RESERVA CONCHAL BUYERS FREQUENTLY ASKED QUESTIONS:

1. Having decided to purchase how long does it take to transfer funds?
   Typically just 3 – 5 days
2. How long does it take to transfer legal ownership once funds are received?
   Legal transfer initiates with the signature of the transfer documents and their presentation to the Registry. The complete process can take up to 4 – 5 weeks, but once the document is stamped as received by the Registry, then you have the rights over the property, and no liens or transfers can occur without your approval.
3. What sort of buyer’s representation should I have when purchasing real estate?
   You are advised to hire a lawyer to assist you with your real estate transaction. You will negotiate your fees with the lawyer but in general they are about 3% of the value of the property. This includes transfer stamps and other legal fees. The Use of a responsible, well respected bi-lingual agent is most important.
4. When buying a property in Reserva Conchal will I need to perform a title search in the property registry?
   In general the lawyer will research the title’s legal standing as part of their service or you can request a title Company to do this for you. Reserva Conchal already has the appropriate documentation in place and works directly with STEWART TITLE.
5. What documents will be provided prior to purchasing?
   A letter of intent by which you reserve your property for a limited period of time prior to signature of the sales and purchase agreement. Once construction is completed you will need to sign the transfer documents.
6. Is there a deposit required on pre-construction purchases?
   There is a Reservation deposit required, generally around $10,000. After that initial deposit you will be required additionally payments when signing the sales and purchase agreement, once ground is broken then when the roof is in place and finally on completion. Payments are a percentage of the purchase price or project.
7. What are the property taxes?
   It is 0.25% of the value of the property. The value is lower than the sales price or value determined by the Municipality. In general the sale price is much higher than the Municipal values.
8. Are there security issues I should be concerned with for my home?
   Reserva Conchal is a gated resort community and one of the safest places in Guanacaste.
9. Are there property management services with Reserva Conchal that will monitor the security of the home whilst I am away?
   Yes – the Home owners association decides the level of security for each condominium under the advise of Reserva Conchal. The monthly fee covers this cost.
10. What rights do I have if the Master Plan is not fulfilled by Reserva Conchal the way it was presented?
    The CC & RS for Reserva Conchal will detail all the commitments that RC is making. Nothing that is not included in them is a commitment. RC reserves the right to modify the master plan unless otherwise stated in the CC&RS
11. Is there a homeowners association for each project or for the entire Reserva Conchal resort community?
    The association for the complete property is still under development.
12. What are the fees associated with the homeowners association?
    The fees vary amongst the different projects within the master plan. They are in any case determined by the HOA once the properties are transferred.
13. Is there a contract rescinding period and if so what is the time limit?
    This is not required by law in Costa Rica but Reserva Concahl generally honors a 7 day rescinding period for the first deposit.
14. If I purchase a product pre-construction can I sell it to another party before it is complete?
    With the approval of Reserva Conchal you can transfer your rights for the property to a third party, but the transfer will only occur once construction is completed.