Tamarindo Real Estate
Mark Price - Admin
Tamarindo, GU Phone: 506-2653-1604 Mobile: 506-8918-3592 Fax: 506-2653-1604 Email Mark

Tamarindo Real Estate Buyer´s Corner


Every Tamarindo Real Estate buyer needs to have excellent legal representation whenever purchasing real property in Costa Rica, and, quite frankly, a pleasant first experience here will not only forge a solid relationship between you and your legal representative, but will also pave the way for future success for you in whatever business endeavour you may take on in the years to follow.

One very prevalant factor here is that little is known about after sale customer service. This is across the board in every aspect of doing business in Costa Rica. However, there also exist consumate professionals who go above and beyond the call of duty, but unfortunately this is not the case for the vast majority.

Our aim is to supply our customers with compentant  professionals  who truly care about our customers ¨After Purchase¨. From accountants, physicians,  architects, contractors, immigration and tax attorneys, including but not limited to  where to  find the very best in accomodations in this country´s beautiful ecosystems and national parks, restaurants and beyond we are here to help.

 

 


Your Tamarindo Real Estate Team

                                           Tamarindo Real Estate Buyer's Guide

 

 

Your Agent
A successful purchase starts with the right representative. In fact, once you’ve selected the best agent to represent you, it is likely that he or she can recommend other professionals to join your team, taking more of the responsibility off of your shoulders. Sol Realty-Tamarindo Real Estate

Lender 
Though this is by and large a cash market. Our recommendation is to take out loans in one's home country using collateral based in that country. This can be based on home equity, stocks, bonds, or even a self-directed IRA in the case of US citizens. The most important advantage of doing this is that interest rates are still at historical lows and this looks like the trend despite the recent rate hikes by the world's central banks.   On occasion some sellers may offer financing to their buyers but usually at higher rates than in the US or Canada.  Having the right lender can be extremely important – it is your money we’re talking about after all! Make sure that your lender and financial representative is someone with whom you feel comfortable, and be wary of any lender who promises you more than you think you can reasonably afford.

Lawyer
Your home purchase is far too important a transaction to skimp on legal representation at the risk of leaving yourself open to costly future issues. Find a lawyer who is willing to take the time to answer your questions and who specializes in real estate law. Also of importance is to have clean files of the origin of the funds used to make the purchase, this would include bank statements, tax returns, ID's. loan documents etc, due to regulations in the fight against money laundering, terrorism and narco trafficking. 

Home Inspector-Survey Verification
No home inspection is 100% guaranteed, but a few hundred dollars to catch a major problem now is certainly better than many thousands to correct that ‘surprise’ down the road. Ask your agent and or attorney for a recommendation. 

Contractor
Planning some renovations? You’re not the only one! The home renovation industry is booming, and in some markets, booking a contractor must be done months in advance (that’s a long time to go without a kitchen). Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother, and you contractor will appreciate the advance notice. 

Insurance-There are a number of insurance providers in the country but the mainstay is INS (Instituto Nacional de Seguros) whose track record is flawless. Being a state institution its polices are backed by the full faith of the Costa Rican government. Fire, flood and and earthquake polcies run an average of .0025% of the replacement construction value. 

 

 


Your Tamarindo Real Estate Plan


1.  Find the right representative

Even if you’re not quite ready to buy, your buyer’s agent can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise.  Speak to your agent first and he or she can be helping to guide you right from the start.

2.  Find out what your price range is
Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval.  Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating).

3.  Find out what your local market looks like
The internet can be incredibly valuable in doing preparatory research.  Start with your agent – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you (or at least give you a better idea of what your needs and wants are).

4.  Find out what your true needs and wants are
Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your real estate agent.

5.  Find your dream home!
Once you’re ready to act, you may be surprised by how quickly you can make a decision.  Armed with your pre-approval, a little market knowledge, and your needs/wants list, call your real estate agent, hit the pavement, and when you see ‘the house’, put in an offer. 

With the right team behind you, it really can be that easy!


Your Tamarindo Real Estate Calculator


Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Your Tamarindo Real Estate News

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