Hi. This is Robert from The Oaks Tamarindo again. Today I would like to talk just a little bit about the purchase process, how it works, and kind of the different paths that you can take.
We try to make it as easy as possible but not too easy and the way that we make it not too easy is that we insist that you choose your own notary.
We do not choose the closing agent because we think it’s very important that the notary who is a combination of attorney and actually a person who does the legal documentation is chosen by the buyer because we want you to have confidence that you have selected a professional and that that professional is representing you and we have no problem with that.
I have closed over 85 units here at The Oaks, so I do have some experience doing it. With that experience, I can avoid the mistakes that I made on the first 10 or 20 closings and with that experience, we know how to make it easy and we also know how to avoid excess closing fees.
So we will consult with you, the buyer, and then we will consult with your attorney and notary and through that, we can create a closing process that is logical, straightforward and quick.
Now, for a closing process to be quick, it needs to be simple and one of the great things about the Costa Rica legal system is that it’s not like the United States legal system and that for I would say 99 percent of the cases, you don’t need title insurance.
So that’s going to save you a couple of thousand dollars off the top. I will let your notary decide that for you but that’s just a tip from experience. Beyond that, the closing process itself is extraordinarily simple.
You put down a deposit. The deposit is either with me if it’s not very large or it’s with an escrow agent. We go through a pre-closing due diligence checklist. We do a pre-move-in punch list and then we close. Some people want the flexibility of owner financing, of seller financing. Who are they?
One recent example is an American who is going through a divorce. She could not qualify for a traditional loan either in Costa Rica or in the United States, but I knew from experience that she would get money and I was willing with a good down payment to take back seller financing, let her pay back the principal whenever she felt like it, up to a maximum of five years, and after two years, she has paid back most of the principal with no pre-payment penalty.
The other advantage of seller financing is that I offer a lower interest rate than a Costa Rica bank will offer, but a higher interest rate than a US bank will offer or a Canadian bank.
So I will right off the bat just as a matter of good business for myself offer five percent interest-only loans for 5 years with 50 percent down and I will negotiate the 50 percent down but not a lot depending on the circumstances of the buyer and my knowledge of your needs and your cash flow.
Now, I will tell anyone who asks that The Oaks is the best value that they can find under $200,000 and so it is. If you look at the construction and if you look at the grounds and if you look at who your neighbors are, you will know why.
Buying Your Condo At The Oaks Tamarindo – “Possibly the best value condos in Costa Rica under $200,000.” Scott Oliver.
As the founder of WeLoveCostaRica.com for over ten years my primary goal has always been to save our VIP Members time and money by investigating projects for you so you don’t end up having another painful and expensive “learning experience.”
The developer of The Oaks Tamarindo, U.S. citizen Robert Irvin is an experienced developer with a proven track record of building quality real estate in Costa Rica and, it’s important to note that this is not a project in pre-construction, The Oaks Tamarindo is a totally completed, debt free project and I feel very comfortable recommending it and I know that Robert Irvin will do his best to ensure you are 100% satisfied with your real estate investment at The Oaks Tamarindo.
For More Information About The Few Condos Remaining For Sale At The Oaks Tamarindo.
For more information about buying or renting a condo at The Oaks Tamarindo or more details about the developer financing then please help us to help you by using the simple form below:
Article ID Number 5292
Written by Scott Oliver, author of 1: How To Buy Costa Rica Real Estate Without Losing Your Camisa, 2: Costa Rica’s Guide To Making Money Offshore and 3. ¿Cómo Comprar Bienes Ra’ces en Costa Rica, Sin Perder Su Camisa?
Are you into beautiful Costa Rica?
All interesting things you want to know about Costa Rica are right here in our newsletter! Enter your email and press "subscribe" button.