Menu
Expat.com

HOW TO SELL A CONDO IN COSTA RICA

Post new topic

Joeleonard

Hello everyone, I am trying to make an inquiry on how best to sell a Condo in Costa Rica.
Are there faster ways of selling a Condo here in Costa Rica.
This 3 bedrooms Condo in a Resort has been in the market for 3 years without offers.
I would appreciate your kind suggestions.
Also I would like to know if Management Companies do Multiple Listing in Costa Rica.

kohlerias

Unfortunately, there are many, many properties that have been offered for sale, for an even longer time.

Best chance is to lower the price... :/

Joeleonard

Hello Kohlerias, thank you for your response.
The price of the Condo has been reduced and bills keep coming from the Agent managing the Condo because there is no tenant occupying the Condo presently.
It unrealistic to pay bills when there is no income generated from the property.
I would also like you to tell me if Management Companies in Costa Rica do Multiple Listing Services.
Thank you
Josephine

kohlerias

I don't think so...but could be wrong. Others may have more info on that.

Loïc

Hello everyone :)

@Josephine, if you have a property for sale, don't hesistate to post and ad in our Housing in Costa Rica section, it will help you to have more potential buyers ;)

@Kohlerias, thank you for your kind answers :)

Wishing you all a great day.

Regards.

Loïc
Expat.com Team

Joeleonard

Hello Loic, thank you so much for your kind reply.
I would go ahead and do that.
Have a good day.
Josephine

Joeleonard

Hello Kohlerias, I just saw your response and Loic's post
and advice.
Thank you so much.
Josephine

cratedivision

Yea that's what my agent keeps telling me......."lower the price".......unfortunately there is no proper realty service in the country.   Anyone can sell real estate so it's basically word of mouth - the "agents" put homes on their websites for a fee of 6%.  I have come across a very few that know what they are doing.  It's all timing and as others mentioned in this post, might be good idea to advertise here on this forum.  Don't be surprised if you sell it yourself.  Good luck!

Joeleonard

Hello Cratedivision, thank you so much for your kind response.
This property is presently in the market less some thousands of dollars which was the exact amount at the time of purchase meaning that it is been offered at a loss at the moment.

Agents want you to sell at a loss because they make their living through people that invested in Real Estates. The end to all their gimmicks is not in sight.

Thank you

Josephine

cratedivision

It will be a good day when the government steps in and monitors them and sets up a proper system for buying and selling homes.  I know of people who bought and then find out the property wasn't even for sale or didn't belong to the person selling it  -  yikes!  Not good for the overall CR experiences!

Joeleonard

Hello Cratedivision, I agree with you.
The onus is on their government to find a lasting solution to problems expats face in Costa Rica.
At the moment one has to be careful of who to deal with when it comes to buying or selling.

Philo71

I think using the best, most experienced, well connected agent in your area is key. Unlike in the US where homes sell themselves on the MLS, selling a home in Costa Rica takes a lot more marketing and networking.

I don’t want to rub salt in your wound but what ever price you were asking before the pandemic, you will need to cut that amount significantly. Goldman estimates that vacation property values will decrease by 35~45%.

cratedivision

Decrease by 35-45% - are you kidding me?   That's ridiculous!

Joeleonard

Hello Philo71, thank you for your response and the latest information from Goldman.
Have a good day.

Articles to help you in your expat project in Costa Rica

  • Buying a property in Costa Rica
    Buying a property in Costa Rica

    Costa Rica's political and economic stability, as well as its natural beauty and pleasant climate, make it an ...

  • Accommodation in Costa Rica
    Accommodation in Costa Rica

    You may find yourself rushing to enjoy the Pura Vida lifestyle — a laid-back philosophy of relaxing, having ...

  • Buying Property In Costa Rica
    Buying Property In Costa Rica

    The first thing about buying  Costa Rica real estate is that you need to be absolutely 100% SURE you want to ...

  • Accommodation in San Jose
    Accommodation in San Jose

    Accommodation is plentiful in Costa Rica's capital, and you'll find something to fit any budget or ...

  • Accommodation in Heredia
    Accommodation in Heredia

    Heredia offers a relaxed lifestyle while living in a city, and its convenient Central Valley location, near the ...

  • Accommodation in Santa Ana
    Accommodation in Santa Ana

    Wondering where to settle in Santa Ana and how to find accommodation? Find out in this article.

  • Work in Costa Rica
    Work in Costa Rica

    A low unemployment rate and a strong economy set Costa Rica apart from its neighbours. If you have fallen in love ...

  • The health care system in Costa Rica
    The health care system in Costa Rica

    Costa Rica has received international praise for its modern healthcare system, and both citizens and legal ...

All of Costa Rica's guide articles