The general custom is for the Buyer and Seller to share equally in the closing costs. This can be modified by agreement and usually depends upon the particular transaction. Closing costs containing the notary fees are, based on the real sales price, 1.5% from the first one million Colones, the local currency, and 1.25% on the balance.

Further, the transfer land tax, legal fees, and miscellaneous fees are about 2.78% of the declared value of the property. For the purpose of lowering the property transfer land tax, it is a common practice to lower the gross amount paid by declaring a much lower sum than the actual sales price. Be aware that acting in this manner could cause complications in the future. As always, it is recommended that you consult a lawyer about closing costs before buying property in Costa Rica.