FAQ’s
GENERAL
Where
is Tropica Sands?
Tropica
Sands is located directly on the beach front in Jaco, Costa Rica.
Jaco lies on the Central Pacific Coast where the “Mountains
Meet the Sea” according to Frommer’s Travel Guide.
Jaco is the most developed beach town in Costa Rica and has all
the amenities for even the most discerning visitor. The area is
tropical and offers a variety of terrain from the serenity of
the beach to the nearby lush green mountains.
How
do I get to Jaco?
Jaco
is 73 miles west of San Jose, the capital of Costa Rica. A number
of US airlines provide frequent service to San Jose’s Juan
Santamaria International Airport. Delta, American, US Airways,
United and Continental fly non-stop to San Jose from their respective
hubs in Atlanta, Miami, Dallas, Los Angeles, Charlotte, Chicago
and Houston. From Europe, there are direct flights from Madrid
via Iberia and Air Madrid, and from Amsterdam via Martin Air.
More flights are being added all the time.
The
scenic drive through the mountains takes approximately 1½
hours from the Juan Santamaria Airport. Rental Cars are available
from major rental agencies such as Hertz, Avis and National. Buses
or cabs can also be hired from the International Airport for those
who like to sit back and leave the driving to somebody else.
What
is so special about Jaco?
Jaco
is one of the most established beach communities in Costa Rica.
It provides many amenities, attractions and diversions for a foreign
traveler to enjoy. Jaco has a variety of restaurants, bars, nightclubs
and casinos that make the community vibrant 24 hours a day. Other
activities that await our visitors include hiking, golf, tennis,
sport fishing, mountain biking, surfing, scuba diving, horseback
riding, and kayaking. Day trips are available to attractions such
as Manuel Antonio National Park and the Arenal Volcano.
What
is the weather like?
Because
is located 9 degrees from the equator, it is warm and tropical
year round. The wetter season is known as the “green”
season and lasts from May to November. This is generally known
as the Costa Rican winter (although Costa Rica is located in the
northern hemisphere). The dry season, or summer, lasts from December
to April.
Is
Jaco safe?
Like
most of Costa Rica, Jaco is quite safe. Major crime is rare. Authorities
suggest, however, that tourists park their vehicles in secure
parking lots and not leave valuables in plain sight. For your
convenience, Tropica Sands will provide 24 hour secured parking.
Are
there restaurants and bars?
Jaco
has an abundance of bars, restaurants, casinos and all-night discos.
Jaco is a cosmopolitan town, and its international diversity ensures
that our visitors enjoy a variety of dining experiences ranging
from Italian gelato to American hamburgers to local Costa Rican
dishes such as gallo pinto. Restaurants tend to be small, friendly,
open air establishments. For your convenience, Tropica Sands will
have its own restaurant and bar
Is
there shopping in Jaco?
While
you won’t find Nordstrom’s or Harrods in Jaco, the
casual and informal Costa Rican environment is reflected in the
town’s various stores. Clothing for the beach as well as
arts and crafts prepared by Central American Artisans are sold
in unique and interesting shops and by street vendors throughout
Jaco. For the serious shoppers, there are malls in Escazu and
San Jose, where you will find brand name merchandise.
How
close is the nearest medical facility?
There
is a new state of the art medical clinic in Jaco. Qualified English-
speaking doctors and dentists are easy to find. Drug prescriptions
can be filled at any of the convenient pharmacies located throughout
the town.
Major
medical facilities are found in San Jose and emergency helicopter
transport is available between the two cities. Quality medical
treatment is relatively inexpensive by US standards. San Jose
also has good private hospitals, some of which accept certain
US insurance plans.
Can
my children attend school in Costa Rica?
If
you choose to live in Costa Rica, public education is available
to everyone including foreign residents at nominal cost. The country
also has a number of private schools. Many are bilingual with
classes taught in English. More information can be obtained through
the United States Embassy in San Jose or the Costa Rican Ministry
of Public Education.
What
are the Property taxes in Costa Rica?
The
property tax rate is 0.25% on the declared value of the property.
At the election of the property owner, the tax is payable on a
quarterly or annual basis.
Does
Costa Rica have tropical storms, earthquakes, floods and other
natural disasters?
The
west coast of Costa Rica where Tropica Sands is located is not
subject to hurricanes. Tropical storms will sometimes hit coastal
areas causing brief localized flooding to streets. The area is
seismically active and occasional tremors can be felt.
Does Costa Rica have many insects and reptiles?
Costa
Rica is in the tropics, and we share the environment with insects
and a wonderful variety of wildlife including many different reptiles
and amphibians. Few of these creatures poisonous and common sense
and good housekeeping practices will alleviate, if not eliminate,
intrusion from unwelcome pests.
Is
the water safe to drink?
We
have found the municipal water in Costa Rica safe to drink. Tropica
Sands uses water supplied by the municipality in Jaco and is developing
two underground reservoirs to ensure owners a constant supply
of water.
TROPICA SANDS
Who
is developing Tropica Sands?
Tropica
Sands is being developed by an international partnership of experienced
hospitality and condominium development executives from the United
States and England.
How
many units are in Tropica Sands and how will it take to build?
Tropica
Sands consists of two buildings. The Tropica is nine stories and
the Sands is ten stories with a total of 84 units. It is estimated
that it will take between 16-19 months to construct both buildings.
Who
is going to be the General Contractor?
The
general contractor is EDIFICAR S. A. They were the general contractor
for the Four Seasons and the Marriott Los Suenos as well as several
other large-scale projects. For more information, you can visit
their website at www.edificaronline.com.
Who
is the Interior Designer?
The
inter designer is Mitch Thompson of Thompson & Associates.
In 2005, Thompson & Associates was awarded the coveted Design
Awareness Award. Some of the designer’s more prominent work
includes The Old Faithful Inn and Snow Lodge in Yellowstone National
Park, Maswik Lodge in Grand Canyon National Park, Furnace Creek
Inn in Death Valley, and L’Auberge Lodge, Beaver Creek,
Colorado.
Are
the fire protection and life safety systems up to US standards?
Tropica
Sands is being constructed to fire protection standards current
in the United States. Each Tropica Sands unit will have sprinkler
systems, smoke alarms, heat sensors and enunciators centrally
tied to the front desk.
What
amenities does Tropica Sands offer?
Tropica
Sands is a residential condominium resort. It will offer hospitality
services on par with other 4 star properties in Costa Rica. These
amenities include a restaurant, bar, swimming pool, fitness center,
spa, concierge services, secured parking, housekeeping, and 24
hour front desk services. In addition, there will be 24 hour security
to ensure the safety and privacy of our owners and guests.
Who
will operate the restaurant, bar, spa, exercise facility, and
hospitality services?
These
services will be operated by SeaMountain, an affiliate of the
developers. SeaMountain may bring in an independent third party
restaurateur to operate the restaurant and bar.
What
HOA (Home Owner Association) fees can I expect to pay?
We
expect the HOA fee to be in the general range of $500 per month.
Prior to signing the Purchase and Sale Agreement, the homeowners
will be presented with a detailed budget which will finalize the
fee schedule.
Am
I able to rent my Condominium?
The
condominium declarations give the owners the right to rent their
units. However, to protect the privacy, integrity, and security
of the Tropica Sands residents and our luxury development, units
will not be allowed to be rented by independent real estate agents
or companies not affiliated with the developers.
Are
there other projects like Tropica Sands in Jaco?
In
Jaco, there are other projects currently under construction, or
recently completed. Tropica Sands is located on the beach in the
quiet part of town and is a short walk or ride to all the amenities.
Given Tropica Sand’s location, quality and amenities, we
don’t believe there is anything that compares. We invite
you to do your own market research.
Are
pets allowed?
Approved
pets are allowed as long as they are contained within your property
and pose no threat or nuisance to other residents. It is expected
that some Tropica Sands residents will have cats and small dogs
in their condominiums. It is a relatively simple process to bring
a pet into Costa Rica. We will be pleased to provide further information.
CONDOMINIUM PURCHASE
What
do I need to do to purchase a condominium?
You
need to sign a “Reservation Agreement” or if post
ground breaking a “Purchase and Sale Agreement” and
make the appropriate financial deposit. Most local brokers have
copies of these agreements, or you may contact ReMax’s Tropica
Sands sales center at (506) 643-1219 or e-mail us at info@tropicasands.com.
If
I signed a Reservation Agreement, when will I need to sign a Purchase
and Sale Agreement?
Prior
to breaking ground, you will be contacted and presented with a
Purchase and Sale Agreement, the Condominium Declarations, the
Condominium Deed, and the HOA budget. Upon receipt of these documents,
you will have 10 days to execute and return the package.
How
do I close and how much are closing costs?
Closing
will be handled through Stewart Title in San Jose, or any other
title company you may choose. All the necessary documents will
be forwarded to you in advance by Stewart Title for your review.
At the time of closing you will be responsible for Land Transfer
Taxes and Registry Stamps totaling approximately 2.5% of the value
of the unit and the first year’s homeowner’s dues.
Is
financing available?
There
are many local and international banks as well as other financial
institutions that offer financing to qualified buyers. Our representatives
would be happy to provide you with further information about the
options available.
May
I get a telephone, internet connectivity and cable TV?
Yes,
all the wiring for these services will be available in the units.
SeaMountain Management will be happy to assist you in setting
these up after closing and the monthly billing will be included
in your HOA dues.
How
much will it cost me to insure my condominium?
Currently,
annual rates are approximately $500 per $100,000 insured. We urge
you to contact a local insurance agency or ask your local attorney
to determine what is appropriate for your unit.
LEGAL ISSUES
I’ve
heard that it is not possible to own property located “directly”
on the beach in Costa Rica, is that true?
Unlike
most beachfront property in the country that is held in concession
(lease) with the local government, Tropica Sands is unique in
that it offers fee simple ownership. This is possible because
the land under Tropica Sands was “grandfathered” in
1977 when the Maritime Law was enacted.
Does
a foreigner have the same fee simple ownership rights for this
beachfront property as Costa Rican nationals?
Foreigners
have the same rights as Costa Rican nationals when it comes to
owning property. Therefore, this property will be held fee simple
for all buyers.
Is
there a reason that condominiums in Costa Rica are purchased by
buying the shares of a corporation that owns the condominium?
Yes,
there are a number of benefits. Many people prefer this method
because there are no sales or transfer taxes on the sale of the
unit. In case of accidents or lawsuits from outside parties, personal
liability is reduced if you own the condo via a corporation. Upon
your death, the property is inherited by your beneficiaries without
transferring title, thus no transfer fees. Another benefit is
that the corporation can be purchased through your IRA. Additionally,
as an owner of a corporation, you can buy a cell phone, or a car
in Costa Rica, which is a benefit not enjoyed by non-residents
or non corporate entities. In any case, we encourage you to consult
with your attorney to determine what is best for you.
Is
it possible to purchase a unit outside of the proposed Corporation
structure?
Yes,
purchasing title to the property as an individual is an option.
May
I use my own attorney to review the contracts and to close?
Yes,
if you would like, you can use your own attorney. Alternatively,
there are many good firms in San Jose who are knowledgeable in
Costa Rican law and who are staffed with English-speaking and
U.S. trained lawyers. Two such firms that we recommend are BLP
Abogados and Arias & Munoz.
Can
I get title insurance?
Tropica
Sands is using Stewart Title as its Title Guarantor and Escrow
agent for the project. Stewart Title will provide a standard Title
Insurance Policy similar to what you would receive in the United
States. They also can assist you in Escrow services if you need
them. A representative of Tropica Sands or your local broker can
put you into contact with the person in charge of the Tropica
Sands account.
Who
keeps track of chain of title?
Stewart
Title researches the chain of title. Titles are maintained in
the National Registry of Costa Rica. Visit http://www.registronacional.go.cr/
As
a Tropica Sands Owner, am I a Costa Rican Resident?
No.
If you are interested in obtaining official residency, we suggest
that you contact a local lawyer familiar with this process.
Do
I need to come to Costa Rica to close?
No.
It will, however, be necessary to have a representative that has
a Power of Attorney who can sign for you. You should check with
a local lawyer on how this can be set up. |
