Typically, the standard legal fees for a real estate transaction in Costa Rica start at the minimum standard as established by the Costa Rican Bar Association (Colegio de Abogados), though higher amounts are possible depending on the specifics of a real estate transaction. So, it’s important to be clear with your lawyer and/or notary before buying or selling property in Costa Rica.
The starting cost for legal fees in Costa Rica real estate transactions are:
Legal fees =
1.25% of the total cost of the transaction for the transfer of the property
0.65% of the total cost of the transaction for the elaboration of legal documents for the transaction
NOTE: please see real estate transaction costs in Costa Rica for an overview of fees beyond the legal fees involved.
Legal Costs in Costa Rica Real Estate – Video Transcript
In a standard real estate transaction, it’s crucial to consider the legal fees associated with the process. In Costa Rica, the customary legal fees typically amount to 1.25% of the total transaction cost. This portion covers the transfer costs involved in the property’s sale or purchase.
Additionally, there’s a further 0.65% fee based on the total transaction value. This additional fee pertains to the creation and processing of the transaction agreements. It’s important to note that these are minimum rates set by the Costa Rican Bar Association through an executive decree.
Although these percentages serve as the established standard, it’s possible that higher amounts may be applied depending on the complexity or specific requirements of the real estate transaction. It’s always recommended to discuss these fees with your legal representative to fully understand your financial obligations in the property acquisition process.
General content provided by Javier Sauma at SaumaRossi legal studio in Costa Rica.