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No concerns my friend. Just experience and history. I truly wish you the best of luck here in CR. Perhaps you’ll revisit with us in a year and share your experiences at that point. In the meanwhile soak up as much information and knowledge from this site from folks that have some experience in CR. You might even find that what they share isn’t as naive or vacuous as you currently feel it might be.
Learning from the experience (and mistakes) of others is the cheapest yet most valuable education you will get in life…. and it’s absolutely free if you choose to avail yourself of it.
“In the USA, for instance, do immigrants, especially illegal ones defer to the “It is their country?” political stance. Of course not. They congregate in language related communities and make demands for change. So, we should not follow their lead?”
That statement in a nutshell sums up where you’re headed.
Good luck on your Costa Rican adventure my friend…. the two year countdown begins!
Hey Bill…. don’t scare him off… It’s not that bad! Although some of your points seemed to have a basis in true stories I too am familiar with! I do like the fact that you touched on the idea that under their system of law that trust is a much bigger issue than it might be in the US. As we both know, the legal system to resolve issues in CR is not for the faint of heart. And once again, you’re the foreigner. So don’t bet the ranch on a good outcome.
That being said I’ll once again stick to my earlier position that trust is a much more important commodity to be developed in CR as compared to the US. The idea that the legal system in CR is going to rescue you when you get into a bind in business is a dangerous position to take. I would much rather avoid that possibility by knowing who I’m dealing with and developing a circle of trusted associates that have a track record of honesty in dealing with the people I do business with. It’s served me very well for 11 years here and hope to continue that streak.
I know first hand Scott feels the same way and will only recommend people he is completely comfortable with. I’ve done business with a couple and have complete confidence in them.
Welcome. As to the trust issue. Once you become more familiar with CR and the legal system you will find that trust becomes a much bigger issue in doing business and in making every effort in avoiding the courts in resolving issues here. Being the outsider will require that you establish some trust in those you do business with here…. remember it’s their turf and you’re the visiting team. There are steps you can take to limit your risk in trusting those folks who’s services you will need to utilize.
I would guess there are just as many folks that hold an opposite opinion on your outlook in life and business of “knowing and loving” a person as the basis of establishing trust. Just look at the divorce rate as well as how many folks have been screwed by good friends and family in life and in business. People they knew and perhaps onced loved. Unfortunately I know many more of those folks than those that have been taken by professionals that were properly vetted.
In a real estate transaction you can also make sure the national registry has been properly updated with your information as owner before making payment to the attorney. It’s not that difficult.
BTW…. There is no limit on the amount ($10k) that you can bring into CR… it’s only required that you report amounts over $10k. I have brought in larger amounts without incident. The $10k number also comes into play on the cumulative amount you hold in CR bank accounts… once again… no problem… only needs to be reported with your tax return.
Good luck and welcome to Costa Rica.
I agree. Having trust in those you deal with in any transaction is the biggest issue. I’ve been very fortunate to have connected with top notch folks here in CR when doing business. A large part of that has to do with the information and referrals I have received from this very site. And for that Scott I thank you!
Ultimately it is one’s own responsibility to establish a trusting relationship with those in your life…. as well as in business.
Funny but I prefer to pay cash for the attorneys I work with… as I do with many transactions outside everyday minor expenses… and yes… they always give me a receipt. Cash is a private transaction, no middle man, no other parties with their hands in my pocket siphoning off fees or a percentage of the transaction as you have with bank involvement or credit cards. No big brother involved in the exchange with the ability to ask questions.
Cash is a straight forward transaction between two parties that have not yet fallen for the idea that cash is somehow an indicator of some type of dirty business. Big brother and the banks would love to go to a cashless society. It creates a mechanism of complete control and unlimited profits. Just imagine a society where government is a able to monitor every dime you spend…. and worse… a banking system that is able to take a small percentage of every transaction for the “convenience” of not having to use cash.
It’s bad enough we already have governments that tax you when you earn money… then when you invest it…. and ultimately when you spend it. Giving the banking complex the same ability is not something I’m interested in doing.
Hey Bill… hold the press there a moment. I think the hysteria over FATCA is way over blown. In the last 8 months I’ve made numerous wire transfers to and from CR without issue… and peeking out the window right now from my home here in NY there’s no black sedan with tinted windows parked across the street from my house!
In the past 5 months I’ve also purchased a property in the 250k+ range, a new car, and opened an additional bank account at another bank in CR…. all involving the movement and wiring of large sums of money…. all without a hitch or problem.
I’m a big believer in personal freedoms and FATCA and all the associated laws are a hassle and the results of a desperate US government trying to control the flow of wealth out of the country, nothing more. But in my experience if you know the rules and have the right documentation and answers there’s no problems doing business in Costa Rica or moving your assets off shore at the moment. That may very well change. Seeing where things are headed in the US I’m much more comfortable hedging my future with some offshore investments in CR in addition to some other hard (and mobile) assets I have transitioned to.
As for Costa Rica currency being tainted with drugs (as are most larger denominated currency in many counties)… sure the bills in CR pretty… beautiful wildlife on each… but my bank card from BNCR serves me well without the hassle or concern of packing any sizable amount of cash in my pocket. If “dirty” money is a concern you can always wash it in some dish detergent before putting it back into circulation.
Great (and brutally honest) observations from a broker who knows the area and the market! THAT IS WHY….you work with a reputable broker… they are worth their weight in gold! I’ve been very lucky to have connected with three great real estate brokers via this site… and am thankful I did!
The only issue I have with his assessment is the math. The property in question is 2.75 Acres… at a hypothetical $25/Sq Meter as he stated the price would actually be about $278,225…. thus making it even more unsellable I’m guessing! LOL
It would seem that you may have already handed over the cash in this deal…. hence the snail pace and lack of interest on the seller’s part to resolve the issue. The time for document reviews and attorney involvement is BEFORE you part with your money.
Sorry to say but with the civil courts in CR, should this situation need to be resolved there, it will be a long and expensive journey. You might want to weigh the cost of correcting the importation tax issue and registration and it’s cost on your own when you decide which route to take. It might very well be quicker and cheaper… be it a tough pill to swollow.
ANY competent attorney could find out if the boat was documented and registered properly rather quickly. Find another lawyer.
You’re soooooo right!!!!
A good part of the real estate for sale in CR is being placed on the market just in the hope that the bigger fool will come along with blinders on and a bag full of cash.
There are fire sales… most often expats that jumped in and didn’t last.Those situations can offer some real value if you find them.
There are folks that think they’re sitting on the golden goose and have the ability to wait… at least for a while.
I’ve seen property for sale for 10 years….guess those folks aren’t in a rush to sell. Just testing the waters.
I’ve seen the sale price increased on property as soon as someone agreed to the asking price. Once again… just seeing what the market is… and if someone offered the asking price… there must be someone that will pay more! LOL
It’s a wild market in CR. You need to do your homework, work with a good broker, take your time, know the market, and be ready to pick your target when the opportunity occurs.
Hire a professional estate broker that will market the property properly and give it the exposure it needs to sell at a good market price if it is as desirable as you believe it to be. The idea of privately selling it to some “rich investors” sounds good until you try it. EVERYONE in CR is selling real estate.
You might also want to get an attorney to clear up and review any ownership and prior transfer issues if it is an inherited property with multiple heirs. Clearing up any potential issues prior to trying to sell this property and having a clear title will increase the value and smooth over any potential problems down the road.
I’ve seen numerous deals fall apart in the circumstance you’re describing when folks don’t take the time to put things in order and start hanging fliers in town or posting ads on the internet.
A professional real estate agent will help you to avoid many of these problems. I’m sure Scott can recommend one in that area.
BTW…. I am not…. nor have I ever been involved in selling real estate and my advice is based solely on being a buyer of property. I don’t have an interest in marketing or selling real estate.
Just my two cents.
[quote=”Scott”]Our VIP members will know that I have been saying this for years….
“Make no mistake, the government is ready for a civil uprising…. Indeed, the government has been preparing for this moment for years.” John W. Whitehead
From: [url=https://www.rutherford.org/publications_resources/john_whiteheads_commentary/there_will_be_no_second_american_revolution_the_futility_of_an_armed_r]There Will Be No Second American Revolution: The Futility of an Armed Revolt.[/url]
As an example:
“The preparations for the Republican and Democratic national conventions taking place in Cleveland and Philadelphia—augmented by a $50 million federal security grant for each city—provide a foretaste of how the government plans to deal with any individual or group that steps out of line: they will be censored, silenced, spied on, caged, intimidated, interrogated, investigated, recorded, tracked, labeled, held at gunpoint, detained, restrained, arrested, tried and found guilty.”
[/quote]
Federal, State, and Local law enforcement will be stretched to the limit in just dealing with these two non concurrent political events. Now take that same civil unrest and multiply it by 100 simultaneously erupting events in the case of widespread anarchy occurring in major cities if the poop really hits the fan…. the government (fed/state/local) is in no way prepared for such an event.
Sadly the recent events in Dallas and Baton Rouge have demonstrated just how thin the blue line is in keeping the population under control. And these two events were perpetrated by lone individuals. Even tossing in all the state and federal manpower would not be enough to corral an out of control desperate population.
“Even now, what is affectionately called the FSA, is the only growing segment of the population. Those that work and save and pay more in than they take out are solidly on the road to extinction.”
That in a nutshell is the problem. With all the talk about the “disappearing” middle class people completely ignore the fact that those taking are out breeding those that produce. Government policy and pandering politicians have placed us on this road to ruin which at this point has no way to be corrected without pain and turmoil that few are willing to endure. It’s better to just let the band keep playing and pretend that the ship isn’t destined for the bottom of the ocean.
I laugh when people talk about the nation debt that has fueled the mess in the US. I stop them in their tracks and ask them what a “debt” is. Then clarify that a “debt” is a monetary commitment that one intends to repay. Then I ask them just how do you think Uncle Sam intends to do that? Uncle Sam is just bouncing ever increasing debt from one credit card to another, just like folks that are living above their means and can’t manage their money…. and we all know how that ends don’t we?
With 320 million folks (and almost as many guns)in the US the powers that be will be more than overwhelmed with the anarchy that will exist is the major cities. The F.S.A. will keep them quite busy! The true patriots won’t be their main concern. Besides it’s very unlikely that any military or “civilian” armed forces will be willing or capable of controlling a population of fellow Americans that are targeting them and their families.
What most folks underestimate is the morale of our own armed forces being put into conflict with our own citizens. When you have Americans shooting at their own soldiers it will change the entire dynamic of the situation. Technology and gadgets only get you so far. You still need to put boots on the ground. When those boots become the target of fellow Americans we’ll see how long that last! Very few will feel that’s what they signed up for, and when the safety of their own loved ones is forced into the equation most will be very unwilling to pay that price to carry out the will of a government out of control.
Hundreds of billions of dollars buys you gear, you still need PEOPLE to fight a battle. THAT is the weak point in ANY battle.
I guess after the events in Dallas last night we have our answer to the original question. It’s getting very close to go time folks…. are you prepared?
Politicians have empowered and nurtured this segment of society and assisted in it’s expansion… and when collapse comes they will be the first to push things to the point of anarchy.
The F.S.A. will demand what it wants. And will resort to violence to keep enjoying the free ride.
I half hope Hillary wins… I’m guessing the collapse will happen under her tenure.
