Typical stages: offer and reservation, option or purchase agreement, due diligence, escrow, closing before a notary (transfer deed), payment of taxes and registration in the Registro Nacional. Ownership against third parties is protected once the deed is registered. Note: in Costa Rica, the buyer often chooses the notary, and one notary can execute the deed for both parties.
due diligence
Investigation of a property's legal and physical condition before purchase.
“Due diligence revealed a lien.”
title
Legal ownership of property, or the document that proves it.
“The seller has clear title.”
escrow
A neutral account holding funds until conditions are met.
“The deposit is held in escrow.”
closing
The final step where the transfer is signed and paid.
“Closing is scheduled for June.”
National Registry
The public registry of property and companies (Registro Nacional).