The Ultimate Checklist for First-Time Buyers in Guanacaste

Key Takeaways

• The purchase process in Costa Rica moves through four distinct phases: preparation, property search, due diligence, and closing
• Each phase has specific steps that protect your investment when completed correctly and in sequence
• Engaging your attorney before you identify a property, not after, gives you the legal framework you need to move confidently
• Due diligence is your most important protection: the 21-day period is contractually protected, fully refundable, and should never be rushed or abbreviated
• Closing costs of 4 to 6% need to be in your budget from day one, not discovered at the closing table

Phase 1: Before You Start Your Search

Preparation checklist:

• Define your budget including the purchase price, closing costs (4 to 5%), ongoing property taxes (approximately 0.25% annually in Costa Rica), HOA fees if applicable, and a realistic maintenance reserve
• Determine your intended use: primary residence, vacation home, investment rental, or long-term retirement
• Identify your must-have location requirements: walkable to beach, marina access, gated community, mountain or ocean views, proximity to international schools or healthcare
• Engage a qualified, independent, bilingual Costa Rican attorney before viewing any property. Your attorney should have specific experience in Guanacaste real estate and ideally in the specific municipality where you intend to buy
• Confirm your financing plan: cash, home-country equity, developer financing, or local bank mortgage
• Understand the titled vs. concession distinction before you begin looking at coastal properties

Phase 2: Property Search

Search checklist:

• Work with a licensed, reputable real estate agent who has direct market knowledge in Guanacaste and ideally in your specific target area. Ask how many years they have been operating in this market and request references
• Confirm that your agent represents you and can show you properties from all agencies, not only exclusive listings from their own brokerage
• For every property of serious interest, request the folio real (property title number) and plano (survey map) before making an offer
• Visit properties in person whenever possible. Photos and video tours are useful tools but do not replace direct experience of the site, the surrounding area, and the access road
• Visit the property area at different times of day to understand traffic, noise, and neighborhood context
• Research the specific community or development: current HOA fees, pending assessments, developer reputation for pre-construction purchases, and what amenities are actually operational versus planned

Phase 3: Offer, Contract, and Due Diligence

Offer and contract checklist:

• Have your Attorney or Real Estate Agent draft the Offer to Purchase or Option to Purchase 
• Confirm the deposit amount (typically 10% of purchase price) and that it will be held by a SUGEF-licensed escrow provider, not the seller or agent directly
• Confirm the due diligence period length (standard is 21 calendar days) and verify your deposit is fully refundable during that entire period
• Confirm all included furnishings, appliances, and personal property are itemized in the contract. Most resale homes and condos in Guanacaste are sold furnished
• Verify which closing costs are buyer-paid and which are seller-paid, and get that in writing in the contract

Due diligence checklist:

• Title search at the Registro Nacional confirming clean title, no liens, mortgages, or annotations
• Verification that property taxes are current (delinquent taxes can become a buyer obligation)
• Zoning and land use confirmation: the property must be appropriately zoned for your intended use
• Building permit verification for all structures on the property
• Maritime zone status confirmed for any coastal or beachfront property
• Utilities: water, electricity, and internet access confirmed and any pending connection fees documented
• HOA documentation reviewed: budget, reserves, meeting minutes, current fees, and any pending special assessments
• If the property has a pool, any mechanical systems, or significant appliances, a professional inspection is recommended
• Survey (plano) reviewed to confirm boundaries match what is represented

Phase 4: Closing

Closing checklist:

• Confirm final funds have been wired to the escrow account in full and on time
• Review the closing statement prepared by your attorney itemizing all payments
• Confirm the ownership structure (personal name or corporate) has been finalized with your attorney before the signing date
• Attend closing before a Notary Public (an attorney) who will execute the transfer deed
• Obtain confirmation from your attorney that the deed has been submitted to the Registro Nacional for registration. Note: registry update can take several weeks to appear in the public record
• Receive and securely store all property documents: title, survey, HOA documents, permits, and any relevant warranties

After Closing

Post-closing checklist:

• Register the property with the applicable municipality and confirm tax registration in your name or corporation
• Obtain homeowners insurance. Properties in Guanacaste near the coast require coverage that accounts for the marine environment
• If subject to the luxury home tax, register and confirm your annual payment schedule
• If renting the property short-term, understand Costa Rica's income tax obligations for rental income and ensure your corporation or personal filings are current
• Establish a property management relationship if you will not be full-time on-site
• Connect with the local expat and owner community in your specific area, particularly in gated communities where HOA engagement matters

FAQs: First-Time Buyers Checklist Questions

How long does the full process from offer to closing typically take in Guanacaste?

What happens if due diligence reveals a problem?

Is a property inspection standard practice in Guanacaste?

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