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I guess I would say we would buy a home so would not have a mortgage to pay. We would have the added expense of a child in an international school. We would like to have satellite TV and internet service and would need international insurance. We would probably need 2 cars unless we could find a house close enough to our son’s school and town. I expect we would live close to the beach. We would like to travel home to US 3-4 times per year. Sometimes we would like to travel within Costa Rica/Central America and also eat out at restaurants once in a while as well as buy some premade foods and things for convenience. I like to Scuba Dive but really don’t have any other expensive hobbies. Most of our entertainment would come from natural exploration and socializing. I am not a collector of “things”. If we were working a lot we would need a nanny/housekeeper and perhaps a gardener. I have read a lot of the articles you talk about but many of them are rather vague and not descriptive as to how people are living, what they are doing etc. I would love to hear from individuals that describe what it is like, what they are giving up and how they are living.
Are you still there? If not, what made you leave? How did you educate your children? We have a 4 year old and would love to live somewhere that would belp him grow up Bi-lingual.
Koty
We have not yet got our deposit back. We requested it one week ago. Just an FYI. I will keep you informed.
Koty
Thanks. We dont necessarily need “Gated” but would like some contacts as to how to secure our place and have it looked after when we are gone. We do not “YET” speak Spanish but are trying to learn and this has set up many roadblocks to having our own place. We love Hermosa!
Koty
Its kind of south east of siquirres and by the maps it looks like it is on the ridge overlooking the ocean (sort of a topographical map detailing the terrain). It is supposedly about 1/2 hour to the ocean. I am sorry but I do not have the exact location/elevation. the website is http://www.gvecr.com. I thought I read somewhere the elevation was around 1600.
THANKS!
Koty
Thanks, that was a great explanation. Not too many talk about that part of the country. Can’t wait to go again!
Koty
I would like to confirm that what Bob said is true and what I felt I made clear in my initial post. We did not have a signed contract only a verbal/written one that both parties agreed to. We unfortunately assumed that this was enough and intended to sign the contract and hand them the first installment/deposit in person when we go down in November (timing of this was ok’d verbally). As Bob pointed out, not getting this in writing is our mistake. Also, I think he is an honest person and he says that all is well with his communities. I may have unintentionally made some assumptions that were incorrect based on the information I had and assumed that his sudden change with us was due to something going wrong with completing the infrastructure or with the project. I honestly could not imagine what else could have caused the sudden change of heart. I did not intend to hurt them in anyway and only wanted to find out if others had experienced the same difficulties or get some information about what was going on. I felt I answered all questions honestly. I hope that this little exchange gives them some extra exposure. I do wish them the best of luck and will be curious to see how they are doing when we go to CR in November. Also- of course I will re-post when they refund my deposit we sent for holding the lot. You have my word.
Koty
Interesting. We put down money for a lot with elevation and agreed to pay more for it. Unfortunately, they now said that they had to bulldoze it down to the bedrock (due to earthquakes) so the elevation is gone and the back of the lot will now look out on a retaining wall (which they also said they had to charge us an additional $7,500 for). You must of been one of the lucky first ones that could send them the capital they needed right away to start the project and chose a lot with few problems. Good for you! Their inconsistency between clients and difficulty doing what they agreed to do verbally scares me a little, but I guess they did what they needed to get the project funded and now are doing what they need to cover their additional and unforseen costs. I hope they will be refunding our money but I bet not until they are able to sell a few more lots as they used their down payments to develop the infrastructure and quite a few people appear to asking for their money back. We are still interested in the development but these changes they have made have scared us off. Good luck to you, am sure you will have a beautiful house soon. We have learned a lot such as, make sure the plat is completed and the lots have been created before putting money down as you never know what is under the earth until you try to move it. So, now we will once again be going to CR to look at property for building.
Koty
I think we have decided to pull out. Our lawyer had found quite a few signficant holes in the contract that put the buyer at risk if they were unable to fullfill their part of the contract or were unable to supply proof of title for the land. We had a verbal agreement to make these changes and then (one month after we agreed) they changed their mind. When I spoke to Bob on the phone he sounded very frustrated and actually said he wanted out of the project. I would imagine their business is quite up and down and could get very frustrating at times when things are delayed. I know they are having trouble getting the roads in and electricity installed and customers are demanding they fullfill the timelines they promised them “or else”. I guess I am glad we found out about their issues now. They said they will refund our deposit. I really do feel they are honest just poor communicators and perhaps too optimistic regarding what can be done when.
I think they are in over their heads. In fact, since my last posting they have come back and totally undone a verbal agreement (written up in the form of a contract and verbally agreed to over one month ago) they had with us. Part of the problem may be the Sales manager they have hired who I feel is not a very good communicator or is very unorganized. Also, I think they made quite a few promises to investors regarding getting infrastructure completed and they are now feeling the pressure of not being able to perform. I think this goes to inexperience and making promises to American investors that expect timelines to be met by American standards and not realsitic about Costa Rican issues and time lines. (we really tried to be flexible but because of a lack of communication between the sales manager and the owners they suddenly backed out on a verbal agreement. Actually, I think because of lack of organization they were confused with our contract and another persons demands and suddenly they put us into the “bad clients file”!) Its unfortunate because I truly feel they are honest and hard working and genuinely trying their best. However, as I sit and think about it, it makes me worry that these honest guys who simply want to make a few bucks so they can retire and surf may just get out of the “game” because it is too much of a bother, a headache and unhealthy. According to their contract ( as outlined by our lawyer) this would leave quite a few investors with property that is worth much less than they paid because part of its worth is the promises that went with it. To be fair, though, my gut feeling is that they will try to fullfill their promises because they have integrity. I just hope they are not too jaded by others who have taken advantage of people and the “slow’ legal system in Costa Rica. I think the property in Esterillos is beautiful and feel that the community will be eventually completed. We simply need better communication between a builder and ourselves and will probably not agree to go ahead with our plans. Very disappointing to us as we have invested quite a bit of money (through legal fees and time on our part) and emotional energy to completing a house that we can come home to. AAH but, maybe the forces of the universe are working to come up with a better plan for us and our future in Costa Rica. (said with tongue in cheek….somewhat).
Oh, sorry I think I made a Freudian slip. That would be Esterillos not Esteril-lose. Seriously, I just read what I wrote and I made that slip. funny huh?
My husband and I lovingly call Costa Rica the “Land of Misfit toys” ( for those of you who need an explanation watch Rudolph the Rednosed Reindeer). We have met many people there, too, who seem to be searching for something, you know, the later in life divorced male, people who do not fit the mold, others who have “escaped” and that is not always bad. Heard many a story of people who are trying to escape “something” and it is not ALWAYS the law. We love it and enjoy the interesting people we meet. Maybe we are misfits too????
Thanks Scott, I know the issue is very confusing. I just have to wonder, with all of the beachfront properties that are being sold there has to be other people out there who are in the same situation that we are. Basically, that we own the rights to a piece of concession land but no building permits are being issued due to a case in the court system between two regulating agencies who want to have rights to grant concessions and thus building permits. I know I saw an article this spring about the issue in the paper because it is losing a lot of tax revenue for the country as this case is being decided. Local municipalities are not collecting the taxes they could if concessions were granted and people started building. Ok, if anyone knows anything or has heard anything let me know. The whole thing is teaching me all about patience.
Koty
Cool! we will be there over the weekend! I love open markets. maybe we will change our mind on our investment and go for the east side! any other advice would be appreciated. i find this kind of input better than anything in the guide books!
Koty
