Frequently Asked Questions List
As I get new questions that are not already answered on other pages
- I will answer them here:
ID. Number 6-54801-16: Lot 8 / Measure 738.39 m2 (home on this lot) = 7948 square feet
I used convertit.com to do the conversions.
ID. Number 6-54801-39: Lot 9 / Measure 692.68 m2=7456 square feet
ID. Number 6-54801-40: Lot 10/ Measure 662.53 m2=7131.41 square feet
ID. Number 6-54801-37: Lot 11/ Measure 587.10 m2=6319.49 square feet
ID. Number 6-54801-38 : Lot 12 / Measure 488.07 m2=5253.54 square feet
Minimum amount down for owner financing?
Financing at 6% interest with 20% down. The term will be determined by what is bought. Buy one lot for $49,000 for instance with 20% down, or the whole package at $469,000 with 20% down. Term on a lot or two might be 6-10 years, or on the package perhaps 20 years. Owner is willing to be creative with the right Buyer.
Where does the mortgage payment come from that is to cover my expenses?
The mortgage I hold is for the lot behind Lot 12, which sold for $50,000 in 2012. For 15 years I receive $359/month, which is paid directly to my attorney. She then manages all payments for services and taxes on the home. Pays Corporate and property taxes, gardener/pool guy, water, electric, association dues and her management fee. There is money left over after covering all of these expenses, so there is no burden of ownership. Just lock it up and leave.
What is the breakdown of the monthly expenses?
The cost of ownership for the home breaks down as follows:
Gardener/Pool Guy = $150/month
This includes cutting grass for lots 8 through12, watering flowers and fruit trees, cleaning and maintaining pool and keeping the home clean. (Paid by bank transfer in Costa Rica by my attorney monthly).
Electric = $5/month
Water Bill = $10/month
Property Taxes = $400/yr.
Corporate Taxes for Freedom Won, Inc. - LTDA = $200/yr.
Management Fee to Attorney = $115/month
Association Dues = $500/year
I believe that comes to $330/month expenses, but that's actually high, as my Attorney usually hands me $1,000 cash when I come down each year. So expenses must be under $300/month. No upkeep. House has tin roof and concrete construction and is indestructible.
Age of Appliances
All the appliances and furnishings down to linens and cookware are new. This is a turn-key furnished home.