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Investing in Costa Rica |
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 Douglas Soto, Lawyer
Legal Affairs Advisor
Zürcher, Odio & Raven
San José, Costa Rica, Guachipelín de Escazú
Centro Corporativo Plaza Roble, Edificio Los Balcones, cuarto piso.
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.zurcherodioraven.com
September 2009
If you have decided to invest in Real Estate in Costa Rica, you have probably made one of the best investments in your life. Costa Rica is not only a tropical paradise, as it is also one of the nicest places in America to enjoy vacationing, living, retiring or traveling.
Among our experience giving legal advice to our clients, we have selected a few subjects of general interest for real estate foreign clients, hoping to provide you with an initial outline of important items to be taking care of when coming to Costa Rica to invest.
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Understanding foreign conventional mortgages |
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 Angela Jackson
Foreign Property Specialist.
Canadian Loan Officer for
Conficasa Mortgage International
July 2009
www.conficasa.com
Despite the global economic environment,
foreign lenders continue to offer Canadian
residents conventional mortgages for their
investment properties in the United States, Mexico,
Costa Rica, Panama, Caribbean, and many
other Latin America countries. The responsible
lending guidelines prove to be a viable option for
many Canadian investors, as foreign lenders have
a strong commitment to protecting the integrity
of this new mortgage climate. The borrower
profile must prove to be both credit-worthy and
capable of servicing the debt, and in most countries
provide full verifiable documentation. |
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The New Global Economic Reality |
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Mexico and Reality
By Charles Simpson
July 27, 2009
NOTE FROM WEBSITE FOUNDER, Gail Wallace: This piece refers to US conditions/etc. The information about Mexico is very relevant to Canadians interested in investing and retiring to Mexico. Rosalind Wilson, President of the Canadian Chamber of Commerce is quoted in the article.
First: A reality check on Mexico
Mexico is in a unique position to reap many of the benefits of the decline of the US economy. In order to not violate NAFTA and other agreements the U.S.A. cannot use direct protectionism, so it is content to allow the media to play this protectionist role. The U.S. media – over the last year – has portrayed Mexico as being on the brink of economic collapse and civil war. The Mexican people are either beheaded, kidnapped, poor, corrupt, or narco-traffickers. The American news media was particularly aggressive in the weeks leading up to spring break. The main reason for this is money. During that two-week period, over 120,000 young American citizens poured into Mexico and left behind hundreds of millions of dollars.
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Spain to the FORE! |
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Sat. August 29th, 2009
Calgary Herald
By Kathy McCormick
Sometimes, things happen for just the
right reason.
Take the case of John and Jimmie
Knoeck.
Once work was done, the retired couple
moved to the quiet solitude of a ranch near
Lundbreck Falls in southwestern Alberta.
They were exploring the possibility of
buying a recreation property in Mexico
for investment when theywent to the Calgary
Herald's Recreation and Investment
Properties trade show in January, where
they won a trip to Spain through Seekers
Canada. |
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HOW DO I KNOW WHICH MEXICAN DEVELOPERS HAVE SUFFICIENT CAPITAL TO BUILD? |
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 Raul Jaime
San Angel Closers – Land Investments – Mexico
July 2009
www.sanangelclosers.com
Many people approach me wanting to know if the particular development where they want to purchase has enough money to build and deliver the units as promised. I tell them that, while there are other ways to find out, the best and easiest way to tell if the developer has sufficient capital or financing in place to build is to look at their contracts, payment structure and delivery commitments.
Like in the US or Canada, most developments in Mexico begin their sales process many months before the planned delivery date of the project. This practice is normal as developers want to move their units as quickly as possible. However, many developers do not have sufficient financing or capital available to build their projects and they rely on their pre-construction sales to complete them. During times of bonanza this practice is barely noticeable as the volume of sales allows developers to build and deliver without delay. Unfortunately, when a developer is only relying on proceeds from their presales to finance construction they may run into trouble if their sales are slower than expected. |
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Canadians cash in on piece of southern paradise |
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By Fiona Anderson, Canwest News Service July 25, 2009
With the recession hitting the United States harder than Canada, and the Canadian dollar still strong, this may be a great time for Canadians to buy that sunny, tranquil getaway in the U. S. or farther south. But to make sure it is tranquil, do your due diligence, just like you would at home.
Tom Kelly, a syndicated columnist based in Washington state, has co-authored two books about buying real estate in Mexico and Central America. |
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