What are typical closing costs when purchasing a property?

Closing costs in Costa Rica have many components.  The costs not only cover the legal fees but a variety of stamps and other taxes.  Here is a breakdown of the fees as of December 2017.  All prices are in US funds.  In our area of Guanacaste, it is customary for the buyer to pay the closing costs.  The seller will pay the 6% listing commission as well as the 13% sales tax on the commission amount only.

♦ Legal fees range from 1 – 1.5%

♦ Transfer stamps and taxes are around 2.5%

♦ Registration of the new title is 0.5%

♦ Transfer Taxes are 1.5%

♦ Timbre Archivo $1.00

♦ Timbre Municipal 0.2%

♦ Timbre Colegio de Abogados $100

♦ Timbre Fiscal $100

♦ Escrow fees range from $650 – $1000

♦ New corporation costs if needed are approximately $1000

♦ Mortgage costs are variable depending on the situation of the buyer This type of mortgage registration is assessed at approximately 0.25% of the sale price plus 0.53% of the sales price in documentary stamps. An additional 0.5-1.25% of the mortgage amount is due in notary fees.

 

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