The last time I was in Costa Rica I was approached about owning a timeshare property, but at the time I felt a bit skeptical that it would work out in my favor. I'm going to be back in that part of the world soon, however, and I would rather not let another opportunity pass me by, if it is indeed an opportunity I should take advantage of. Has anyone here ever purchased overseas properties? Was the red tape too much to bear, or did it work out to a good deal in the end? Never dealt with international real estate, especially timeshare, so I'm curious.

A time share arrangement is not property ownership. However, if you generally plan to go to the same place year after year at the same time and have no expectations of being able to resell it any time soon, it could be just what you would like. I think it would be better to buy from someone who is an owner who needs to unload it.

I second mayaphile's suggestion. Timeshares are hardly ever worth the trouble, although if you're set I would definitely look at the resale market first. Admittedly I've only dealt with them domestically but even that was such a headache I'm not looking to see if it's any better internationally. The seldom-told tale is that most timeshares cannot be sold at a profit after purchase -- they're like old cars you have to donate, only you can't donate timeshares either. I wound up needing a title transfer through Timeshare Relief when my options whittled down. I'm sure some others will tell you differently but that's been my experience.

Also, I'd watch out for Costa Ricans bearing gifts, to appropriate the old expression. If anyone is needing to approach you it can't be a great opportunity.

Exactly. Timeshares are never truly owned and usually can't be sold back for a profit. It's a rental- not a real investment. A better option is the condotel hybrid that is becoming popular now in Panama, and already exists in many other parts of the world. You can purchase a condo and all the equity that it builds is yours alone. And there is a hotel management institution readily in place that will rent out your condo as a hotel, whenever you are not using it. This eliminates the headache of actually renting out the unit, but it still allows you as the owner to receive additional income from your property.

Check out a promising new opportunity with the first condotel built on the Caribbean coast of Panama. http://www.balabeachresortpanama.blogspot.com/