Regulatory Law Project for the Real Estate Contracts and Brokerage

The CCCBR totally supports the project of the Regulatory Law for the Real Estate Contracts and Brokerage, presented to the Legislative Assembly, under the file number 17595, with the support of the Executor Unit of Cadastral and Registry.

On December 3rd, 2009, a formal presentation of this law was made by Licensed Hernado París to the media communications and the general public.

The Directive Board of the CCCBR worked intensively through a special commission, to analyze and propose those necessary changes to control the practice of this profession and related issues. With the law we avoid any misuse of the credentials of any real estate agent.

The contract of brokerage is a deal among the proposer and the broker, with the idea to mediate with thirds parties when realizing a translational contract of domain or temporary usage of any Costa Rica property such as trading, trust fund, transfer, trade, any Costa Rica rentals, loans, etc.

It clearly defines the brokerage contract characteristics, and it also brings a definition of the agent and his or her activities, in this case, a physical person.

When talking about payment for the given services the commission is established in 5%, in the case of the transfer of the grant of the auctions or the fees of the merchandise society. It will be charged over the value of the company actives, it protects the broker and the state when realizing the fair payment. It is established a month of the rent price as a commission for rental contracts

Besides, the clarifications to these points, it is indicated the project, with the reason of its functions, will be free of payment of the sales tax.