[philipbennie]

Thanks for all the helpful comments

[philipbennie]

As I read it Diego’s article advocates that people should not participate with rules and regulations and to follow a policy of non cooperation with the Costa Rican government, including the non-payment of taxes.

I am surprised that Scott has allowed this considering his stated respect for laws of Costa Rica. I personally find it unacceptable for a foreigner (I assume) to preach this doctrine and I believe it is actually forbidden under the condition of most types of foreigner migration status.

Just because you can “get away with it in Costa Rica” doesn’t make it right.

[philipbennie]

Let me declare my interest in this debate: I bought two units from Mapache a few years ago and now rent them. They delivered what they promised to me. I have friends who happily live in the Mapache development in Coco.
so without making any comment I am including below a copy of an email news letter (dated May 17th)I received from Mapache the other week.

“Important Owner News

Costa Marina Owners stock option

Due to the delays in obtaining the final approval from SETENA for the
environmental viability for the construction of the Costa Marina
Project, and as a way to provide the buyers with a guarantee on the
payments made on the units of this project, the developer has decided
to issue shares of the company in the same number of units to be built
in the project.

The idea is to deliver each buyer with one share per unit bought, as
a guarantee that they will receive either the unit fully finished or
their money back in the case the developer, for any reason, gets to
the conclusion that the project is not viable and the project is
cancelled.

The shares will be delivered only to those buyers who decide to
maintain the whole amount paid up to the present time on their units.
It has been decided by the developer to cover interests on the
construction start payment to those buyers that will receive the
shares in guarantee, from the moment the payment was made up to the
re-start of the construction process, at the prevailing U.S. prime
rate according to the variations that this rate has had over the time
period.

These interests will be recognized to the buyers when they make the
next payment, according to the construction advance process, once the
construction is re-started.

Once the units are fully finished and the buyers complete payment of
them, the units will be transferred to the buyers, who will return to
the developer the shares received as guarantee.

A maximum time frame of 18 months has been established to wait for
the final approval from SETENA, and continue with the construction of
the project. After this period the developer will start a process to
sell the property where this project is being built and return to the
buyers the payments received from them. However, the developer may
determine to proceed this way before the 18 month period in the case
of getting access to real information evidencing that the project
somehow is not viable any more; and it may start sooner selling the
property to return payments received from buyers.

Once the property is sold, the buyers will receive their money back,
along with the corresponding interests on the construction start
payment. Buyers will return to the developer the company shares when
they receive their money back. Any balance after returning payments
to buyers will be used by the developer to cover any expense on the
project.

Since the shares are delivered as a guarantee, any re-sale of the
units or assignment of the shares must be handled through the
developer. Interest on the construction start payment will be
assigned to the last share keeper. Additionally, share keepers will
have no right or liabilities on the companys assets or liabilities.
Share keepers rights or liabilities are only those established in the
shares cession contract.

If a buyer who accepted a share as guarantee wishes to request the
developer the returning of the payments made on the unit bought,
those payments might be returned once the developer finds a new buyer
for the unit in particular. The shares cession contract is being
reviewed by our lawyers at this moment and we expect to have it ready
soon.”

[philipbennie]

Ok I don’t know much about this but i recieved this news in a newsletter from Mapache two days ago

“Peon del Sol

There are no current delays and construction is going as planned.
About 80% of the units have started. Each unit is at a different
stage, some at grey construction, some have just begun the base
construction and others already have the roof structures done. You
can see pictures of the advances here
“

next time i pass by I’ll take a look…I havn’t been down to Ocotal recently..

[philipbennie]

I am aware of many of the problems and successes of Mapache having bought from them and living close by to Playas del Coco. They have built themselves, or subcontracted a huge number of projects. It is not fair to generalise and state that everything they have touched should be avoided. Obviously there is a big orange light over them at the moment but they do have many satisfied customers. To the first poster. Is there a particular project you are looking at? Maybe I can tell you more.

[philipbennie]

I live in Sardinal, just outside of Playas del Coco and own two apartments in Playa del Coco.
Yes there are infrastructure problems, mainly of water and phone lines but they are being worked on. There are now many large and wealthy developers here who are putting money into the infrastructure in many ways. Things will improve and are improving.
Obviously these are vital questions to be considered when choosing property. By looking carefully you can find properties with their own wells and phone lines installed especially if you move back a bit from the coastal area.
For the builder, storage tanks, grey water treatment are important things to consider. A lot can be done to cope with the situation until it improves.

[philipbennie]

In my view trust breeds trust and paranoia breeds paranoia. If we want to improve the world we need more positive energy flowing around not negative.

[philipbennie]

Have you tried Alumiglass, between the airport and Liberia. They just installed two shower doors for me and I was quite happy. They came back three times without prompting for finishing detail. No idea about their windows but they do seem to have access to quality fittings and finishes if you ask for it. The price was good.
Address is 1 Km al oeste de la sucursal del Transito de Liberia (its a little house on a rise on the RHS as you go to Liberia.
Phil

[philipbennie]

we have 2 small condos in Coco for rent. I don’t know the project mentioned. Do you know exactly where it is and is that name correct? As for renting…the management company is the key. There are rental pools here that will not give you more than three or four weeks a year of rentals. Those you give high occupancy rates usually do it with long term rentals…which of course are not so profitable. We manage ours ourselves and this year so far the occupancy has been about 50%. This has been achieved with 4 websites and various ads in La Nacion (around $600 in promotion). Can give more figures and details if you are interested.

[philipbennie]

come by sea, sail down the coast, check out marinas etc and stay for three months, then leave for Panama or Nicaragua. Marinas here tend to cater for sports fishing boats. There are some good anchorages and ports you can use. Things will change dramatically in the next few years as more marinas open.

[philipbennie]

Import tax (and to get the boat registered as Costa Rican) will cost about 50% of the assessed value. You can probably assess it quite low due to its age but it will require a good lawyer or careful work yourself to do this. (note its hard to find a lawyer with real experience of registering boats – make sure they have done a lot before.
Travelling overland will be do problem. Massive trucks travel through central america daily. However you may need a customs agent to enter the countrty as its unlikely you can convince customs that you will be taking it out again.

[philipbennie]

bodegas caracol just across from multiplaza gave me the best deaL
249-1931, Dona Patricia is the owner.

[philipbennie]

I’m a geographer, have lived here for 12 years. Can you be more exact with the location and then I can give you a better idea of the climate. E of Siquirres overlooking the ocean doesn’t seem quite right if you are at elevation. What elevation?

Phil

[philipbennie]

I have just finished building and am building a second in a development that meets all of your criteria except for distance from San Jose. Idea Verde is the development just outside of Playas del Coco and only 20 mins from the Int Airport at Liberia. The builder has his own house here and did a good job for us, (come by and see). I think there are only a couple of lots left (c900m I think) not sure what the present price is but for your budget you should be able to build a two/three bed house with nice fittings and still have some change. Get back to me if you want to know more. By first house was finished within 6 months of signing the contract.

Phil

[philipbennie]

sounds to me like the shout that is made during dancing etc at fiestas, its a kind of cowboy yipee! if I understand right. You will certainly hear it in Guanacaste and during typical dances. In fact I remember hearing it at a presentation at the Tiquisia restaurant in Escazu.

Phil

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