A STEP-BY-STEP GUIDE TO ACQUIRE LAND IN SAMARA, COSTA RICA

Acquiring land in Costa Rica presents an exciting opportunity to own a piece of paradise. Whether you’re planning to build a dream home, develop a vacation rental, or invest in the growing market, understanding the process is key. 

Below is a step-by-step guide to help you navigate the land acquisition process.

1. Determine Your Budget and Location

Before beginning, evaluate how much you’re willing to invest, including additional costs like legal fees, closing costs, and development expenses.

Samara offers a variety of properties, from oceanfront lots to quiet hillside retreats. Take the time to choose the area that best aligns with your lifestyle and investment goals.

2. Engage a Local Real Estate Agent

It’s essential to work with a knowledgeable local real estate agent who understands both the market and the regulations in the Samara area. Manage My Property is a trusted agency located in Samara, and our team speaks fluent English, Spanish, and French, ensuring that we can effectively communicate with international clients and help them feel confident throughout the process.

With our expertise in Samara’s real estate market, we can provide valuable insights into property values, zoning restrictions, and investment opportunities.

3. Understand Zoning Laws and ZMT (Zoning Management Zones)

The Maritime Terrestrial Zone (ZMT) applies to properties near Costa Rica’s coastlines, including Samara. The ZMT is designed to preserve the environment and control development in coastal areas.

These regulations limit certain types of development, focusing on residential, tourism-related, or small-scale commercial properties near the coast. Manage My Property is experienced in navigating these zoning laws and can help ensure that the land you're interested in complies with ZMT guidelines.

4. Check Land Ownership Eligibility

Foreigners can legally own property in Costa Rica, including in Samara, except for land within 50 meters of the high tide line or in border areas. Since Samara is outside these restricted zones, foreign ownership is allowed.

Many foreign buyers opt to purchase property through a Costa Rican corporation. Manage My Property can assist with establishing a corporation, which is a straightforward way for foreigners to own land.

5. Verify the Property’s Legal Status

A title search conducted by a trusted lawyer is crucial to ensure the property is free from liens or other legal issues.

6. Letter Of Intent (LOI) & Purchase Sale Agreement (PSA)

Once you've found the right property, a formal letter of intent (LOI) should be sent to the seller stating important points to help draft the PSA such as the price of sale, the broker commissions and the closing fees structure. 

Uppon the signing of the LOI by the seller, a purchase sale agreement contract should be drafted by the seller and his legal team. This document outlines the terms and conditions of the sale with important points such as the amount of the deposit, the due dilligence items, important dates as per the date at which the due dilligence requirements should be completed and the closing date.

Typically, a 5-10% deposit of the purchase price is to be deposited onto an ESCROW agent account at this stage to demonstrate your commitment. This deposit refund clauses should be stated in the PSA. 

7. Complete Due Diligence

Part of the due diligence process includes verifying the land's boundaries with a licensed surveyor. This is important to avoid disputes over property lines and confirm that the property registered plans matches the on-site reality of the property. 

It’s also necessary to request both a water access letter and an electricity access letter, from the seller which confirm that the property has legal access to essential utilities. 

Manage My Property will guide you through the due diligence process and the purchaser legal team will verify utility access and confirming the property’s compliance with local zoning laws.

8. Finalizing the Sale

The transaction is finalized by signing a public deed in the presence of a notary public, who will ensure the sale is legal.

The notary will then register the property at the Public Registry, officially transferring ownership.

9. Payment and Closing

It is common to condition the final balance payment to the property transfer registration completion.

At Manage My Property, we are dedicated to assisting you every step of acquiring land in Samara. With our fluent English, Spanish, and French-speaking team, we make sure international clients feel comfortable and informed throughout the entire process. 

From understanding ZMT regulations to securing water and electricity access letters, we guide you through every detail to ensure a smooth and successful purchase. 

Let us help you make your dream of owning land in Costa Rica a reality and contact us today for a free consultation.