Costa Rica´s Best Guide Online Magazine

of professionalism. Joining either or both of these organizations is still strictly voluntary and not a requirement to sell Real Estate in Costa Rica. Also, the oversight to proper conduct that these organizations can offer is limited to kicking out members that are proven to have acted improperly but not much more than that. Time and again there has been talk about the Government working on a proposed implementation of Real Estate legislation but that has not happened yet. So, it is important to get good Real Estate advice from an experienced and established Real Estate company with a good track record. BUT definitely get a good honest bilingual lawyer in your corner FIRST! One who is only looking out for you. (See Page 109 for one that I can personally recommend having used him for 25+ years).

ESCROW,

REAL

ESTATE

Legislation and Licensing

There is no legislation currently, that covers the Real Estate industry with regards to who can and cannot sell properties and other related topics such as mandatory disclosure, commission rates, required broker education, etc. Anyone can set himself up as a broker, make some business cards, open an office and start advertising properties for sale and many do just that including foreigners who are not legal residents and thus are not allowed to work. Even that friendly taxi driver you just met who speaks some English may try and sell you property. Some improvements have been made with real estate broker organizations such as the CCCBR and the CRGAR which require their members to take some educational courses and maintain a certain level

69