Canadian foreclosure purchase in Costa Rica property. A true story.

You've probably heard the stories of foreclosure properties in Costa Rica and at the same time, you've probably thought it more sales rhetoric. Well foreclosures in the Costa Rica property market are real and here is one story to support this.
By: Don G. Halbert
Feb. 9, 2010 - PRLog -- A few weeks ago, two dock workers from the Vancouver area came to visit Costa Rica on a short visit to this beautiful country. What started out as a regular holiday like any other, quickly turned in to an opportunity that could not be passed up.

Tobin and Darwin (as we will refer to them as) had no idea they would end up leaving Costa Rica after their one week vacation, as land owners.

Even though Tobin and Darwin had previously discussed purchasing investment property in the Caribbean, they didn't anticipate what was about to come their way in Costa Rica.

While vacationing in Costa Rica, Tobin was also taking the opportunity to visit with his long standing friend who happened to live in Costa Rica and at the same time, is involved in the Costa Rica real estate market. (

After the first couple days, Tobin was later joined by his work mate and friend, Darwin.  

Apparently Tobin and Darwin had previously discussed the possibility of looking around at some of the available properties and it quickly came up in conversation.

The following day Tobin and Darwin were shown an unlisted foreclosure property. The property was a five bedroom home in the fastest growing community in Central America...Perez Zeledon aka San Isidro del General.

After viewing the home and seeing the opportunity before them, they quickly began discussing a possible offer. The home had a previous 'unofficial' appraisal for 3x the foreclosure asking price. This made their decision a far easier one to make.

The day before jumping on the plane to return to Vancouver, Tobin and Darwin found themselves the new owners of some Costa Rica property (

Their plan is a familiar one.  Purchase the home at a low, paint it up and polish out the few kinks and then relist it on the market for a much higher price.  Something that is increasingly becoming difficult in the USA and Canada.

This home was purchased for less than what someone would spend for a 5th wheel trailer back in Canada which contributed to the buying decision.

They both now plan on 'flipping' this property and reinvesting in another and repeating the same path until they both have enough to buy a permanent home for themselves and move to Costa Rica from Vancouver in order to live the pura vida lifestyle ( that has become so famous.

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