A friend of mine sent me a real estate article about Costa Rica today.

The article basically stated what we already knew about the real estate crisis except that this article was an actual news article.  Here is a link to the article in question, http://www.canada.com/travel/Crisis+bites+beach+boom+Costa+Rica/1409664/story.html

After reading this, I thought that as responsible real estate agents in Costa Rica we would stress again how important it is to fully do your rsearch when purchasing property that is still being constructed or in development.  So buyer beware and make  sure that you know exactly where their fundings are coming from.  If the fundings are coming from the people pre-purchasing the condominoum or house then beware.

If the funding is coming thru a bank and the company does not have at least 15% in emergency fund beware.

I hope this helps and to be on the safe side in this tough economy you should buy a home that is on the market instead. 

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