If you need an appraisal in Costa Rica but don’t know which type, this guide helps you decide in 3 minutes. Instead of explaining by type, we group them by real situation. Find yours below.
Quick decision tree
What do you need the appraisal for?
- For a bank (mortgage loan, machinery-secured credit) → Real estate or machinery appraisal
- For a court (divorce, contested probate, litigation) → Judicial appraisal
- For Hacienda or municipality (inheritance, donation, Solidarity Tax) → Tax appraisal
- For an insurer (policy or loss event) → Insurance appraisal
- For a probate (notarial or judicial) → Probate appraisal
- For buying/selling a property → Real estate appraisal
- For IFRS accounting revaluation → Tax or machinery appraisal
- For machinery or industrial equipment → Machinery appraisal
Comparative matrix of the 6 types
| Type | Accepted by | Typical timeline | Appraiser must be in |
|---|---|---|---|
| Real estate | Banks, notaries, private | 5-10 days | CFIA |
| Judicial | All courts | 7-15 days | CFIA + Judicial Branch |
| Probate | Notaries, courts, Hacienda | 7-14 days | CFIA |
| Tax | Hacienda, municipalities | 5-10 days | CFIA |
| Insurance | INS, MAPFRE, ASSA, others | 5-10 days | CFIA |
| Machinery | Banks, IFRS auditors, insurers | 5-20 days | CFIA |
Common cases — with real examples
Bank case: I’m getting a mortgage loan
Type: Real estate appraisal.
What the bank requires:
- Report signed by CFIA-licensed appraiser with incorporation number
- Methodology: market comparison (primary) + cost (complementary)
- Cadastral plan + registry study attached
- Property photographs
- Validity: maximum 6-12 months (varies by bank)
Reference CR banks: Banco Nacional, BCR, BAC Credomatic, Scotiabank, Davivienda, Promerica, Lafise.
Court case: I’m going through divorce with assets
Type: Judicial appraisal (family court).
Particularities:
- Judge may appoint the appraiser, or each party proposes one
- Report must withstand cross-examination — more extensive than a commercial appraisal
- Appraiser must be registered with the Judicial Branch Expert Registry
- Appearance at hearing if judge requests
Legal framework: Family Code (marital property liquidation), Code of Civil Procedure.
Hacienda case: inheritance transfer
Type: Tax appraisal (in parallel with probate appraisal if applicable).
What Hacienda requires:
- Defensible technical market value
- References to National Registry comparables (auditable)
- CFIA signature and clear date
Avoid: using municipal cadastral value (usually outdated, Hacienda rejects or adjusts upward with penalties).
Insurance case: taking out policy or post-loss
Type: Insurance appraisal.
Key difference pre vs post:
- Pre-policy: replacement value + actual cash value → basis for insured amount
- Post-loss: damage quantification + cause-and-effect
CR insurers: INS, ASSA, MAPFRE, Oceánica, Pan American, Qualitas, Adisa.
Legal framework: Law 8653 Insurance Market Regulation.
Probate case: family member passed
Type: Probate appraisal.
Critical particularity: in judicial probates, retrospective valuation as of date of death applies, not current value. This requires researching comparables from that specific period.
Common cases:
- Testate probate (with will)
- Intestate probate (no will)
- Voluntary partition among heirs
Buy-sell case: buying or selling
Type: Real estate appraisal (no additional legal component).
Useful for:
- Negotiating with information (not overpaying, not underselling)
- Supporting the declared price before Hacienda (avoiding future adjustments)
- Comparing against realtor listing
IFRS case: corporate revaluation
Type: Tax appraisal (for real estate) or machinery (for operational assets).
Applies:
- IFRS 16 — revaluation of property, plant, and equipment
- IFRS 36 — impairment testing
- IFRS 5 — assets held for sale
External audits require CFIA appraisal with reference to official depreciation tables and accounting close date.
Machinery case
Type: Machinery and equipment appraisal.
Three values reported:
- Market value: probable price in normal sale
- Replacement value: cost of equivalent new equipment today
- Forced liquidation value: price at auction or rapid sale
Uses: bank collateral, IFRS, insurance, buy-sell, import.
Common mistakes when choosing type
-
Hiring a real estate appraisal for a lawsuit — courts require more robust format. Hiring a cheap “commercial appraisal” for a lawsuit typically results in the judge rejecting it or being successfully challenged.
-
Using cadastral value for Hacienda — rarely matches actual value. Hacienda may adjust with penalties.
-
Post-loss appraisal without inspection within 72h — insurer can question damages that have already been altered.
-
Hiring an appraiser not in the Judicial Branch for a court case — their report can be presented but has less evidentiary weight.
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Asking for “just the value” without complete report — useful for private discussion but not for formal procedures.
FAQ
Can the same appraiser do all 6 types? Yes, if CFIA-licensed and experienced in each area. A generalist CFIA appraiser usually covers real estate, probate, tax, insurance. For judicial, additional Judicial Branch registration is needed. For specialized machinery, specific experience.
Can I use the same report for two purposes? Sometimes. Example: a recent real estate appraisal may work for bank and for declaration before Hacienda if both procedures are close in time. Not always — consult with appraiser by case.
How much does each type cost? Depends on asset and complexity. Judicial appraisals are usually more expensive (30-50%) than commercial appraisals due to evidentiary responsibility. See reference ranges.
What’s the difference between “avalúo” and “peritaje”? In Costa Rica, “avalúo” usually refers to the valuation of a specific asset. “Peritaje” is broader — includes the complete technical investigation resulting in the appraisal. Terms are used almost as synonyms in the market.
Conclusion
The right appraisal depends on the purpose, not the asset. Before hiring, define: who will accept the report? (bank, court, Hacienda, insurer, notary). That determines type and format.
Díaz Peritajes offers all 6 types with nationwide coverage from Pérez Zeledón and Curridabat. Over 20 years of experience. Free quote — WhatsApp +506 7272-7270.