Ventana Del Pacifico - Costa Rica
I need help.
I purchased raw land about two years ago from this developer mentioned above and the land now has supposedly been developed and now has working electricity, water and roads.
I have come across some research about this company and have read some negative information with regard to overpricing and more importantly that they have never given title to any of the land lots they have sold which clearly means that I can not build or sell it. This of course was misrepresented to me in many different ways in writing and verbally.
Does anyone have any experience with this group and if so, do you have any insights on the truth to these accusations and if any thing can be done?
I would appreciate your honest responses as it was a big investment for me and I am sick over the thought that I may have made a very big and costly mistake.
RMG
I am not familiar with how title works in Costa Rica, so you should do some research there. I will tell you that here in the Dominican Republic, there is a master deed to a piece of land. A developer needs to complete ALL development on the land, including all phases if it is a multiphase project before he can apply for the individual titles. This can sometimes mean that people do not recieve title for years after purchasing a property. They have their sales contracts which are recorded, and they can sell the property if they wish. It just makes trying to get financing a real nightmare, so most deals are cash.
Before getting to upset, find out what goes on in Costa Rica. Ask realtors around the country about title, etc. Then ask if they are familiar with the developer.
Hope this helps a little bit.