Expat wins long, lonely fight to keep his investment

By: Garland M. Baker B.

Exclusive to A.M. Costa Rica

Editor's Note: While this article was accurate at the time of publication, some information may now be outdated. We are currently preparing a comprehensive update. Sign up for our Alerts to be notified as soon as the revised content is live!

After four long years of fighting hard in the courts in Costa Rica, an expat saved his property investment.  He thought all hope was lost, but in his case justice prevailed.  Last week, the expat had what was stolen from him returned:  A mortgage fraudulently canceled by property thieves and an attorney gone bad. 

The result of this expat's long legal battle shows that the criminal courts are impotent in fighting crime.  His case proves there is a way to use the civil courts to get back properties that were illegally transferred or manipulated.

Here is the story:

Mortgage scam traps expats seeking a good return

By: Garland M. Baker B.

Exclusive to A.M. Costa Rica

Editor's Note: While this article was accurate at the time of publication, some information may now be outdated. We are currently preparing a comprehensive update. Sign up for our Alerts to be notified as soon as the revised content is live!

Looking for high interest on money? There are loan brokers in the local market with customers looking for cash. Some of these brokers are even lawyers representing their clients.

Watch out. There is a scam which preys on anyone willing to lend their hard-earned savings. It is a trap for those blinded by money and eager to beat the interest they are getting at the bank or on certificates of deposit.

This is how the swindle goes.

Strong zoning push to target maritime zone projects

By: Garland M. Baker B.

Exclusive to A.M. Costa Rica

Editor's Note: While this article was accurate at the time of publication, some information may now be outdated. We are currently preparing a comprehensive update. Sign up for our Alerts to be notified as soon as the revised content is live!

Foreigners developing on the coast are handicapped because there are little or no guidelines for development.  Guidelines for developers come from regulatory or zoning plans.  These plans are — in theory — designed to align the land and human activities to the best use of resources without depleting those resources.

In the past, foreigners interested in developing have skirted the rules, especially in the maritime zone.  Often, they have had to do so because no coherent rules were in place.  Today, the Costa Rican government is finally trying to regulate growth and building, especially on the coasts, with integral territorial zoning plans.  Each one will encompass large areas.  These integral plans are coming for areas all over the country.

Faltering real estate market presents opportunities

By: Garland M. Baker B.

Exclusive to A.M. Costa Rica

Editor's Note: While this article was accurate at the time of publication, some information may now be outdated. We are currently preparing a comprehensive update. Sign up for our Alerts to be notified as soon as the revised content is live!

A personal trip to the Parrita-Quepos area to look at property and meet with real estate agents turned out to be an invaluable experience. The real estate slowdown is quite evident, but there is good news for well-informed investors. Today’s deep discounts are tomorrow’s profits.

For sale signs are everywhere. Property prices have dropped on some real estate 50 percent or more. Some people have walked away from the houses they were building before completion and assigned them to real estate agents with instructions to sell them for whatever they can get. Some condominium developers are selling their projects out using fractional ownership, so they can make some sales and bring in badly needed cash flow.