Escrow inspections & appraisals
What Happens During Inspections and Appraisals
After an offer is accepted, most buyers will schedule a licensed inspector to review the property. Some may bring in specialists for things like electrical systems, roofing, structure, or plumbing. If financing is involved, the lender will also require a third-party appraisal to verify that the property’s value supports the purchase price.
In the case of commercial properties, environmental or soil reports may be requested, depending on the lender’s requirements.
The Role of the Closing Agent
A Costa Rican attorney or a licensed escrow company will act as the closing agent. Their job is to review the full history of the property’s title, verify it is free of liens or encumbrances, and ensure it is ready to transfer cleanly and legally.
Understanding Contingencies
Most contracts include conditions, or contingencies, that must be satisfied for the transaction to proceed. Common contingencies include:
- A satisfactory inspection
- Loan approval
- Clean title
- Access to water and utilities
Depending on the results of the inspections, buyers may proceed, cancel, or renegotiate the terms—often the price. As your representative, we help you respond fairly and strategically to any buyer concerns, always protecting your best interests.
Working with Serious Buyers
We advise sellers to consider offers only from buyers who are pre-approved or have written loan commitments, not just pre-qualifications. This helps ensure a smoother process and fewer surprises during the appraisal phase.
Expect the buyer’s lender to send an appraiser to assess the market value. If the appraisal supports the agreed price, the sale moves ahead. If not, we’ll help you navigate your options.