Doing Your Homework Before Purchasing Raw Land
We are finding increasing interest in purchasing raw land for the construction of that dream home in the Southern zone fueled by the lower land prices. The Southern Zone is the new frontier and still developing the infrastructure necessary for construction permits. It is very important that the buyers considering raw land have their lawyer do the due diligence to determine the viability of securing a construction permit.
Before purchasing raw land municipal zoning for the property should be checked, to ensure that there are no restrictions placed on the property, which would deny the issuance of a construction permit. Critically important is the determination that basic services such as water and electricity are available and evidenced by certifications from ICE for electricity and AyA or ASADA for water, constructions permits will be denied without these certifications.
Furthermore, the registered title, in the National Registry, would need to be reviewed, as well as checking with a number of other Government agencies like MINAET, who may have statutory authority to restrict development.
Though this may sound like a daunting process, Costa Rica in step with greater oversight has made due diligence simpler with greater transparency. The days of building now and ask for forgiveness have long passed. Make intelligent purchases by Doing Your Homework First Before You Buy!