Frequently
Asked
Questions

No, Tamarindo Park only sells turn-key homes, we do not sell lots separately.

Once you have selected a Home of your choice at Tamarindo Park our legal team will begin preparing a Purchase and Sale Agreement (PSA) with the general terms of the sale for you to go over. Once the PSA is signed you will have a period of 7 days to deposit an amount of $25,000 USD into an Escrow Account as an Initial Deposit, this amount will be fully refundable during the Due Diligence Period.

After the DD period is finalized and approved, Buyer must make a Second Deposit of the purchase price (the amount of the Second Deposit will be determined by the construction stage of the home at the time) into the Escrow Account and within a 5-day period we would schedule the Closing Date to transfer the property under the client's name or a corporation of their choosing.

The average DD period spans between 15 to 30 calendar days, this depends on the construction stage of the Home that will be purchased. Homes that are below a 50% construction advance could generally have a DD period of 30 calendar days.

The total purchase price of a home at Tamarindo Park has the following allocation:

a) Lot: 35% of Purchase Price

b) Pre-order: 10% of Purchase Price

c) House: 55% of Purchase Price

At Closing, the Buyer must pay the Homes’ Purchase Price and Pre-order amount, plus the equivalent amount of the Homes’ construction stage.

Buyer must deposit the outstanding amount to complete construction (Purchase Price minus Payment at Closing) at an Escrow Account to be disbursed to Seller according to the construction milestones included in the Construction Guidelines.

If Buyer is unable to deposit the outstanding construction amount, Buyer can transfer the Lot as a collateral into a guaranty trust. Buyer will deposit into the Trust the payments in accordance with the construction progress and milestones included in the Construction Guidelines.

Buyer will assume all closing costs related to this transaction, including closing attorney or notary’s legal fees, transfer tax, register stamps and Value Added Tax (if applicable). Buyer’s closing cost for a property in Costa Rica is a total of approximately 3.5% of the purchase price, this includes the transfer tax, stamps and recording fees as well as the notary fees. These fees may vary; therefore we highly recommend consulting with your local attorney.

Seller will pay all his own legal counsel expenses, along with any pending taxes, property taxes, maintenance fees, capital gain tax (if any), utilities and any and all debts up to Closing Date, as well as the realtor commissions (plus 13% VAT).

Seller and Buyer will pay each 50% of the escrow agent fees.

The Buyer will receive the title of the property once the total purchase price for the Home has been paid, however the type of negotiation selected, and the home completion stage will have an impact on when the title of the property is transferred to the Buyer.

If the Home under purchase is still under construction or a financing option has been selected for the purchase, the title will usually be transferred to a third-party Trust Agent who will keep the title of the property until the total purchase price or loan has been paid.

Costa Rica has a transparent process when buying a property. You can own property outright in your own name or in the name of your corporation. There is absolutely nothing to prevent you from purchasing a property in Costa Rica under your own name, however it is a common practice for Buyers to create a corporation (LLC) with the help of an attorney and then purchase the property through that corporation. We highly recommend you consult with local attorneys or tax advisers.

Tamarindo Park specifically is organized as a condominium, therefore when a Home is purchased the property in itself is privately owned by the Buyer, while the common areas are shared. Owners hold title to their property and collectively manage shared spaces through a homeowners' association. This association enforces rules, collects fees for maintenance, and makes decisions affecting the entire property. Owners typically have rights to use common amenities and participate in association decisions, creating a balance between private ownership and shared responsibilities.

Yes, there are 3 different financing options available at Tamarindo Park, which are:

-Developer financing: This financing only applies for certain homes, where up to a 50% of the purchase price is financed at an interest rate of 8,5% for a 2-year term with a balloon payment at the end of the term.

-Bank financing: Several private banks such as Desyfin, Lafise, BAC and BCT offer financing options to foreigners. Ask our sales team for more information on the terms offered by these banks.

-Private financing: This is regularly a short-term financing option at a 12% to 14% interest rate with a balloon payment at the end of the term, ask our sales representative for more details.

The Homes at Tamarindo Park are all delivered as Turn-Key Homes, that means that they include all fixed furniture, appliances, mechanical installations (A/C, water filtering systems, etc) and landscaping. The Homes are delivered so you can just bring in your furniture and decorations.

Once the construction of a Home begins it generally takes around 10-14 months of construction for the home to be delivered, this timeline can be affected by change orders in the design or in the selected finishes requested by the Buyer, the design of the Home and topography of the Lot chosen can also affect the delivery timeline. If the Home purchased is in the process of construction, the timeline can be much shorter depending on the construction stage in which the purchase has been completed.

Yes, depending on the construction stage of the Home the Buyer can request changes in the general home layout as well as changes in certain finishes for the house. All change requests must be submitted in a timely manner and approved by our architecture and engineering teams, afterwards they will be costed out for the Buyer.

Tamarindo Park is set to develop in different phases, all our phases already have the general construction and environmental approvals (SETENA & MINAE), however before each home is built it must undergo a permitting approval process to obtain the construction permits from the CFIA and the Municipality for that specific home.

Costa Rica ́s very strict building codes and construction requirements are designed considering local weather and geological conditions. The Costa Rica seismic code is followed responsibly by Tamarindo Park complying with all governmental control during construction.

Property taxes in Costa Rica are significantly lower than in North America. Property Taxes are set at 0.25% per year, based on the registered property value, and are payable to the local government agency (Municipality) on a quarterly or annual basis.

Along with the property tax a Solidarity Tax (Impuesto Solidario) is charged to those residential properties valued at over ¢148 million Costa Rica colones (approximately $270,000 USD based on the current exchange rate) and ranges between 0,25% to 0,55% depending on the total property value.

The value of a property is determined by considering the value of the main construction plus the value of all permanent installations (pool, fence, etc.) We highly recommend you consult with local attorneys or tax advisers.

When a Home is delivered the water and electricity services are already connected, the fiber optic internet service and cable TV can also be connected if the services have been previously arranged and contracted by the Homeowner. All homes in the first phase will have their own septic tank system, while the other phases will have a water treatment plant.

No, at this time Tamarindo Park is not offering rental and property management services, however homeowners can select to work with a rental and/or property management office of their choosing as there are a lot of companies that offer these services in the area.

You can ask our sales team for references on companies that can provide these services, as well as the general maintenance services for the house, such as pool, landscaping and water filtering systems and any other service referral you might require.

Homeowners at Tamarindo Park can enjoy the paddle tennis court on our main property, as well as the walking and biking trails that currently exist in the finca. Coming soon they will also be able to enjoy the walkable trails that bring our homesites closer to Tamarindo Beach while also bordering the Marino de las Baulas National Park.

Some of the future planned amenities include The Courtsides, an area destined for paddle and pickleball courts as well as other sports and a lap pool, the Beach Club which will be located in the middle of town right in front of Tamarindo Beach; The Sunset Club, our second club inside the finca with an amazing view overlooking the Marino de las Baulas National Park, a wellness center, a community park and Beach Connector, a commercial area, animal watching stations, a dog park, kid’s playground and a small lake for fishing activities, among others.

The HOA fees are determined by the Homeowners Association (HOA) assembly, which reviews and adjusts them as needed. These fees are subject to change over time based on community needs, maintenance costs, and other factors decided by the assembly during their regular meetings.

The HOA fee currently paid in Phase 1 can vary depending on the construction stage, therefore:

-Green lots (no construction): $195.29

-Lots with completed houses or under construction: $251.98

Tamarindo Park’s first phase has a low HOA fee due to the fact that most of the shared spaces are green areas, however the services provided by the HOA are as follows:

• 24-hour Security.
• Garbage and Recycling collection.
• Common area gardening, water, maintenance, sewage, electricity and others.
• All common administration and management expenses (staff compensation, legal, accounting, audit, etc.)
• Insurance premiums providing coverage for the Common Areas and Elements of the Association.
• Taxes, duties or fiscal or municipal contributions taxing the entire Association and its common areas and elements.
• Maintenance and repair expenses of the Association Common Elements (electro mechanic systems, equipment, cleaning supplies and pest control, fuels, public services).
• Contingency reserves and asset reposition fund. Contribution to the Community Impact initiatives.