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The developers I personally recommend on WeLoveCostaRica.com are experienced developers with a proven track record of delivering quality real estate.
I may be mistaken but this developer/project is a fairly new one and not one of the developers we presently recommend.
Scott
I have no personal knowledge of this development, but as always I caution you not to believe a word you’re told. Unless and until you have checked each and every fact yourself, or had [b]your own[/b] professionals check the facts, don’t commit a colon.
If owning the land free and clear is important, have your own attorney check it thoroughly. If having utilities (water, phone, electricity, Internet) are important, verify their availability with the providers. Have whatever land you’re interested in surveyed by a surveyor [b]you[/b] choose.
Don’t fall for a friendly but slick sales presentation and don’t believe a word the salesperson says ’til you check it yourself. If they say, “That’s the Pacific Ocean over there.” and that’s important to you, check it out. Too many people have been burned by slick presentations of (non)fact, and there is virtually no recourse once you learn you’ve been lied to.
I dont think I will get much disagreement when I state that too many people come to Costa Rica looking for “a deal” and not enough take the time to perform due diligence. That having been said I would offer the following in context of forum decorum; declaring myself as an expert as the world’s foremost authority on my opinion.
Do not buy on the basis of one person’s recommendation or lack thereof. With all due respect to backgrounds, experience and expertise ask anyone who listened to Jim Kramer in the last few years.
If you cannot view the property without a “good faith” deposit in place, RUN do not walk away.
Preconstruction is not a bad thing having been around a very long time. In Costa Rica as anywhere,knowing who the technical team behind the project is tells a big part of the story. Legal, Engineering, Accounting etc. How much has already been invested in the development? It’s one thing to take a small finca and cut in three pieces. Its another to Master Plan 600 acres. If there is any mystery here, refer to the previous paragraph. Larger developments need SETENA approval and will have accountability to INVU and MINAE (sp?) as well.
Compare. Really compare. In many situations price increases are actually “forced” appreciation not couched in reality in direct comparisons to like properties.
Spend time in the area that you are looking in. Not hours.
You are supposed to like where you live, right?IF owning the land free and clear immediately is important than preconstruction is NOT for you. No developer on any sizable scale (in and area similar to the one you are referring to)can any more afford to deliver all vital services, get folio numbers etc. than can they build a condo tower in the US without preconstruction sales or an enormous balance sheet. You need to understand the sequence of events, have confidence they are going to transpire and be willing to wait. In exchange you are supposed to get equity by way of under market pricing as well as a leveraged asset.
Good luck.
This is the same dude who has another development here in Grecia. The good news for the developer is that four of ten lots have been sold, the bad news for the buyers is that “no hay agua” (there is no water) and the local water system says they have no plan to make it available.
[quote=”john”]This is the same dude who has another development here in Grecia. The good news for the developer is that four of ten lots have been sold, the bad news for the buyers is that “no hay agua” (there is no water) and the local water system says they have no plan to make it available.[/quote]
I am the owner… interesting you are privy to info that no one else is. We have received approval for water from AyA in San Jose. And all but two of the lots are sold. Perhaps you should be a little more careful what you write and get your facts straight. This also implies that there is no water in San Mateo which is also not true.
Visados are available with purchase and there are now four homes built there and ALL have water and power.
I agree with others…be careful, confirm and make sure that you get what you pay for.
Randy[quote=”Scott”]The developers I personally recommend on WeLoveCostaRica.com are experienced developers with a proven track record of delivering quality real estate.
I may be mistaken but this developer/project is a fairly new one and not one of the developers we presently recommend.
Scott[/quote]
Scott has known me for seven years and I contributed to his second book. He knows that I have been building and doing developments for the past four years. He may not know that this is my development, but he knows that I am not “new”.Quote: [i]”Scott has known me for seven years and I contributed to his second book. He knows that I have been building and doing developments for the past four years. He may not know that this is my development, but he knows that I am not “new”.”[/i]
Mr. Scott has done his homework (LOL)….. maybe the “source” of this [i]misunderstanding[/i]…..
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