What is Tres Regalos?
Tres Regalos is a boutique oceanfront resort in Jaco, Costa Rica, boasting residences in two buildings of five floors with fifteen units each. 24 units are beach front and have combination white water ocean and rainforest views. 6 units are oceanfront with mountain-view balconies.
We proudly present Tres Regalos Beach Club and Resort; a wondrous place to celebrate life; to recharge, to reunite with what feeling good does for your soul. To renew appreciation of who and what we are through experiencing a place which simply fits; where lifelong memories are carved into our very beings; a place to calm ourselves; to reconnect with family, friends, and nature.
30 units of Mediterranean Architecture, designed with attention to both detail and the natural surroundings in hopes of capturing the perfect fit between man and paradise. Warm Pacific waters touch the mountains as rainforest waters flow gently to the sea. The only difficult choices here are when and if to leave.
From each arched balcony, you can listen to the sounds of the sea and recall the memorable sunsets of your life. Whether you sit by the pool, in the pool, in the sand, in a hammock or the comfort of your private balcony, this is a place to live a whole life in one day.
Where is Tres Regalos
We are located on The North Beach overlooking the Pacific Ocean and the last untouched rainforest in Jaco Beach. To locate us, take the main road North through Jaco, and you will see our entrance. Take the Central American Highway North from the airport. 10 miles to the north take the turn off West to Jaco, Orotina, Atenas and follow the signs. Take the first entrance to Jaco and turn right at the stop sign approx. 2 miles from the highway.
How is Tres Regalos being finished? Describe the quality.
Appurtenances: (Photos of installed/completed items can be viewed at the link below).
· Marble and Porcelain throughout the bathroom showers
· We have installed all of the kitchens, bathrooms, and built-in closets in the south building. (Counter top granite in south buildings' kitchens and bathrooms are exquisite.)
· All of the first class stainless steel appliances are installed.
· All windows and sliding glass doors are installed.
· All metal work is custom fabricated and installed on site.
· All of the balcony and window guard rails are installed.
· Custom doors are being installed.
· We are just putting the final touches in the 15 units of the South Building, including the custom lights and fans, and the Costa Rican wood base boards The North building will be finished in February, March. The South Building will be ready for occupancy by the 15th of February.
· All of the Italian Stainless Steel water faucets are installed in the kitchens and the bathrooms.
· Both Elevators are being installed.
· All central air conditioning units and ducts are installed in both buildings. We have completed all of the common hallway Spanish tiles and custom common area hallway guard rails in the south building
The North building interiors will be completed prior to February 20, 2015.
State of the art underground utilities and electric transformer are installed and operational in accordance with plans and specifications. All electrical, telephone, and cable TV are all installed underground. There are NO overhead wires in the project.
What is expected of owners and guests while staying at Tres Regalos?
Our standards are excellence, tempered with good common sense, values as to the common good of Tres Regalos. We have all walks of life here We ask that all respect our guests, their friends, their children as an essential part of this experience so that a good time can be had by all.
Why we live, work and invest in Costa Rica?
WHY WE LIVE AND INVEST IN COSTA RICA.pdf
When will Tres Regalos be ready for occupancy?
We will be finished with the South Building by the 15th of January and the entire project will be ready for occupancy before March 1, 2009. We are currently taking reservations for March 1, 2015 and beyond.
What kind of phone system will be provided to the home owners and renters?
As with all utilities, our phone system is state of the art technology. All units will have voice over IP and long distance charges to the United States will be less than 2.0 cents per minute. We will not use Skype as there are a number of providers now whose programs use fewer of your computer's resources.
We have ability to control all phones from our HOA office, and can change Long Distance Rates to a higher rate when your unit is rented. We will keep this rate below our local competitors and lower than the National Phone Company.
What kind of security can the home owners and renters expect from Tres Regalos?
Our location on the extreme north end of the beach minimizes our exposure to problems that many other projects in the center of town experience. We have contracted with a local company, Gecko Tech, for a state of the art wireless surveillance system consisting of seven closed circuit cameras strategically placed. Guards are posted 24/7; both on the beach and at the entrance and monitoring cameras from their stations. Management will be able to monitor the system from any computer in the world. We take the security of our new home very seriously.
What about Water and Sewer?
We have completed the 18,000 gallon underground water storage tank. This supplemental potable water will protect us from any water supply interruptions.
We have completed the installation of our self-sufficient waste water treatment plant. This system is as green as possible and operates by using biotechnology to clean the gray water.
It is state of the art, and certified by the Costa Rican Environmental Protection Agency as 98% pure and we have permits to flow this to the river and use for the landscaping.
Tres Regalos has our own onsite full service Property Management Company and, of course, you are free to work with whomever you want. We do not recommend giving exclusive rights to control rental of your condominium to any one company. Most likely, numerous property management companies will be soliciting your business. Feel free to ask us about any of them.
Owners entering into exclusive agreements with outside management agencies create a special problem with how to deal both with walk ins and those sent to Tres Regalos by unaffiliated sources and many rental management companies have not performed to their promises in the past.
Our policy is to encourage as many companies, individuals, travel agents and rental agencies as is possible to feed Tres Regalos with rental clients. Realize that travel agencies and other brokers will not represent places where they must share commissions with an exclusive agent. Our advice is to leave all options open; take advantage of every available rental resource, including “Rent By Owner” websites where you can control your own listings.
Most property managers here charge commissions of 30% and more and may charge as much as $100 per month to pay electrical, cable, phone bills, property taxes, etc. Annual reporting requirements for corporate/legal entities set up for ownership are normally additional.
Will Tres Regalos provide maid service?
We have professional on site Maids working for the Home Owners Association. We will clean your home based upon your cleaning schedule. As these Maids are employees of the Home Owners Association, cleaning fees will be lower than any outside service. Our maids are insured, known and trusted by us, and have worked in the local hotel industry for many years.
Does Tres Regalos have a Bar or a Restaurant?
Tres Regalos does not technically have a Bar or a Restaurant as it is a Private Beach Club. Tranquility is our number one objective, a bar and restaurant simply did not fit. However, for those of you who would like the services of a private bartender or a professional chef, we have them available to assist you with your party plans. Services are available poolside at our swim up bar and Barbeque, or in the comfort of your condominium; for private parties, weddings, and lucky fishermen.
We have over 50 bars and restaurants within 10 minutes of the project to satisfy every culinary desire and pocketbook. Many of these fine restaurants are just minutes away and deliver.
In addition, Tres Regalos Property Management will provide all Owners and Guests with a check list via email in advance of your trip. For a small fee we will fill your kitchen with whatever foods and drinks you desire to have waiting for you when you arrive. You can go straight to the pool or the beach and not have to waste hours shopping and figuring out the latest exchange rate. Personal shopping is another unique service offered by Tres Regalos.
Those who want to avoid problems with absentee ownership should appreciate our plan to insure Home Owner Fees stay at reasonable levels. Tres Regalos is built for permanence, ease of operation and low maintenance. Our HOA fees will be $350 per month.
We have watched as other projects in the area began their fees reasonably and within a few years escalated to what resembles a reasonable mortgage payment for a home. This will not happen at Tres Regalos.
Our plan is simple. Tres Regalos Property Management Company earns commissions from: rentals, tours, fishing, sightseeing, transportation, car rentals, bartenders, personal shopping, private chefs, and other income producing activities. Property Management will utilize office facilities in the front of Tres Regalos and share 20% of these commissions with the Home Owners Association to supplement the monthly fees to help minimize any future increases.
Low maintenance design, solid management, and good common sense will keep HOA fees low.
Can we obtain a mortgage on our unit?
Current Availability: We have negotiated the best mortgages possible with two different banks, Banco National who helped finance the project, and Scotiabank, a Canadian Bank with a long standing relationship in Central America. Currently the mortgage Rate is 7.5 – 8.5% with a variable portion that may kick in after 60 months, all negotiable with the Bank. These banks will require a 660 US Credit Score and two years of tax returns to verify your income and ability to repay the loan. The Banks will loan up to 70% of the Appraised Value of your Unit. The application process will take two to three weeks.
You must be able to verify your income; stated income has never been in use here. If you are self employed and have many write-offs to lessen your tax burden, this could be a problem. We recommend Banco National, the bank which has worked with us throughout this project. They will normally meet the competition. We also recommend Scotia, a fine international bank. We like to play on a level field.
What is there to do in and around Jaco?
Beach combing, surfing, canoeing, class 2 – 3 – and 4 white water rafting within one hour of Jaco, bird watching, hiking, bicycling, volcanic hot springs, canopy tours, waterfalls, championship golfing 10 minutes from the project, World class sport fishing at the Los Suenos Marina, 10 minutes from the project, three casinos in the area, Fine dining, snorkeling, diving at Drakes bay, The whole Caribbean coast to explore, ((the whole Golfito area to explore, (one of the most bio-diverse areas in the world)). Over 20 islands within 40 miles of Jaco to explore, boat excursions, sailing, Over 10 semi uninhabited beaches to discover within 1 hour of Jaco, Arenal active volcano, monkey tours, crocodile tours, more than ten national parks and biological reserves to visit and explore. The list goes on and on. In a lifetime you will only see a small portion of the beauty and abundance of Costa Rica.
How Much Are Annual Property Taxes?
Property taxes (Municipal Taxes) are ¼ of 1% of the declared value. As in the U.S. assessors are bombarded with requests to keep these values low and generally have cooperated. Declared values are currently nowhere near the true value of the properties.
The municipal tax is administered at the municipal level and varies throughout the country. Paid quarterly, the type of property, location and other factors contribute to the calculation of this tax and MUST be shown to be fully paid immediately prior to transferring title.
What about PayingTaxes When I Sell?
A nice incentive for foreign investment is that there is no capital gain tax. The Costa Rican government will not tax you on the profit from the future sale of your property as long as you simply transfer the shares in your corporation that holds the title of your condo.
Tres Regalos does not provide tax advice, so please contact a tax advisor with experience for foreign filings! There are many strategies to consider depending on your personal situation, and I would be happy to share whatever knowledge I have learned from my eleven years from living here.
Who Pays The Sales Commission?
Prices for property in Tres Regalos are inclusive of all commissions to brokers/real estate agents. Should you be represented by a “buyer's agent”, this agent will share in a fixed commission; or if only one agent, one commission will be due to the person earning it.
Can I Have Title In My Own Name?
The decision to have the property that you are buying in Costa Rica in your own personal name, a trust, or in the name of a corporation or any other legal entity is your decision. Consult your advisor/attorney. We will be transferring Title to your Condominium within the framework of a Costa Rican Corporation. With Title held by a Costa Rican Corporation you are provided with the greatest amount of anonymity, and when it comes time to sell your unit, all you have to do is transfer the shares to complete the sale. The sales price remains a confidential matter between the Buyer and the Seller. This has MANY ADVANTAGES.
How Can I Ensure Clear Title To The Property?
It is important that you or your attorney take the necessary steps in order to properly register the property, and more importantly, be assured that the property in question is free of all liens and encumbrances before buying property in Costa Rica.
With transfer of title to property in Tres Regalos comes a guarantee of valid and merchantable title free and clear of all encumbrances, delivered in compliance/accordance with all plans and specifications; meeting and in most cases, exceeding. Banco National has funded a substantial amount of the construction of Tres Regalos. They would not have lent over one half of the building cost if they had not done their homework and had their legal department assured free and legal title. The property is currently held in Trust by Banco National and Tres Regalos and the Trustee is Banco Improsa.
Tres Regalos has always been represented by competent counsel. We have used the same legal counsel for years and are happy to recommend our friend Lourdes to assist you; should you desire legal assistance.
Of interest to North Americans is additional security offered by Chicago Title, Stewart Title and First American Title and other. The title companies charge up to three percent and we do not recommend them over a good lawyer.
The Registro Nacional (National Property Registry) is located in San Jose - Zapote, where all property documents are recorded, thus a title search at the Registry by a competent lawyer would confirm good title and proper ownership and eliminates the need for Title Insurance here.
We hope this document answers your questions regarding Tres Regalos, but if we can help you answer any others, please contact me and I will get back to you ASAP.
Contact: FLOR GONZALEZ NAVARRO
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