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[quote=”Scott”]Uh?

If it’s a Google advertisement you’d need to talk to Google about that … I certainly do NOT promote them in any form.

Scott

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That’s strange because I went back to the same place and now there is nothing there. It was right below the group of three pictures. I almost fell off my seat when I saw it!!

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Hey Scott, On one of the articles on your site about a house for sale in Atenas, there’s an ad for the very site we are talking about here. What’s that all about???

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[url=][quote=”DavidCMurray”][b]Good move![/b]
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In reading further, they also state that I, the “Buyer”, have been clearly made aware of this fact and am satisfied. Bull!

In addition, they state that Recap investments is under “no obligation” once the purchase is finalized.

You are obliged to use their attorney to close and the buyer pays all closing and transfer fees. The amounts mentioned appear far beyond typical legal fees.

Here is a true example of a company that misleads and misinforms clients. They claim to have two successful projects completed but if they were only the marketing arm, how can they make such a claim? They didn’t develop anything! But their ad doesn’t say anything about that!

Now I am not saying that this could NOT be a good investment, I am simply stating that the facts given by Recap Investments sales people are not complete and honest.

Tomorrow I will be sending their representative a letter to this affect and will happily send a copy to Scott to do as he pleases. Hopefully we can prevent others from being equally mislead.

Again, thanks to this forum for its helpful information.

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Thank you so much for hammering this home.

I just received their “Legal Reservation Agreement” and in it, it clearly states that Recap Investments does NOT own the land! They are the marketing arm (in Canada) for a Costa Rican company that, they themselves, only have the RIGHTS to purchase this land!!!

So the plot thickens and like you said David, is it really worth “going out on a limb” on these promises. I think not.

I’ll happily build my home in Altos los cafetales and use my money to grow more fruit!!!

Thank you for the eye opener!

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[quote=”costaricafinca”]Once you see electrical services, water lines … [i]not just a fancy gate[/i] … actually in place, then it ‘may’ be time to get serious.[/quote]

But that’s when the prices go up again. This is pre-construction, pre-electricity, pre-water, etc!!!

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[quote=”DavidCMurray”]With any real estate purchase in Costa Rica, at least, always do your own due diligence using knowledgeable experts of YOUR OWN choosing. Have YOUR OWN attorney research the title. Have YOUR OWN architect determine the suitability of the land for building. Have YOUR OWN surveyor confirm the boundaries. Verify for yourself that the utilities and amenities that are important to you are actually available to you.

Once you’ve fallen in love, don’t take anyone’s word for anything. Verify it for yourself.
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Hi David,
Thanks for your input.
I am infact, doing just that. Last month I purchased a lot at Altos los Cafetales from Brian McLane, a recommended builder on this site. So I alsready have an attorney in San Jose as well as my own S.A. now. So I have asked them to do a little search on this property as well.

I also see that the architect for this project is Carlos Arias. His site shows some completed projects in Jaco, Esterillos Beach, etc. You wouldn’t think a firm of this stature (as well as the legal firm) would associate themselves with questionable developpers, would you? Or am I being naive?

I have also requested the “plano” for the lot in question.

My biggest concern is whether the developper will fulfill his obligations on infrastructure. Generally, how does one protect himself in such a case?

Thanks again to all.

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Hi Scott,

Thanks for the feedback. And I agree that it all sounds too good to be true. And often those offers ARE in fact, too good to be true.

Having said that, they sent me a letter from Facio & Cañas law firm stating that they do own the land, full title and fully paid – no encumbrances or liens. They even give the Registro folio number. Registered Feb. 2012!!!!

They are listed in the Registro Nacional.

On their Honduras gallery, there are several actual houses in various states of construction – some actually completed.

They have offered me a visit and $1000 credit towards my airfare if I buy a lot.

I have a full list of references from their Honduras project. I am contacting each and every one.

But I do agree that it sounds fishy.
Thanks for the advice.

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