estate agent will issue a Letter of Intent (LOI) outlining the basic terms of the offer including the proposed price, due diligence period, and expected timeline.

If you accept the terms, the LOI is sent to your attorney, who will begin drafting the Option to Purchase Agreement, which formalizes the deal and sets the conditions for the transaction.

During the due diligence period, the buyer’s attorney will verify that the property documentation is clear and complete. This includes reviewing ownership, zoning, utilities, taxes, and any potential legal encumbrances.

If everything is in order and the due diligence receives a green light, the buyer and seller agree on a closing date and signing location for the final deed of sale. Once the deed is signed, the escrow company will release the funds to your account.

To facilitate the financial transaction, we strongly recommend using a licensed escrow service. This ensures that all required documentation is verified and that funds are transferred safely and efficiently avoiding any banking complications for both parties.

Why Work with ZonAzul Realty CR?

Selling a property in Costa Rica doesn’t have to be complicated when you have experienced professionals by your side. At ZonAzul Realty CR, we guide you through every step of the selling process and connect you with trusted legal and financial experts. With years of experience in the Santa Teresa area, we are committed to making your property sale seamless and successful.

Contact Us

Have questions about selling your property in Costa Rica? Contact us today and let ZonAzul Realty CR guide you through the process. Together, we’ll achieve your selling goals with confidence and ease.

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