The Banco de Costa Rica (BCR) announced on Apr. 2 that it is offering several repossessed homes for sale, with prices starting at ¢8 million, discounts of up to 35 percent, and financing options covering up to 100 percent of the purchase price.
This initiative gives buyers access to affordable housing in various regions across the country. The properties come with different features and are available under specific conditions set by BCR.
Among the available listings is a house in Chacarita, Puntarenas priced at ¢8,002,150 after a 35 percent discount from its initial price of ¢12,311,000. This property has three bedrooms and one bathroom but must be purchased in cash and requires the buyer to arrange electrical service. Other properties include houses in Líbano (Tilarán), Upala (Alajuela), Guácimo (Limón), Golfito (Puntarenas), and Guápiles (Pococí). Discounts range from five to thirty-five percent depending on the location and condition of each property.
The bank outlines a six-step process for acquiring these assets: identifying a property of interest; downloading an offer form; reading process conditions; completing the form; signing and preparing an envelope; then submitting it at BCR offices. Sales can be conducted either through competitive bidding or directly.
Financing terms include loans covering up to one hundred percent of the value for residential purchases over periods as long as thirty years. Interest rates start at eight percent for loans in colones or according terms in dollars. Buyers may also finance up to eighty percent of improvement costs, while formalization expenses such as appraisals are waived.
All sales are governed by BCR’s Adjudicated Property Sales Regulation which requires technical appraisals as a basis for pricing and allows discounts to facilitate transactions. Offers must be submitted using official forms—these can often be sent electronically except during competitive bid processes.
Those interested can request more information by phone or email or visit BCR’s central offices. A full list of available properties is published on their website.
