MyPlace clients receive a free subscription to a monthly newsletter, called MyPlace Prime Foreclosures. Prime Foreclosures lists select foreclosed properties across Costa Rica. The MyPlace legal team enjoys an exclusive relationship with several banks in Costa Rica regarding disposition of foreclosed properties. As a result, MyPlace is able to provide exclusive access to these quality foreclosed properties to MyPlace clients. Each Prime Foreclosure property has been pre-vetted by the MyPlace legal team and identified as a foreclosure of only the highest quality with no known significant issues.
Each MyPlace Prime Foreclosures newsletter showcases a variety of property types – from luxury homes to apartments, from farms to condominiums and lots across Costa Rica.
Benefits of purchasing a MyPlace Prime Foreclosure property:
- The bank pays your closing costs
- In addition to being pre-vetted by MyPlace, the bank also has performed thorough levels of due diligence on each property
- Properties are valued by an independent assessment firm. And, each assessment is updated once every six months to ensure continual alignment with area property values
- The bank is liable for up to four years* after closing for any property flaws (similar to receiving a home warranty with purchase)
- Closings on Prime Foreclosure properties can be expedited since the banks are eager to sell
- The MyPlace team typically helps its clients negotiate a 20-50% discount off of the bank’s asking price
* term varies by property