Costa Rica is experiencing development and investor activity as never before.
The level of construction and new commercial starts indicate that the country has a bright future. The market has not reached it’s full potential and the timing for investment according to most indicators could not be better.
Another great testimonial: Expat Profile: Susan S.,Ojochal, Southern Zone
“Costa Rica has exactly what we are looking for in our life: A lower cost of living, access to good quality medical care (a new hospital has just opened 10 minutes from our lot), a lovely culture, friendly people, and a slower pace of life than what we are living now.
“I want our children to live a life rich with experiences. I grew up with a very narrow perspective of the world, and I know that life in Costa Rica will enable my whole family to gain a new insight into what life is truly meant to be.”
1.- BROKER’S STANDARDS OF CONDUCT
The broker shall comply with all applicable laws of the country and the Bylaws , Code of Ethics and other regulations issued by the Chamber . In his dealings with the negotiating parties , the broker will be loyal and truthful and will always act in good faith . The real estate broker must check the identity and legal capacity of his clients as well as the identification , status , features , liens , tax status and legal registration of the property or rights object of his dealings . He is responsible of informing his clients of any visible defect of the property , but he is not responsible for the solvency of the parties or for other elements of a personal nature that could oppose them or for hidden defects of the property or rights at issue . Nor is he required to guarantee an eviction . Since it is his obligation to have the basic knowledge of the profession , the broker should advise his clients on the legal and physical condition of the property which he must have visited at least once before offering it . It shall also be the broker’s obligation to inform the owner of any abnormal situation that he would know of that might affect the owner with regard to the buyer . The broker must be a good professional in order to be able to advise his clients responsibly . Therefore who maliciously , knowingly or negligently , recklessly or by incompetence causes harm to his client or third parties will be liable to disciplinary actions by the Chamber or by the legal authorities as applicable .
The broker must maintain the confidentiality of any information provided to him as such. It is considered unethical to disclose such information except in Che where this information affects the other party since the broker should not compromise his professional hovor keeping streets that could hat others . The broker cannot use his knowledge, CCCBR rules and regulations of the Code of Ethics to intimidate or press with false information or half-truths to harm others or obtain commissions that do not belong to him or to obtain a greater percentage that his normal share.
2.- CONTRACTUAL RELATIONSHIP WITH CLIENTS
There must be a written authorization to represent the client , be it the buyer or the seller .
Such authorization must clearly state whether it is exclusive or non – exclusive as well as its expiration date . It must also clearly define how it could be renewed and the percentage and form of payment of the broker’s fee
The broker is required to inform his client ( buyer or own er ) when other brokers are involved in the negotiation.
• Surcharges : the broker may not offer a good at a price other than agreed unless a written agreement with the owner expressly authorizes the change.
• The real estate broker must check the identity and legal capacity of his clients as well as the identification , status , features , liens , tax status and legal registration of the property or rights object of his dealings . He has the duty of informing his clients of any visible defect of the property ; but he is not responsible for the solvency of the parties or for other elements of a personal nature that could oppose them or for hid den defects of the property or rights at issue ( hidden rights , land use or others that makes it unfit for the intended use ) . Nor is he required to guarantee an eviction.
• The broker and his client must comply with Law 8422 against corruption and illicit enrichment , which obliges him to fill out the ” Know Your Customer Form “.
Remember, no matter what you decide, I insist you keep all this valuable research you receive today and in the next days, as our way of showing our appreciation for giving us an honest try. So you really do have everything to gain and very little to lose-except the chance to take advantage of the abundant opportunities to live better for less in Costa Rica and beyond.
