Playa Lagarto Eco Developement

Hi, I'm looking in purchasing a villa in this project, I have a lot of questions, maybe you guys could help me, 1st off, where can I find a financial adviser that is an expert in buying in Costa Rica? Many people have suggested to get your own layer, do you mean from Your country or Costa Rica ?

Hello Julie et Bri,
We used the lawyer provided by Recap as it is them who did provide us with all the land entitlement.  Not sure how you can go around this.  We even used this same law firm to get our Pensionado paperwork processed.

Hi ermac,
Ty for your response,
I will use there layers if I go for it but so many people on this forum suggest to get your own on top of it ? I have to make a decision in the next 10 days, any advise you can give me would be great. Your living on site, right ?
Would it be possible for you to send me pics of lot where villa # 56, will be built , that's the one I'm looking to buy, I find that there's not to much info.
I find this development isolated, if you don't have a car, what options do you have to travel to tamarindo?
Ty so much for your help !!!

Hi Joan Marie,
I would also like to have pics and talk to you if possible.
I have to make a decision in the next 10 days !
Ty so much !

Making a decision, when there is a time limit set by the developer, is not a good idea, in my opinion. Check out comparable development opportunities, along the beach areas,  which are in the 100's. You will find many that have closed down for a variety of reasons.
You owe it to yourself to perform due diligence with your feet planted firmly on the ground and your rose-coloured glasses, set aside.

Don't set yourself up for buyers regret, as buying property here is very easy...and selling is very difficult.

My comments are not specifically aimed at this particular development.

Ty !

We came to Costa Rica looking for property in 2010.  I have numerous different development areas bookmarked and just for fun about a month ago I went through the list and two thirds of the bookmarks are no longer in existence.  Not a good average.  We are extremely pleased that we bought where we did.

Hi guys
My friend fay came this past summer and spoke with you. She told me that the roads need work. Have they improve on the roads? How  many houses are built in the community. She also mentioned that the skeleton of the commercial building were up at the entrance. What is the progress on that. I gather the construction due to our dollar gone slow. Am I right?

Hi terry via,
Can you tell me where you bough ?
Have you heard good things about recap, there not on your list of them that disappeared , right ?

I don't know if Recap was around when we were looking so I cannot comment on them.  We looked around Lake Arenal, the Central Valley, the Orotina area, the Puriscal area, and all down the Pacific Coast and up to San Isidro de General.  We came down to two developments that we felt comfortable with and were firmly in place (houses in the community and people living in them year round).  We were interested in Altos Los Cafetales and the one that we ended up buying in is Altos de Antigua.  We started construction of our home in November of 2013 and we moved in October of 2014.  There are 18 houses in our community and 9 of them are full time in Costa Rica and the rest are either rental or belong to Snowbirds.
Cheers .... Terry

Hello Julie et bri,
We also used the Recap lawyers who are located in San Jose, CR, because like most people we had no way of vetting other lawyers in CR. That said, I did research the company online and fund them to have a good reputation.  I think you will find that most of the people who have purchased land at the Playa Lagarto Eco-development (PLED), did it through Recap!  "please correct me if I am wrong about that!" Our purchase went smoothly apart from a  couple of typos which were corrected before we signed-off on it.

From what you have written, it sounds as though you have not visited PLED, so I would strongly recommend that you do that before you purchase land.  PLED is a genuine development that is in a very nice location with many of the lot having distant ocean/jungle views (1-2 miles).  I have now visited our LOT twice and plan to visit again next year to check on progress that has speeded up since my first visit in 2013. So don't feel panicked into buying a lot before you get to go and walk on it, as there will always be an opportunity to buy a LOT from owners that change their mind or their personal circumstances change and they can't follow their dreams!!

Roy_F wrote:

Hi sungazer,
I would suggest you use your own lawyer as I have spent tons of time correcting and changing contracts and agreements.
It is a pleasure to work with people in Toronto. They are very supportive but documentation side of the land sale and house construction is a mess. Maybe it is OK to have agreements in such bad conditions in Costa Rica but it is not acceptable for Canada and it may cause problems if you then will try to sale your property.
I did not see the land but I have pictures and topography of the lot and know how it looks. I am planning to go to Costa Rica in the beginning of December. It will be a dry season over there and we may spend a few day on the beach

I Ty for your response burnebob,
Roy and a few others on this forum strongly suggest to have your own layer, he says there was a few problems, not sure what to do.
No it's impossible for me to visit and it's for a villa they told me it was the last one ? Not sure if there truly honest. If I wait I figure prices are gonna go up. Have you driven from tamarindo? How long does it take ?
Ty so much for your help !!

Forgot to ask, what's topographie?

Julie et Bri,
The drive from PLED to Tamarindo is about 40-45 minutes right now.  When the wet season is over and the road has been grated, it will take 35-40 minutes to drive to Tamarindo.

Julie et Bri,
Did you asked yourself "why Recap not posting on line the PLED map showing the sold lots" so you can see yourself how many lots available ??...you can only guess if what they said it's true...

Wow they were saying 20 mins. I had my doubts. Ty 

Hello Julie et bri,
As I mentioned I had some typos in my documentation also "lost in translation!" and my Spanish is rubbish but fortunately I have a close friend who's first language is Spanish, so between us we were able to make sure  all was correct. That said, Roy-F is way ahead of me when comes to working with Recap and the people at PLED, so he has more experience with the purchasing and building process.

I hope everything works out for you and maybe we will all be neighbors sometime in the future.

Kind Regards Bob.

Pass on it!!  There will be another chance, I'm sure...
The roads will keep deteriorating, especially on a hill, year unless they covered in black top (tarmacadam or cemented) and this is a fact of life here.
Plenty of other choices....and it is better to purchase in a development that is already established, as TerrynViv stated.

Just because it is being developed by Canadians doesn't make it 'a sure thing'. And yes,if you decide to purchase anything, get your own lawyer.

I suggest you go to the beginning of these posts and read earlier comments regarding distance to stores and a hospital, if you haven't already, especially those by Joancr, that start at #23 who has lived in the area for many years.

We had an "OPPORTUNITY" to get in on the ground floor with a Canadian investor in the vicinity of where we live now.  I remember the spiel ....... buy four lots for $100,000 and in a year sell three of them for $100,000 each and you will basically have a house for nothing.  Ironically that property is on the way to where we live now and it is EXACTLY the same as it was in November of 2010, a jungle.  I cannot stress enough that you should be boots on the ground and do your homework.  And by the way, I am not knocking Canadians, I am one. (just saying "buyer beware").

TerrynViv,

We live full time on site.  12 villas seams already finish ready to move in, ~30 that are being built as we speak, 2 houses with full time resident and ~ 20 houses being built or already finished.  M-C

That is Kewl and very important for future investors to see.  That was the reason we bought where we did.  Pura Vida!!!

.?Kewl, what does that mean ?

Cool ........... an expression that us oldsters used to say with a variation on the spelling

You mean because it had been started ?

Even if construction is happening, I don't advise you to purchase anything until you have seen the area and development for yourself.

BTW have you looked in the legal residency requirements if you are looking into moving here full time?

And how the Canadian government could affect your decision.

Yes, that is a plus.  We looked at MANY developments and about 75% had no construction started so that means out of the 75% not having any construction only a few are still in existence.  There is NO WAY in this world that I would buy property sight unseen relying on someone else's observations.  This is my opinion only as it is a recipe for disaster.

Hello kohlerias,
Thank you for your generally good advice about Costa Rica.  However, as a lot owner at the Playa Lagarto Eco-development,  I am curious who you are and why you tend to be somewhat negative about Recap and PLED?  Have you visited the site or had a bad experience with recap?
I ask these question because like many people on this blog we have a financial interest in seeing this development finished unlike many I have seen in CR. 

Best Regards Bob.

As previously mentioned, I am not against this particular development...just feel that one should perform their due diligence in person, before purchasing any property, prior to putting down the cash...and not believing everything one can read on the 'net.  Just by saying 20 min. drive to other towns instead of how long it actually takes is wrong...although we know a Tico driver may get there faster...   While 20 min. or possibly a 40 min. drive doesn't sound too bad, while on a short vacation, but after a while it will 'get to you', when everything is 'happening' at this distant spot.

If possible, take the time to rent in the immediate area or at least visit multiple times and really get to know if it offers what you really need....and if not, look somewhere else. If you are looking at a future rental unit, take into consideration what vacationers really want.

I was pleasantly surprised when it was mentioned how many homes were already been in the construction stage, especially when there is only artists rendering on the website and no regular updates. This usually means nothing is happening.

I have lived and worked here for many years and have seen sooo many developments that consists of only fancy gates...and full of overgrown vegetation. I have met many people who have lost just about everything after relying on a unscrupulous agent or lawyer who they have trusted to work on their behalf. I also know many people personally, including Canadians who have websites promoting 'projects' that are full of 'untruths'.

We are part of an small investment group that is currently (going on 4 years) involved in a law suit against a well known Liberia lawyer who had altered paperwork to transfer a large expensive piece of land in the Playas del Coco area into his own company. While the prosecutor agrees that there is a very good case against him and his wife....lawyers are 'very hesitant' to go after other lawyers. We have dealt with those 'high up' in the municipal offices that have offered to use municipal funds and equipment intended for the towns benefit, to gain financial benefit for himself.

Wow, thats pretty good, encouraging !!
Si sa te dérange pas trot, pourrait tu prende des photo de ceux de bâti et l'entourage puis mes envoyer quand t'aura la chance ?
Jai pas acheter encore et je sais pas quoi faire 
Merci

Ty for your advise, yes i did read from the begging and I'm following this forum closely, I will take any information I can !
Ty

Hello ERMAC
Great news on the building progress can't wait to see it all when I visit next year.

Kind Regards Bob.

You will see a huge difference Bob ! It is quite changed.
M-C

Hi ermac,
Did you rec'd my msg. In your inbox ?

Allo ermac, oups sorry it's not an inbox, it's on the comments it was a reply to one of your comments, did you see it ?
Ty

Julie et Bri, I sent you a couple of pictures on your private e-mail.

Oh, did not rec'd    I will give you my email again in private msg. Ty so much !

Hello Ermac,
If you get the opportunity to take some more photos of other construction projects at PLED next time you are out and about, feel free to send them to my email address.  My family enjoyed seeing and hearing the Howler Monkeys in the movie you made, I'm pleased to see they still around!  Enjoy your walks.

Many Thanks Bob.

How much does the Canadian govt tax us on international income ?
Can someone help me with this ? Is it a deal breaker ?

Allo, Ermac,
I would also love to get videos and more pictures, anything you already have would be great !!!
Ty ! Pura vida !!