|
|
|
Tierra Verde Uvita FAQs
-
The Loan
What are the terms of the loan?
I read 50% down and the rest in 12 payments with no interest - can this be
changed?
We can do lot financing at Tierra Verde
50% down, 50% paid in 1 year, no interest
Please note: There is some flexibility here, depending on price point of a lot. There is also flexibility in the event of a multiple purchase, perhaps two or three lots at once.
Who is backing the loan?
We back the loans, we own the property and all infrastructure outright. There is no lien on the property.
Can we include the price of building a house in with the property loan?
No – we do not finance construction, however, we can give the contact information for banks and they can you help you find out how to do so or we suggest you utilize home equity from your home in the states which carries a tax deduction on interest payments.
What are closing costs?
The average closing cost in Costa Rica is 3.75% which includes closing stamps, attorney fees and transfer fees.
What this doesn’t not include is Title Insurance or a corporations. Title Ins is an average of 1% and new corporations are average of $500.
-
Taxes
What are the property taxes with and with out a house?
Property tax with our with or without a house is .25% of the property and house value.
Any other taxes that we should be aware of?
No
-
Legal Information
Should we get an international lawyer to help in the process of buying?
Yes, There are as many lawyers in this country as there are Realtors! You can get a referral from us or do it on your own. Cost is typically .25% of purchase cost for legal fees.
What rights do we have down there as American homeowners?
Purchasing land in Costa Rica is similar to that in the United States, including the right to have a title on your property. By utilizing a qualified attorney this process is simplified and you can be assured that you are buying property that is unencumbered and that all documentation and filings are handled correctly.
-
Builders
I see that you have plans for some of the lots. What is the cost for the different homes?
We have several custom home plans which are ideally suited to take advantage of view points and lots layouts, and fit well into the TV community. If you wanted one of the plans we would include them in the lot purchase, saving you money. We also are able to help build your home next year with our crews and work side by side on your own details and design.
Can the plans be altered and at what cost?
The plans can be altered at a reasonable cost, approximately $500.
What is the typical building cost?
Building costs are ranging from $85 to $110 a square foot. This depends on terrain, finishes and details.
Typically how long does the building process take?
Approximately one year if you utilize one of the house plans we have.
-
The common expenses/HOA
Who sets the yearly/monthly dues and what will the dues include?
HOA cost will be about $1500 a year. To include road maintenance, full time guard and common area clean up.
How often can the common expenses be raised?
This is a yearly fee. During the first 2 years of operation we will refine the operations and at this point we do not estimated it will increase more than 20% in any given year.
Who is in charge of the common expenses/account?
Matt Hayden and Geoff Nolan – Owners of TV
Ben Morris (Tierra Verde Project manager, Landscape architect in the US and has lived in Costa Rica for five years)
Is the security year round, what does it entail, and is it included in the common charges?
Yes and Yes.
-
The surrounding areas
Are there any other developments in the surrounding area?
Yes, there are other developments, however, only a few are true community designed and implemented. Most developers subdivide the property and make as many lots as possible without providing power and water… basically selling land without any infrastructure, guidelines (CCR's) or design details to make a community. Because of the dramatic geography of the land, existing developments are tucked into the mountains and hard to spot.
What is the surrounding area like?
Tierra Verde is located in the Southwest Pacific region and can best be described as a place “where the Rainforest Mountains meet the ocean.” All the beaches are still extremely uncrowded, breathtaking and a place where nature abounds at every corner. Tierra Verde has 24-hour guardhouse at the front entrance. Natural borders such as rivers, natural reserve or mountains enclose the rest of the property. As for 'developments,' purchases have been very active in the Uvita/Dominical region, due to all the infrastructure that's in place (ie. New Southern Zone International airport to be built in 2010, extension of national highway, new hospital being built etc., banks, grocery stores, gas and service stations). I've attached an article which details the infrastructure in place for the Southern Zone of Costa Rica and provides support for this is a great investment at this point in time (pages 1&4).
Local Shopping
Uvita, where our properties are located, is a 10-minute drive south from Dominical. Dominical is a quaint fishing, surf are located on a Palm Tree lined beach (see picture attached) which has local shops, restaurants, and a nightlife. Also, Dominical is an extremely good beach-break for surfing, some say one of the best in the country. The entire Southern Zone of Costa Rica boasts world-class fishing. (Refer to www.TierraVerdeUvita.com and click on Links for complete activity info)
Amenities? Local Hospital/MDs?
In Uvita a new town center was recently completed which includes all the amenities and necessities you will need to live comfortably is conveniently located 5 minutes from Tierra Verde. A Doctor office, four new supermarkets, three national bank, furniture store, hair salon, dentist, service station, service center, restaurants, Veterinarian among many other things make this area one of the best beach towns in Costa Rica. The coastal highway hugs the ocean and is in excellent shape. 30 minutes from TV is the newest Hospital in Cortez recently open in April of 2008.
Costa Rican Government? Crime Rate? Poverty level?
The government of Costa Rica is democratic and the most stable in Central America. Many government policies are considered to be shining examples for other Latin American countries including their national parks, healthcare system and educational system. 'Ticos', as Costa Ricans call themselves, are generally friendly and gracious, helpful and hospitable people with an uncanny ability to understand even the most fractured Spanish, the official language of the country. Many Costa Ricans, especially those working in tourist and service related fields, are bilingual. The towns of Dominical and Uvita are filled with nothing but gracious smiling people that love their country. Definitely an island vibe going on down there. You don't need to live behind bars in Costa Rica, especially in the Southern Zone. The jungle surroundings and mountainous terrain keep crime very low and help to maintain a peaceful way of living. Crime that does take place occurs more often in San Jose (Capital) and Guanacaste (North).
Among Latin American countries (20), Costa Rica ranks 4th in terms of the 2007 Human Development Index, and 48th worldwide (out of 195). Costa Rica is ranked 5th (out of 195) in the world in terms of the 2008 Environmental Performance Index, up from the 15th place in 2006. In 2007 the government of Costa Rica stated that they want Costa Rica to be the first country to become carbon neutral by 2021.
Óscar Rafael de Jesús Arias Sánchez (born 13 September 1940) is the current President of Costa Rica, and won the Nobel Peace Prize in 1987 for peacefully disbanding civil conflicts between many Central American countries.
Costa Rica's poverty rate fell almost 4% to 16.7% in just one year, according to the Home Poll 2007 realized by the National Institute of Censuses and Statistics (INEC). This was the biggest fall in 15 years. Overall, there was an increase of 19% in salaries throughout the nation, suggesting that the new jobs that are coming to the country are better paid. Many of these jobs were in the commercial, hotel, restaurant, construction, financial advising and real estate industries.
There is a dentist and doctor located 5 minutes away from Tierra Verde in Uvita.
Any local government web site that we can check out?
-
Weather?
Hot during the day, cool ocean breezes at night. Rainy season June - November rainiest in Sept and Oct.
Temperature: warm and humid year round, average temperature: 83°
I slept with a blanket at night. Winds that blow from the mountains provide natural AC.
Do big storms hit the area?
The short answer is no. Hurricanes that form typically take a northern track, normally leaving Costa Rica unscathed. There have been fluke hurricanes in the past which have brushed the coast, but it's a rare occurrence. There is a rainy and dry season. The rainy season lasts from late June to December. Does that mean it rains everyday during those months… No. You might get rain every night or a cool rain in the afternoon or no rain for an entire week. The 'dry' season in the Southern Zone (Uvita) is far from dry. Being that Uvita is predominately rainforest, it remains plush and green all year long. On the other-hand, the Northern Zone (Guanacaste) experiences no rain for months on end and gets desert dry during their dry season.
-
Insurance?
Is housing insurance like here in the states?
Yes. Once we get into the specifics and qualify your interest, I will refer your family to our go-to Insurance specialist (Erick). If you’d like to get a jump-start and have specific questions, you can email Erick Fallas (email address provided below).
INS (Instituto Nacional De Seguros)
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
|
|
|
|
|
