The Process

Our master developer structured this respectful and enticing community around an HOA model of worry-free ownership. From our front gates to our view points, from the streetscape to gardens, all is included in our care package.

Real Estate Closing

Costa Rican real estate transfers are subject to certain transfer taxes and fees of the purchase price. Other closing costs may include title insurance, financing fees, and prepaid association dues.

Lot Purchase and Construction

Interested Buyers will initially enter into a Reservation Agreement which identifies the lot they wish to purchase. Architectural designs for the home on each of these lots will be established. A deposit is required to make a reservation. A Purchase Agreement will then be drafted and once signed off on, construction of the home will begin.

Homeowners Association (HOA)

Hermosa Falls Home Owner’s Association (HeFaHOA) is an integral part of Hermosa Falls Estates gated community. Created under Costa Rican law, the association has a total of 49 homesites. Each homesite is a free-standing plot of land and structure. Common areas are owned by the HeFaHOA and include guardhouse and entry gates, road infrastructure and common amenities.

Homeowners Insurance

Homeowners insurance in Costa Rica is provided by a government entity. Insurance can be obtained directly from the government or through an insurance agent. Most people use an agent.

Property Maintenance

The grounds of the Association will be maintained by employees of the Association itself, or by employees of a management company designated by the Association. The maintenance of the structure of each Unit, both interior and exterior, and its grounds, will be the responsibility of each owner.

Costa Rican and International Taxes

Income generated from the rental of Units may be subject to Costa Rican and/or International income taxes.

Financing

If Buyers need financing for the purchase of their lot and home there are many Costa Rican financial institutions currently offering competitive rates.

Rental

Each Buyer can choose whether or not they wish to rent their Unit during their absence. Buyers can also choose how they wish to market the rental of their Units.