Costa Rica Real Estate Fraud

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The U.S.- Costa Rica Real Estate Fraud Increasing

The police (OIJ) busted a real estate closing Monday and arrested five men suspected of Costa Rica Real Estate Fraud. The arrests took place at the closing agent’s office in Guadalupe. I have learned from news sources, that the agents uncovered an elaborate scheme. Prior to the fraud completion police notified the real owners. As a result the police were able to thart the fraud.

They are incredibly lucky.

What we know

According to news sources, the unusual thing was that the agents were able to move in at the closing. OIJ spokesperson said they received an anonymous tip, The tip was last week, and enabled OIJ to contact the real owner of the property who said that his land was not for sale. Of those arrested one is 82, and the other suspects are 35 to 52, according to OIJ. OIJ did not reveal the names of the suspects. The property in question is in Tres Ríos in the Cartago area.

Authorities moved swiftly

OIJ acted quickly after obtaining the tip and was successful in thwarting the fraud. Being a Certified Fraud Examiner, I know that most of these types of real estate fraud are not detected until sometime after the closing. By being proactive the OIJ and its agents should be applauded for detecting and preventing this fraud. As in the United States, typically real estate fraud cases have low priority and insufficient resources to detect, apprehend and prosecute such cases. If you are considering buying real estate in Costa Rica, call us! We know the ends and outs of Costa Rica Real Estate Fraud.

Conclusion

If you are thinking about or in the middle of a real estate deal here, stop and call us. I recommend this and compare it to a second opinion from a doctor.

Costa Rica Squatters

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Costa Rica Squatters: Just when it seemed that investing in property in Costa Rica was safe, today saw the expropriation of property occupied by Costa Rica squatters. After a lengthy legal 2-year battle, a group of Costa Rican squatters expropriates land from owners. Squatters (“Campesinos”) have managed to take approximately 1050 acres from Dutch investors after a lengthy 2-year court battle.

April 2011 saw 316 families enter the farm in Medio Queso de Los Chiles. Located in Costa Rica’s central Northern Zone, near the border of Nicaragua. I know, the land belongs to a group of investors, who rented the property to Costa Rica farmers. Consequntly, the land grab continues. If you have property here especially now, and you are an absentee owner beware you are at risk.

What is a squatter?

In the US, a squatter is any person who has moved onto property without permission of the owner. Commonly known as adverse possession. Similarly, Costa Rica squatters move onto the property. Your intervention can stop the squatters building and protect yourself. I know the land is owned by a group of Dutch investors, who rented the property to a Costa Rican farmer. The farmer has been using the land to grow crops for the past few years, but the investors have decided to sell the land to a new buyer.

The farmer is worried he will lose his land and his livelihood if the new buyer decides to evict him. Shifting buildings and dwellings and claiming the land as their own. The squatters claim the owners were not producing on the land. This is despite the declaration by the Costa Rican that had leased the land. Subsequently, asserting that he had made over $2 million in improvements to the agriculture area since the time he leased it.

The conflict grew over the next two years, with the Costa Rica squatters being evicted numerous times by the police. On several occasions, the attempts to evict the squatters turned violent. The squatters alleged in addition to destroying their homes on several occasions the owners hired men to destroy farm animals. Moreover the men in doing so their belongings as well.

What happened next?

The squatters frequently returned to the property after being evicted, sometimes within hours of the eviction, and begin rebuilding. The dispute made Costa Rica national headlines last year when a secret audio recording of a police officer instructing privately hired guards to “shoot to kill” was made public.

The government agency that oversees such disputes, known as the Rural Development Institute (INDER) issued resolution 032-2013 this week, which orders the land to be expropriated and given to the squatters.

Over the years, the squatters have drawn support from many Costa Ricans, including on social networks. The local daily, newspapers heralded the decision by INDER to expropriate the property. One paper *Dario” declared, “This agreement is a triumph for rural families of that community”. “The successful expropriation sets a precedent for struggling “Campesinos” (squatters) of the country. It shows that INDER is legally qualified to expropriate and distribute land to “Campesinos” who need it,” the newspaper continued.

Adverse possession in the US

Unlike the United States which has statutes in all states covering adverse possession, Costa Rica has none. Costa Rica law provides that unimproved agricultural land can be occupied by squatters. Furthermore, once they erect a structure they can obtain title to the land. There is no time restriction, thus the land once occupied by the squatter takes a court action to remove. The United States adverse possession laws give time limits with most requiring seven years of occupancy openly and notoriously prior to the squatter obtaining title.

This decision will have a chilling effect on foreign land investors. Gear said that any investor contemplating investing in unimproved land in Costa Rica should seek the services of a licensed attorney in Costa Rica prior to buying such land.

Mistakes to avoid in Costa Rica

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Five Mistakes to Avoid in Costa Rica

As a tenured professional private investigator in Costa Rica, I have witnessed the unnecessary loss of money and emotions. Therefore, I have prepared a list of five mistakes to avoid in Costa Rica.

The law is an amazing preventive, but can also be a devastating curative medicine. So, please let me try and help you avoid mistakes made by those who came to Costa Rica before you, and try and keep you out of ‘hot water.’

1. Do not do anything you would not do in your own hometown: Many foreigners seem to believe they can outsmart the system when they come to a less developed country. Perhaps. the kind manner most Costa Ricans behave with ex-pats. Which in turning them into wishful thinkers. Always bear in mind that the legal system in Costa Rica is Napoleonic, not Common Law. Consequently, things are handled very differently than in the US or Canada.

Because of that, the best place to begin your investment plan is in an attorney’s office. It is best not to try the Do it yourself method! Some people, in trying to save some dollars in legal fees, avoid finding a good attorney. Subsequently, their issue is not resolved and they lack guidance through their problems. Do not do that! Do your homework. Find an attorney you feel comfortable with and stay with him for as long as he does a good job.

2. Do not rush into the decision of hiring an attorney.

If you are thinking of investing in Costa Rica; like it or not hiring a local attorney is a must for you. It does not matter if you are just buying a car, a home, or planning to set up a million-dollar business. You will need an attorney. You may not like the idea of paying legal fees, but who does? But accept it and live with it. The idea is to have your lawyer working for you as ‘preventive medicine’, as a kind of insurance against what ‘might happen.’

Consider the legal fees as your insurance premium, because that’s really what it is. Today, you will pay a fraction of what it will probably cost to try and fix that problem later on if you do not have an honest attorney to guide you.

3. Do not think of buying Costa Rica real estate and only follow the real estate broker’s advice!

In Costa Rica, real estate brokers are not licensed in the same way they are in the United States. Some of them are real professionals, but a lot of them are just ‘enthusiastic’ salespeople. Many more are con people trying to make a quick dollar.

In either buying or selling real estate, you will probably have a need for a broker’s services. But if your Costa Rica real estate agent is first class, have your attorney on board to supervise the process. Remember no real estate can be transferred here without a Notary. All Notaries here must be licensed Costa Rican Attorneys. Never use the Notary or attorney of the buyer. This is not only a conflict of interest, it’s a sure way to fall victim to fraud.

4. Do not blindly trust your own countrymen!

Just because they have been here more time than you have. I have seen US citizens being conned by US people and, Canadians by Canadians and so forth. Be careful! There are a whole lot of strange people in this country, some of them fleeing from the FBI, Interpol, ex-wives, and even from mental institutions.

5. Gentlemen! Please remember that you do not, I repeat, do NOT need to marry the first beautiful ‘Tica’ (Costa Rican woman) that you meet! You will find yourself in the middle of the biggest financial and emotional nightmare imaginable.

Equally important is getting romantically involved with a woman you have only recently met. Ask yourself this simple question, “if she were in the United States, would she be this interested in me?’ This is particularly true if you are 55 and she is 23. Chances are she is using you as a sponsor. Women will sleep with you after talking to you for 10 minutes. It is a business and she is doing her job. You are paying her for a service that she is doing. If she tells you she loves you she is only doing her job and you are paying her to lie to you. Prior to making and romantic or financial commitment, get her checked out.

Protect your Costa Rica Private Property

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Costa Rica Property Fraud Alert Service

As an absentee owner, it is important to be aware of any activity concerning your property in Costa Rica. You need to protect your Costa Rica private property. The Private Property Registry (PPR) is a valuable resource that can keep you informed and help prevent fraud. Currently, the PPR protects over 15,000 properties in Costa Rica. If you are an absentee owner this service will protect your Costa Rica Private property. We are here to assist you to secure your property.

Each night, the PPR robot downloads data from the National Registry’s database. They keep the information in an encrypted file. Robots scan the encrypted files that are questionable. Robots analyze the data and compare it to yesterday’s results. Analyzed each entry line by line and flag any entry that needs further analysis. Sending the analyzed data to the respective lawyer for review.

The National Registry, following procedures required by law, update the records. One requirement is the record holder appear in person. Alternatively, an authorized designee with the appropriate documents justifying why a change has been rsuequested. Thus protecting businesses from fraudulent claims and false allegations. Strict rules serve the public interest as these would damage their reputation and credibility.

Subsequently, a bureaucrat will determine if they are valid and if any errors are in the descriptions or clauses. Discrepancies flaged for further review by the respective agents. Further inquiry reveals that this service is affordable. Loss prevention is always better. Property needing to be recovered is always more challenging and costly.

Summarily, the cost of the PPR is negligible compared to the potential loss you could suffer. Checking the cost of PPR is less than $200 per year. PPR offers a premium rate for additional services. I would recommend contacting them directly.

Different Types of Fraud in Costa Rica

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Fraud in Costa Rica, believe it or not, seems to be endless. Fraud, whether it be real estate, marriage, investment, or squatters can cost you everything you have. The toll financially and emotionally from enduring such fraud goes without comment. I emphasize to my clients that always trust their instincts. If “it sounds too good to be true”, then it is! The different types of Fraud in Costa Rica are numerous.

Most of my clients contact me after sensing something just isn’t right. Many dismiss this feeling and delay action that could help them before it is too late. As a potential victim of a fraud, you owe it to yourself to have your matter investigated by a professional fraud investigator.

The local print and electronic news services in Costa Rica report fraud on a daily basis. The OIJ, an understaffed, underfunded police branch, struggles to handle reported fraud casesgency. Non-Costa Rican cases receive low priority and often go uninvestigated by understaffed OIJ Read more

How to find a private investigator in Costa Rica

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How to find a Private Investigator in Costa Rica? That seems to be the number one question that our colleagues get asked in the states. Followed by, When should I hire a private investigator? Honestly, both of the questions are 100% valid. Finding a Private Investigator is hard; finding an investigator in Costa Rica is even harder. To find a trustworthy, licensed, and experienced investigator, you will need to conduct your own research. Having investigative skills will help you find a PI that fits your needs.

If you found this article, it means you probably came from a Google Search. Because of the internet, nowadays, it seems that everyone is advertising private investigation services here in Costa Rica. In doing so, there are some things you need to know.

First:

There is no governmental oversight of the private investigation industry here in Costa Rica. Likewise, there is no governmental oversight of Real Estate Industry. As one can imagine, this opens the door to all types of opportunities for fraud or a scam. Thus, there are no licensing requirements for either of these two industries here in Costa Rica.

One of the things that you have to remember is that Costa Rica is a small nation and does not have the infrastructure to oversee such industries. So, there really is no easy shop and go for this kind of thing. We can’t teach you how to find a private investigator in Costa Rica, but following the next three tips will making find a reliable and trustworthy investigator an easier decision.

Second:

DO NOT SEND MONEY TO ANYONE INCLUDING A PRIVATE INVESTIGATOR THROUGH WESTERN UNION. It is well documented here in Costa Rica that the majority of scams are carried off by using Western Union. Especially if you are told to send it to another name, not the requestors.

Since Costa Rica does not offer any type of licensing for Private Investigators, anyone can literally begin to offer Investigative Services under any name. The same holds true for mortgage brokers, real estate agents, and other services that normally require licensing in the United States.

But, just because your investigator is not licensed in Costa Rica, it doesn’t mean that he’s not licensed anywhere else. Because Costa Rica is held to different standards, this means that if you get scammed, you won’t be able to come after your investigator. Always protect your assets when you’re conducting business with a company outside of the United States.

Third:

Before hiring a Private Investigator in Costa Rica, make sure that the investigator is qualified to complete the task at hand. Do they have a Private Investigator’s license in the United States? If so, they probably have a company as well.

Always request licensing information, if they don’t have one, ask for a reason as to why they don’t have one. If they came from the United States, ask for proof that they are still in good standing with the licensing department in the United States. Costa Rica is the land of the Wanted & Unwanted. Many people run away from the United States due to legal reasons. Is your private investigator fleeing the country due to unethical practices? You need to make sure.

Trustworthy & Reliable

Does your private investigator have an office in Costa Rica? If so, is the address a legitimate address, or is it a parking garage? Do they have a phone number where they can be reached easily? Will he provide you with a detailed billing of his work and expenses? Does he have a bank account, or will you have to wire him money?

Experience & Education

Do they have any certifications? Are they certified fraud examiners? Anyone can tell you that they have years of experience, but without any type of certification, this is hard to prove. The same holds true when they claim to have Federal Government background experience. How can you prove that? And does this mean that they were on the field conducting investigations, or were they in an office foreseeing investigations?

Experience is a very valuable tool, as long as you have experience in the right field. We have been offering investigative services for over 30 years starting in the United States. Our corporate office, located in Orlando Florida, is still operational in the states. But we don’t offer every type of investigation. We focus on the three main investigation services in order to guarantee quality control.

We hope that If you follow these simple guidelines, and take your time to interview your investigator, you’ll be able to find a private investigator in Costa Rica, and any other part of the world. These tips will save you money and frustration in the long run. We have found over the years that our clients are intelligent people who can recognize a pretender. Real investigators have the verifiable experience, licensing and training to carry out your objectives. if you want to know more please feel free to contact us at Cody L. Gear and Associates.

Don’t forget this tip: A good investigator will never hesitate to give you the information you’re asking for. Remember, you don’t depend on us. We depend on you.

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Costa Rica Real Estate Fraud