By: Garland M. Baker B.
Exclusive to A.M. Costa Rica
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In many places in Costa Rica, property values are moving so fast that a great deal reached Monday could be history Friday.
Here is the ever-so-common scenario: A dream property is found for only $100K. A deal is struck between seller and buyer, and a firm handshake is exchanged between the parties to clinch it.
In the days of chivalry, when a person’s word was as good as gold, that would be enough. This in not true today. If the seller finds a better offer before money changes hands and before the property is legally transferred at the National Registry, the great deal sometimes fizzles out.
It happens every day in Costa Rica. One needs more than a handshake to protect an offer and acceptance.
