We closed on the land yesterday. YESTERDAY!
Today, less than 24 hours after closing, the treasurer for the Home Owners Association sent an invoice via email for the 2012 dues. $1350.00 due upon receipt! OUCH!
On a positive note, we had to pay 2012 property taxes in full at closing. A whopping $218. It will go up once we get the house built but so will the HOA dues and it looks like the HOA will be quite a bit more than the taxes even on the finished house. Still, taxes and HOA dues combined on a much grander home with views of the Pacific in a tropical paradise will still be quite a bit less than taxes alone on our home in Dallas.
At 1:40pm today our attorney sent notice that the deal was done. Documents were signed. Money changed hands and we are now the proud owners of Lot #12 (1.3 acres) in Rancho Manuel Antonio, a housing development in Manuel Antonio, Costa Rica. Here it is on Google Maps: http://goo.gl/maps/Hinyp
All the warnings about Tico Time and the challenges of dealing with antiquated practices of a third world nation really have me worried… funny thing so far the worst delays have been at the hands of AMERICANS. Continue reading
Our attorney sent an email today asking for copies of cancelled pay stubs or other documents proving the source of my income is a legitimate business. The Costa Rican government is doing what it can to insure that when large sums of money are transferred in to the country the person sending it is not a member of some drug cartel.
I’m okay with that.
Our lawyer completed the due diligence work and determined that the land has a clear title and that there are no issues that will prevent us from taking ownership. All we needed to do was wire the funds down to the escrow account set up for us. Now, a ‘wire’ transfer is in essence an electronic transfer and with all the modern telecommunications systems in place, it should be virtually instantaneous.
NO. It is not. Continue reading