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Frequently
Asked Questions for Grand View Estates (F.A.Q.)
Have the streets, water
and electricity already been installed?
Yes, we have
installed all the roads, utilities and water for the entire first phase of
the project. All lots are ready to be built on and the utilities
connected. This is not the situation on most other similar projects here
in Costa Rica.
Have the lots been
legally segregated and ready for sale?
Yes, and this
is a very good question. There are many Governmental Departments involved
in making a housing development in Costa Rica. MINAE, I.N.V.U., SETENA and
the local municipalities are the government organizations in charge of
overseeing development projects like Grand View Estates. Without their
approval it is illegal to sub-divide your land into parcels and have a
development. Once you have their approval you can start the segregation of
the land according to the governing laws of these institutions. Unlike
most other developments, we will provide a “Plano” to your property that
will include a stamp of approval from all departments needed to make a
legal sale here in Costa Rica. Recent articles in the Tico Times that I’m
quoting have put the number of illegal (without proper permits)
developments as high as 80% in the Guanacaste area.
What does the tour
cost? There is no
cost for our tour service of picking you up from your hotel and showing
you around the development, buildings and beach. Tour reservations will
be coordinated with you once we have a signed an Option to Purchase
Agreement with us.
Are you selling
anything other than lots? Any construction?
Definitely. GVE is a full service developer in Costa Rica. We're currently
doing residential and commercial projects in Costa Rica. We have all the
Architects and Engineers ready in CR. Clients can have plans made in the
states but MUST bring the AutoCAD file of the plans with them to CR and
have them converted into Spanish, meters and other details before they can
go to the Engineering department for approval. We will also be offering
model homes and pricing on the “Construction” link of our website
very soon.
Is there a time period
that’s necessary to build on the property?
Yes, the time period for building on your lot is 5 years from the time of
signing your contract.
What type of penalties
will be imposed if the 5-year time period has lapsed?
There is a Board of
Directors representing the Bylaws of the community. The board members are
the ones that
make the governing decisions and decide what will or will not happen at the time
of a problem. I'm not an attorney here in CR, but I am currently the
President representing the Board of Directors on the rules and regulations
of the development. If the owners are paying maintenance fees and taking
care of their property (not putting trash on it, etc…) on a regular basis
it would be hard to impose any kind of restrictions at this time, especially if the owner is not using the lot for anything other than what
the development was based upon. The rules are simply put in place to
protect the development and neighbors so
that it doesn't turn into a trailer park or land that will be used for
storage or anything other than a housing community. As time goes on and
the Board may make changes to the rules and regulations, I would imagine
there will be voting on what's going to change or not change. What I can
tell you is that there will be no type of penalties or restrictions for
the next 5 years on your lot from the time of purchase, as long as the
Rules and Regulations of the community are followed. If after 5 years
there was to be some type of penalty, the harshest penalty I could assume
would be the loss of all rights to the "Common Grounds" (the Community
Pool center, Security, Trash, Gardening, etc....). But if a person is not
using their property in an improper fashion or it's not an eye sore for
the rest of the community, I can't see the Board doing anything. My hopes
are that the community will be
one family and everyone will know everyone.
Can the closing costs
be rolled into the loan amount? This
depends on if you plan on putting more than 35% down on the property. If
so, we will include closing costs into the purchase price of the property.
How much are the
complete closing costs on purchasing?
Including Stewart Title Insurance on the property, the costs are
approximately 4% of the sale price. A break down of these fees can be found on our website
or by clicking here
Closing and Transfer costs.
What are the property
taxes like? Property
Taxes are approximately $15.00 (fifteen) annually. They are paid at the
local municipalities of Siquirres and if you miss a year or two, it's not a
problem. The law says you need to pay your taxes yearly, but
most people here pay when it's good and convenient for them. In other
words the local municipalities are very relaxed when it comes to these things.
Are there any monthly
or Yearly HOA fees? Yes,
HOA fees will start June 1st, 2007. The fee is $50.00 a month.
Iif
you have a house built on the property the cost goes up to $125.00 a
month. Click here for a copy of the CCR's for the project
http://www.grandviewestatescostarica.com/CCnRandBylaws.htm
I have heard that there
is a big problem with squatters settling on people's land and eventually
taking the land over. How can we be guaranteed that we will have no one
settling on the land since we live outside of Costa Rica? Generally
squatting issues are on "Concession" land and not on "Titled" property.
This being because concession land which makes up approximately 98% of all
Coastal property in Costa Rica and is owned by the government, not the
people. Concession is basically a lease of land from the government and it
makes it very easy for anyone to come in and make claim to property,
(squatting) that is not being taken care of or one is has not paid taxes on
for the past 7 years. In the case of Grand View Estates, being a private
gated community with 100% titled property and 24 hour security. It's quite
impossible to have any type of squatter situation. Impossible.
I have been to CR more
than two times and am familiar with this area. Do I have to take the tour
before purchasing? NO,
we've arranged where clients can talk directly with our attorneys here in
Costa Rica to make their property purchases abroad without coming back to
Costa Rica. However, the next time that you come back to Costa Rica you
will need to pass by the attorney’s office and sign the same documents
again to finalize the purchase according to C.R. Law.
Do you know what the
government requirements are for US citizen’s maximum length of stay in the
country? US
citizens that enter under normal conditions have 90 days maximum to stay
in the country. There are several programs in place to obtain temporary
residency so that one doesn't have to leave the country at all. If you are
a NON-U.S. resident you would need to check with the Costa Rican consulate to
be sure of what conditions or restrictions apply to you.
What are the
restrictions to building a house if we choose not to go with the models
offered?
This is described in detail and indicated in Chapter Three of the CCR and
Bylaws
http://www.grandviewestatescostarica.com/CCnRandBylaws.htm
Are any of the lots in
a Flood Zone?
Absolutely not, not one of the lots in the project are in any type of
flood hazard, even if a tsunami hit we wouldn’t have flooding in the
project. The average elevation is around 1000 feet and all the lots are
partially slopped with all the proper drainages already in place.
Construction process, design, costs, modifications, warranty?
The construction process is entirely up to the
client on who they wish to use on overseeing or building there dream
home project. The model homes that we have listed are offered to give you
an idea of what we have available as a fully customizable design for a
house on GVE. The prices we have quoted are for turn key construction of
the house, complete with supervision until the project is finished. It
does not cover the costs associated with grading (depending on home,
location and project), landscaping or any additions that you might want to
add on the house. The Architectural plans of the homes are fully
customizable to the owners specifications. Of course depending on what
changes are made to size, materials, fountains, etc. this might affect the
price and can only be determined during the design process. Our home
construction comes complete with a 1 year limited warranty on construction
and materials.
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