Tamarindo Oasis Condominiums

1. Where is Tamarindo Oasis located?
The Tamarindo Oasis Condominiums are located on the main road from Huacas to Tamarindo approximately 800 meters from the beach and the entrance ofTamarindo.

2. What amenities do the developers plan to include in the project?
A large swimming pool, a fitness center, a children’s playground, extensive tropical gardens, a commercial center with 26 leased spaces, underground parking and continual shuttle services every 1/2 hour into Tamarindo are planned for the Tamarindo Oasis community.

3. How close are the condominiums to the beach?
The community is located just half a mile from the estuary entrance and the beginning of Tamarindo Beach. There will be continual shuttle service throughout the day and early evening that will take residents from the condominiums to the various beach access points as well as into downtown Tamarindo.

4. What types of condominium units are offered?
The Tamarindo Oasis condominiums offer four main unit types. There are two styles of one-bedrooms, a two-bedroom style and a three-bedroom style. There are also six penthouse units(3 beds, 3 and 1/2 baths) .

5. How big is each of the condominium units?
The first one-bedroom style measures 38 square meters (409 square feet) and the second one-bedroom style measures 47 square meters (506 square feet). The two bedroom units measure 73 square meters (785 square feet) and the three-bedroom unit’s measure 87 square meters (936 square feet). The penthouse I units measure 180 square meters (1938 square feet) and the penthouse II units measure 224 square meters (2411 square feet) .

6. How many condominiums are there total?
There are 72 units and 6 penthouses for a total of 78 condominium units.

7. How many buildings house the 78 condominium units?
There are five planned condominium buildings. Building 1a houses both styles of the one-bedroom units, buildings 2a and 2b house the two bedroom units, and buildings 3a and 3b house the three-bedroom units. The penthouse I are located on the 4th floor of buildings 2a and 2b and the penthouse II are located on the 7th floor of buildings 3a and 3b. In addition to these buildings, there will be the commercial center area.

8. Would this project be a good investment for an absentee owner who may come to Costa Rica only once or twice a year?
Absolutely! It is being designed to offer amenities and services that are very attractive to short-term vacationers. With on-site property management, this investment will provide excellent rental income.

9. I have seen other property listings in Tamarindo and prices are sky high! Why are Tamarindo Oasis units so affordable?
The single factor that dramatically increases prices is oceanfront and ocean view… you pay dearly for this commodity. Since these units are, close to the beach but do not have ocean views (except four top floor units in one of the three bedroom towers) the prices are much more affordable.

10. How many floors does each of the buildings have?
Building 1a has six floors, building 2a and 2b have four floors each and buildings 3a and 3b have seven floors each. The commercial center building will have two above ground floors with under ground parking below.

11. How can I obtain a parking space, and how much will it cost?
Each unit has a parking space, there is some undeground space available for $15.000 each one.

12. What is the payment structure for the Oasis Tamarindo Condominiums, and how does it relate to completion of the project?
First, a $5,000 deposit will be required to secure your unit. This deposit is refundable in the event that the developer does not obtain all the necessary permits. The developers expect to receive the permits by approximately April 15, 2007 and at this time; you are required to increase your deposit to 10% of the purchase price. After this point, the deposit is no longer refundable. At the start of construction, which is estimated to be April 15, 2007, an additional payment of 30% of the purchase price is required. The rest of the payment schedule is structured around the building and completion of the units. This is expected to take approximately 18 months. The payments are as follows; 15% at the completion of grey work on the 3rd level, 20% at the completion of the roof on the building in which your unit is located, 15% at the completion of ceramics on the floor of your unit and lastly the final 10% upon the completion of work on the building in which your unit is located. This is all clearly stated in the Purchase Agreement Contract.

13. Is financing available?
Some Costa Rican banks finance. Stewart Title & Mortgage has some financing for US citizens.

14. Do they have security staff?
There will be 24/7 manned security as well as electronic surveillance cameras throughout the Oasis community.

15. Do the developers have enough water to run the project?
Yes. The development is connected to the ASADA de Tamarindo, which is the association in charge of providing the water to the town. The developers have an official letter from the ASADA de Tamarindo saying that they have sufficient resources for the project and that they will provide water to the Oasis Condo community.

16. Do the developers have a wastewater treatment plant or septic tanks?
The developers will provide a wastewater treatment plant for the community.

17. What type of roads are the developers planning to put in?
The developers will pave all internal roads and walkways.

18. How much are the Condo Owner’s Association fees?
The Association fees are estimated to be $125 - $350 dollars per month depending on the size of the unit. .

19. When will the developers be offering the commercial spaces for rent?
The two story commercial center will hold 13 spaces on each floor. The 26 spaces will begin leasing in approximately June 2009.

20. How much are closing costs?
The purchaser’s closing costs will be a flat fee of $1,000. This cost includes the setup of a Costa Rican corporation, transfer of all corporation shares to the purchaser at closing, nomination of the corporation’s Board of Directors (with names of the purchaser’s choice) and all associated attorney fees.

21. How much do I have to pay for annual property taxes?
1/4 of 1% of the property value (0.25%). That means that it would range from approximately $170 - $490 annually depending on your unit size (1, 2 or 3 bedroom).

22. How is the common area assigned?
The Condo Owners Association owns the common area. Each condo owner will own a certain percentage of the common areas, and the percentage will be related to the size of the condo. Therefore, a larger condo owner may own a slightly larger percentage than a one-bedroom condo owner.

23. How can I get telephone lines, cable TV or Internet?
All these services will be available on site. Phone will be provided through a central phone system, cable TV through one of the local cable companies, and Internet through a private local company. The onsite property management company will manage all these services.

24. How far away are the airports?
Tamarindo airport is located 3 minutes back towards Villa Real on the same main road and Liberia International Airport is located 1 hour away.

25. Are there any good restaurants around?
Yes! There will be very good restaurants onsite and in addition, just up the road in Tamarindo there are 40+ excellent restaurants offering a very wide array of typical as well as foreign cuisines.

26. Where is the closest golf course located?
There are two 18 hole professional golf courses located within minutes of the Condominiums. The Paradisus Playa Conchal is located between Huacas and Brasilito about 15-20 minutes away from Tamarindo. This 5 star all-inclusive resort offers a Robert Trent Jones Jr. designed course. Hacienda Pinilla is a gated residential and golf community approximately 4km south of Tamarindo. Hacienda Pinilla is home to a lovely course designed by Mike Young.

27. Can I get a membership at the golf course?
Yes, Hacienda Pinilla memberships are available and you are also allowed to play at the Paradisus Playa Conchal. We recommend joining the Costa Rica Golf Association, which provides for lower golf fees all over Costa Rica and only costs around $100 annually. You are then allowed to play at both of these courses and others for 1/2 price per round.

28. Where do we buy furniture and other items for my condo or do they come furnished?
Appliance and furniture packages will be available for the condo. The projected costs for the furniture packages will be $7,000 for a one bedroom, $9,000 for a two-bedroom, and $11,000 for a three-bedroom unit. The basic packages will include; dishware, artwork, towels, furniture and the unit will be ready to be rented upon completion. The projected costs for the appliance packages will be between $1,500 and $8,000 depending on finish and model. In our area there are also several home furnishings stores as well as places that will order desired
merchandise for you.

29. How can I get residency, how much does it cost and how long does it take?
Residency is not required for condominium ownership; however, we can suggest an attorney to assist you, if desired.

30. Where is the closest hospital located?
There is a private Emergency Center with ambulances located 5 minutes away, in Villa Real. General Hospitals are located in Liberia 1 hour away and Nicoya 1.5 hours away by car.

31. Who will maintain my condo when I’m out or can it be rented?
The developers will arrange to have a Property Management Company on-site that can provide property maintenance and rental services.

32. What is the anticipated rent for the units?
The rent projections will vary for each type of unit. The one-bedroom units will most likely obtain $620/week during the low season and $710/week during the high season. The two-bedroom weekly rate will be approximately $760 during the low season and $850 during the high season. The three-bedroom units are projected to run $850/week during the low season and $1150 per week during the high season. The rental occupancy throughout the year is expected to be between 75% and 85% for the first year and will likely increase in coming years.

33. What about schools? Are there any private schools in the area?
Yes, a reknowed international school in Guanacaste is located 25 minutes away near Playa Conchal. Country Day School goes from kindergarten through twelfth grade. Another international school located just 10 minutes away driving from the project, the PInilla Academy is scheduled to open mid-2007.

34. Do you have ocean view condominiums & which units are they?
The building 3a that houses three bedroom units is expected to have ocean views on its 5th and 6th floors. Therefore units 9, 10, 11, and 12 in this building will possibly be offering these views. (3A-5-9, 3A-5-10, 3A-6-11 and 3A-6-12) … not guaranteed, but highly likely.

35. Are there any grocery stores nearby?
Within the immediate area there are 8-10 small supermarkets and there will be additional stores on-site as well. Several of the larger “supers” in Tamarindo offer a wide array of imported North American and European foods and personal hygiene products.

36. When can I move in?
The owner can move into their unit upon completion of the building in which their unit is located. At this time the final deposit has been made and the transaction has closed.