The Buying Process, Step by Step
Buying property in another country might feel like a big step, but the well-established laws in Costa Rica make the process as straightforward as possible. We have worked to make purchasing land at El Bosque clear, secure, and stress-free, so you can focus on finding the perfect spot for you and your family, instead of getting lost in the paperwork.
1. Select Your Homesite
Start by choosing the lot that feels right for you—this is a pretty magical property, and each homesite has its own character. As you move through El Bosque, you’ll notice changes in topography, tree coverage, and the overall feel of different areas.
2. Sign a Letter of Intent (LOI)
The Letter of Intent (LOI) is a preliminary, non-binding agreement between you and El Bosque, outlining the basic terms of the purchase. Once signed, the homesite is reserved exclusively for you for seven days while the Purchase Agreement is prepared. If you're ready to move forward quickly, you can skip this step and go straight to the Purchase Agreement.
3. Execute the Sales and Purchase Agreement (SPA) & Make a Deposit
The Sales and Purchase Agreement (SPA) formalizes the deal. Once both parties sign, you’ll need to deposit 10% of the purchase price into an escrow account within 10 days.
4. Due Diligence Period
You’ll have 30 days to review all relevant documents and conduct any necessary studies or inspections (with extensions available if needed). This is your time to go over the details, ask questions, and make sure everything is in order before moving forward with the purchase.
5. Complete the Compliance Process
As part of Costa Rica’s financial regulations, you must provide proof of funds by submitting bank statements and Know Your Customer (KYC) forms. This step ensures full transparency and compliance with legal requirements.
6. Closing & Title Transfer
Once due diligence is complete and you’re ready to move forward, you’ll finalize the purchase according to the SPA. At closing (typically within 30 days of completing due diligence), the remaining balance is paid, and the property title is officially transferred to your name or LLC.
From start to finish, we’re here to guide you through every step of the process! Just reach out to our Community Manager with any questions.