Step 1 - Reservation Agreement & Deposit
Step 2 - Issuance of Folio Real and Plano Cadastral
Step 3 - Priority Selection
Step 4 - Pre Closing.
Step 5 - Closing
Step 6 - Congratulations!
(*) This guide is courtesy of Paradise Equity
Step 1. Reservation Agreement & Deposit
Congratulations on taking your first step in owning a piece of Paradise in the Guanacaste Country Club. In order for us to guarantee your Exclusive Pre‐Development Price and position on the “Reservation Priority List”, we must receive from you the reservation deposit equal to twenty (20%) of the purchase price and a signed reservation agreement. At this point, an ERA Sales Associate will be assigned to you to guide and assist you through every step of the way. If you want to visit Guanacaste, contact your ERA Sales Associate now. He or She will help you make all arrangements for your stay including airlines, hotels, car rental and tours. Of course, he or she will insist on personally meeting you and also proud to give you a tour of the area and the Development. (Back to Contents)
Step 2. Issuance of Folio Real and Plano Cadastral
The home sites have been formally registered with the Registro Nacional (The National Registry). This is evidenced by the following: (a) Matrícula de Folio Real or Folio Real (property registration or identification number specific to the Home Site, registered with the offices of Public Registry of Properties); and (b) a Plano Cadastral (this is a survey or official drawing of the of property filed with the Cadastral Department, which was validated through an approval process by the Public Registry of Properties as well as by the local municipality). At this point, the particular phase in the development has been subdivided and the Home Sites have been individually registered and ready for Sale. (Back to Contents)
Step 3. Priority Selection
The excitement begins. A “PRIORITY SELECTION NOTICE” is sent to the Buyer’s holding the first 25 positions on the Reservation Priority List (#1‐25). Every two weeks we will be sending out PRIORITY SELECTION NOTICES to the next set of 25 positions on the Reservation Priority List. When you receive your PRIORITY SELECTION NOTICE, you simply go on the web site and make three selections in order of your preference and submit them immediately via email or fax to your ERA Realty Sales Associate. Your ERA Sales Associate will also be available to assist you in discussing the various attributes of each Home Site. Once the ERA Realty Sales Associate receives your selection(s), a Purchase Contract is generated and emailed or faxed to you confirming and guaranteeing your selected Home Site(s). Immediately sign and send back the Purchase Contract to your ERA Sales Associate, in order to lock in your Selection(s). If the ERA Realty Sales Associate does not get back the signed Purchase Contract within 48 hours, then the Home Site(s) will go back into the general selection pool.
Once the Purchase Contract is received, that’s it, you are almost finished completing the purchase of your Home Site. The best news is that at this step, we do not require any additional money or a second deposit in order to lock in your Home Site(s) at the reservation price. (Back to Contents)
STEP 4. Pre Closing
Can you feel it? Paradise is around the corner. Within 60 days after the effective date of the signed purchase contract, the purchase of your Home Site will be concluded or “Closed”. Between the signing of the Purchase Contract and the “Closing”, you will be in constant communication with your ERA Sales Associate in order to coordinate the “Closing” as well as assist you with your bank financing (if applicable) .Your ERA Sales Associate will also assist you in establishing a Costa Rican Company or Sociedad Anonima (S.A.) in your name at NO COST TO YOU, compliments of the Developer, Mr. Craig S. Williamson. Please note that if you are financing a portion of the Purchase Price, you most likely be required to have to purchase the Home Site through your Costa Rican Company. (Back to Contents)
STEP 5. Closing
This is it. At the Closing, you will sign (or have signed in advance) the final closing documents and pay the balance of the Purchase Price plus closing fees. If financing is involved this means paying only an additional 10% of the Purchase Price plus closing fees and applicable bank fees, and signing all closing and loan documents. (Back to Contents)
STEP 6. Congratulations!
You are now the proud owner of a piece of paradise. Please remember that your ERA Sales Associate will provide you with assistance in obtaining a reputable builder to construct your home. If you are an investor, your ERA Sales Associate can also assist you in marketing and selling your Home Site. (Back to Contents)