F.A.Q.'s

• BV I is the site with the octagon model home and there is a total of 19 lots located on the property. At this site, we will sell lots with homes. However, we will set aside a limited number of lots in which we will sell the lot only for which the buyer agrees to start home construction within 8 months after signing the sales contract.
• BV II offers beautiful view lots of Lake Arenal. We are selling lots only at this location. You are free to build one of our octagon homes on this site or you may build another style home (but it must meet the CC&R requirements). No financing is available for purchases of lots only.

• This is a full ownership. You will own the property outright (fee-simple title).

• There are two options available for financing home construction.
  • The first option is for the homebuyer to secure secondary financing (line of credit, second trust note) in their home country. This money, once deposited into escrow, will be held by Title Insurance by LandAmerica Commonwealth Title Of Central America® and will be released in accordance with a pre-defined fund release procedure.
  • The second option is for the buyer to secure completed home (or take out) financing . This option requires approval in advance by the builder and would require deposits to be made to the escrow account by the buyer during the construction of the home. At the opening of escrow, application is made by the buyer to secure financing against the home once the house is complete. At home completion, the balance owed the developer would be paid and the buyer ends up with a mortgage in Costa Rica for the house.

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• Your funds will be deposited into a Title Insurance by LandAmerica Commonwealth Title Of Central America® escrow account. The funds will be released in accordance with the escrow instructions. Fund control will be managed by Title Insurance by LandAmerica Commonwealth Title Of Central America®.

• Property taxes are very low in Costa Rica compared to that of the United States and Canada. The property tax in Buena Vista I and II is an annual rate of 0.25% of the assessed value. The assessed value is determined at the time of the sale. The municipality is responsible for collecting the municipal government property tax. There is also a local community government charge, for Municipal Services. This is based on the frontage of the property and varies in each area, but is not to be over $10 per quarter per residence.

• The INS (National Institute of Insurance), a Costa Rican Government owned entity can provide many option for insurance services such as fire, theft, damage, etc.

• Title Insurance by LandAmerica Commonwealth Title Of Central America® offers title insurance for property in Costa Rica to ensure you have free and clear title, just like when you buy real state in the US or Canada. Title insurance fees are paid only once, at the time of purchase. Title insurance assures the marketability of your title and gives you no-fault recourse in the event of any problems. When you purchase title insurance, an extensive title search is performed. We have made an arrangement with Title Insurance by LandAmerica Commonwealth Title Of Central America® to secure your purchase by offering title insurance for every property at the Buena Vista sites.

• The Construction is being overseen by an experienced North American construction manager. These homes are designed and engineered to withstand the elements of nature. They are set on reinforced concrete piers, joined together by reinforced concrete beams. The entire base acts as one unit. The steel superstructure of the house is welded to plates which are tied directly to the footings. Aside from the main steel carrying beam, the entire structure is galvanized steel, essentially a post and beam type construction, where the weight is transferred to the structural piers.
• Structural, electrical and mechanical systems have been rigorously studied and certified by the Costa Rican College of Engineers, which has to approve all new structures in excess of 30 m2. This is to ensure the safety and durability of new construction in Costa Rica.
• The exterior consists of a fiber-cement type board covered with a wire mesh with 1.5 cm. of mortar, which is then covered with a stucco finish. The windows and doors are a superior-quality European designed reinforced vinyl. The steel roofing is enameled inside and outside. Outdoor decking consists of heartwood teak planking. Ceramic floors for both kitchen and bath are imported from Italy and the fixture and appliances are American style. The interior floors are teak as standard. The interior walls are insulated and dry walled. Kitchen cabinets and bathroom vanities are handcrafted locally using Costa Rica woods.

• There will be a management company on the property hired by the HOA which will handle: landscaping, all rentals, and concierge services.
• You can rent the property as long as it is accordance with the homeowners approved by-laws (CC&R’s). The management company will assist you with your arrangements.
• There are homeowner fees to allow these amenities. They are estimated to be $200.00 per month per homeowner.

• Municipal water supply for all Buena Vista I homes
• TV cable available
• 120VAC, 220 VAC (American style outlets)
• Each home will have a separate septic tank
• Imported Italian 6 burner stove
• Other kitchen appliances are GE
• GE Washer and Dryer standard
• Teak floors

• One or two story options (option may depend on lot location)
• Casita (guest house)
• Garage
• Jacuzzi (hot tub)
• Teak floor planking
• Expanded decking

• The Fractional Ownership residence has been designed to provide considerable more quality, convenience, services and treatment than a conventional vacation home. Buena Vista Properties provides you with a unique experience at one of the most sought after locations at Lake Arenal in Costa Rica. It combines virtually all of the benefits of whole ownership with the services and treatment of a fine hotel, without the worry and absolutely hassle free.

• Virtually as often as you wish, subject to Buena Vista Properties policies and procedures as detailed in your fractional purchase agreement and documentation. Owners may choose from their shared ownership program (1/13th*) and have guaranteed usage of their respective shares (periods) per year and as more defined within the Reservation System information.
  Purchasers will have the ability to select their 1st shares (periods) and may choose to purchase 2 periods within Platinum selections (for which an additional $5,000usd per period will be applicable) and 1 period within the Gold selection The additional period(s) will then be selected at any of the other periods. Our Fractional Ownership Calendar is available for your review and our representatives are available to assist you with further details.
  The selection by Purchasers of their respective periods is based solely on the date of purchase (and subject to previous purchasers’ selections and availability)
  Additional usage may be acquired through a Space Available program.

• At Buena Vista Properties your Ownership is a share that grants interest in the Real Estate and as defined in the individual corporation documents established for the property you have purchased and is perpetual in nature. As an example each owner receives their respective shares (1 share per owner for total of 13 shares within residence on our 1/13th Fractional Program) which is provided through a corporation to assure all purchasers comply with designated requirements of ownership (similar to properties purchased as co-operative ownership such as in New York) in the residence they have purchased.
• Fractional Ownership removes all entanglements as each owner has their separate share(s) and usage, maintenance and rules governing the program which are pre-determined, making it worry free, hassle free and with no surprises.

• Buena Vista Properties and their communities are offering only a total of no more than 13 separate owners for each residence.

• Yes. Like all other forms of real estate ownership, Buena Vista Properties ownerships can be sold or transferred by the owner subject to Buena Vista Properties documents and local real estate law.

• In addition to the impeccable standards of the fully furnished fractional home (which may also include 1 or 2 guest casitas, private infinity pool, Jacuzzi, garage or carport), Buena Vista Properties fractional owners will enjoy the benefits of a dedicated concierge for all your retreat & vacation needs. Pre-arrival shopping, personal storage items placed in your residence, and a myriad of services tailored to complement the lifestyle you have chosen.

• Timeshare is strictly a vacation product where people pre-purchase weeks of vacation at their home resort. It is a mass market product for the broadest cross section of the population and serves their vacation needs very nicely. As a timeshare owner you may initially have purchased a particular residence as you preferred the view, furnishings and/or location; however when you arrive for your respective timeshare period that residence may not be available to you for various reasons (maintenance, extended previous renter, etc.)
• At Buena Vista Properties we are a commitment to a leisure lifestyle for the true second home buyer and you are always assured that the fractional home you have purchased (and time selected under the Reservation system) is yours and available for an exceptional experience and lifestyle.

• Pricing, when compared to alternative second home ownership at Buena Vista Properties at Lake Arenal and with several exclusive communities we offer, is one of the most compelling reasons for purchasing at Buena Vista Properties.

• Actual maintenance and all operational expenses of Buena Vista Properties fractional ownership homes and within each Buena Vista Community are scheduled (along with a reserve fund) and are allocated to the property on a pro-rata basis. Complete details on the Association costs for the individual Buena Vista Properties community and fractional home you are interested in purchasing are available upon request.

• Reliable medical services are available in Costa Rica.
  There are well-trained, competent doctors, dentists, ophthalmologists and specialists practicing in all the major cities. Many have studied in the United States, Europe or Canada and most speak English. The capital city of San Jose has numerous modern and well-equipped hospitals and clinics.
• Costa Rica offers visitors and tourist low-cost medical insurance while in the country through a program introduced by the Costa Rican Social Security office and the International Organization of Cultural Interchanges (OICI). The coverage can be purchased at travel agencies, language schools or through many tour companies.
• Go to http://www.hospitalcima.com/ to see the newest private clinic in San Jose. In Tiliran (sometimes spelled as Tilaran), there is an emergency medical facility which can be used for emergency primary care. In nearby Canas (14 miles), there is a full service hospital under construction and should be completed during the second quarter of 2006.

• Costa Rica is a democratic republic. Under the 1949 constitution, all citizens are guaranteed quality before the law, the right to own property, the right of petition and assembly, freedom of speech and the right of habeas corpus. The constitution also divides the government into independent executive, legislative and judicial branches. The executive branch is composed of the president, two vice presidents and a cabinet. The legislature is the National Assembly, composed of 57 members (diputados) elected by proportional representation. National elections are held every four years, on the first Sunday of February. Under a constitutional amendment enacted in 1969, a president may serve only one four-year term during his lifetime. Diputados also are elected for four years and may serve a second term four years after the first ends. The largest political party is the National Liberation Party (PLN). Its main rival is the more conservative Social Christian Unity Party.

• Costa Rica is a tropical country which contains several distinct climatic zones. There is no winter or summer as such and most regions have a wet season from May to November and a dry season from December to April. Annual rainfall averages 100 inches nationwide with some mountainous regions getting as much as 25 feet on exposed eastern slopes. Temperature is more a matter of elevation than location with a mean of around 72 degrees in the Central Valley, 82 degrees on the Atlantic coast and 89 degrees on the Pacific coast.

• The country is divided by a backbone of volcanoes and mountains, an extension of the Andes-Sierra Madre chain which runs along the western side of the Americas. Costa Rica has four distinct cordilleras or mountain ranges -- Guanacaste and Tilaran in the north, Central and Talamanca in the south. The country's highest point is Mt. Chirripó (3,797 meters). The capital, San Jose, and the neighboring major cities of Alajuela and Heredia lies in the middle of the Meseta Central (Central Valley). Almost two-thirds of the nation's population live in this small, fertile valley. The Pacific coastal plain is much narrower than its Caribbean counterpart. Both coasts are lined with white and black sand beaches.
  

• There are four million people in Costa Rica with close to one million in San Jose and the Central Valley. The people, "Ticos" (as Costa Ricans are affectionately called), are self-assured, characterized by genuine friendliness and tremendous pride. Foreign travelers are warmly welcomed. Spanish is the official language with English widely spoken.