The Buying Process
Purchasing
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Closing
Costa Rican real estate closing costs are traditionally shared between the buyer and the seller. Before the transfer deed can be added to the Registry, all closing conditions must be satisfied: notary fees paid, mortage costs listed, trasfer taxes paid, stamps paid and seller's property taxes paid. The Registry will not record the deed and it will be presented only. Within one year of presentation, the other conditions must be met and the transfer deed must be registered or the contract is annulled and you will owe 25% of the total public notary fee.
The property transfer tax is equal to 1.5% of the registered value of the property. The stamp duty is also paid during closing. Costa Rican law mandates that all stamps be included with the deed. The requisite stamps are: The Legal Bar Association Stamp (Timbre del Colegio de Abogados), The Municipal Stamp ( Timbre Municipal), The Fiscal Stamp (Especie Fiscal), The National Archives Stamp (Timbe del Archivo Nacional) and The Agriculture Stamp (Timbre Agrario). There is a Public Registry tax of 0.05% for all transfer deeds presented to be recorded in the Public Registry. When it is all finished, the cost of closing is roughly 1.9% per person.
Closing Costs Spread Sheet
Purchase Price
Sale Price
Registered Price
Stamps and Transfer Taxes
Property transfer tax
National Public Registry Fee
Bar Association Stamp
Municipal Stamp
Fiscal Stamp
National Archives Stamp
Agriculture Stamp
Notary Fee
First Million Dollars of Property
There-after
Closing Costs Split
Buyer
Seller
Closing Costs per individual
X
Y
1.5%
0.05%
<0.01%
<0.01%
<0.01%
<0.01%
<0.01%
1.5%
1.25%
50%
50%
1.9%
