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CLOSING COSTS

It is customary for the Buyer and Seller to share equally in the closing costs.

Closing costs consist of:

  1. Real Estate Transfer tax – the government collects a property transfer tax (Impuesto de Traspaso) which is equal to 1.5% of the registered value of the property.  The Public Registry will not record a transfer deed unless the transfer taxes and documentary stamps have been paid.
  1. Documentary Stamps – The government also requires that documentary stamps be affixed to the deed.  These stamps amount to approximately 1.1% of the registered value of the property as follows:

1. Legal Bar Association Stamp (Timbre del Colegio de Abogados) - ¢25.00 for every ¢100,000.00;

2. Municipal Stamp (Timbre Municipal) - ¢2.00 for every ¢1,000.00;

3. Fiscal Stamp (Timbre Hospitalario) - ¢2.00 for every ¢1,000.00;

4. Agricultural Stamp (Timbre Agricultural) - ¢1.00 for every ¢1,000.00;

5. National Archives Stamp (Timbre del Archivo Nacional) - ¢20.00;

6. Public Registry Recording Fees (Derechos de Registro) .05% on documents presented for recordation to the Public Registry.

  1. Notary Fees – The Notary (Attorney) that drafts and records the contract for sale and carries out the closing is entitled by law to a fee equal to 1.5% of the first one million colones of the actual sales prices and 1.25% on the balance.

Above information obtained by:

The Legal Guide to Costa Rica
By Roger A. Peterson

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