Welcome to Bella Collina

How large is BELLA COLLINA and how long will it take to develop?
BELLA COLLINA consists of 60 hectares (150 acres) divided in two phases. Phase I (the Oceanside Village) has 13 hectares (32 acres), and the expected timeframe for development is three and one-half years.

Who owns/manages BELLA COLLINA?
BELLA COLLINA is owned by Rivali Development Group, S.A. (American and Costa Rican investors), with real estate experience in the US, Costa Rica, Asia, and Latin America.

What is the timeline for construction?
Horizontal construction (roads, land clearing, utilities, etc.) has already commenced. Vertical construction (entrance, townhomes, condominiums, and Single-Family Tuscan Villas) commenced in December, 2006, and the first residences will be ready to move in by the winter of 2008. The Tuscan Model Home Sales Center will be available for viewing in December, 2007

Will BELLA COLLINA have security? Is it safe?
AAbsolutely. BELLA COLLINA is a private, gated community that has 24-hour security to ensure your privacy and safety.

Where is the Sales Center located?
The Sales Center of Bella Collina is located in Tamarindo, 100M north of the Iguana Surf Building. The address is: 101 Mango Center, Tamarindo, Costa Rica.
Sales Center:
CR: 506-653-1545 . Toll-free in the US and Int'l: 800-721-0896

Does BELLA COLLINA have beach access?
BELLA COLLINA is an oceanfront community and will have direct beach access to Playa Real from its oceanfront resident club. There are also several additional beautiful and tranquil white-sand beaches within minutes of your residence, like Playa Blanca (Flamingo), Playa Tamarindo, Playa Langosta, Playa Conchal, Playa Brasilito, and Playa Grande.

What are the amenities located within the community?
Bella Collina has a variety of romantic Tuscan inspired amenities include an Oceanfront Beach Club, several piazzas, cafes, restaurants, a bakery, winery, cigar bar, deli, Italian gardens, walking paths, BBQ areas, and three smaller clubhouses and pool areas.

Is there shopping close to BELLA COLLINA?
Small convenience stores are located within a three-mile radius. Only 20 minutes away, Flamingo, Tamarindo, Conchal, and Brasilito offer larger supermarkets, local shops, retail stores, and other convenient stores. Bella Collina will have a full-service restaurant located on the property, which is scheduled to be fully operational in the second year of construction.

How close is the nearest medical facility?
We have doctors on stand-by in Huacas, just 10 minutes away. And a full-service hospital is located in Liberia, which is only 45 minutes away.

Which is the closest airport to BELLA COLLINA?
All private and commercial aircraft are required to clear Customs and Immigration in one of the two international airports: Juan Santamaria International Airport in San José or Daniel Oduber International Airport in Liberia. Visitors to BELLA COLLINA should fly into Liberia airport, as it is significantly closer to the community. From there, it is only a 45-minute drive. From either airport, one can also take one of 12 daily scheduled flights to the Tamarindo Regional Airport. BELLA COLLINA is only 20 minutes from Tamarindo Regional Airport.

Where does the water at BELLA COLLINA come from? Is it included with the maintenance monthly fee?
The water at BELLA COLLINA comes from different wells within the project. It is 100 percent potable water, and the cost is not included in the maintenance monthly fee. The residents will be billed for water consumption directly from the municipality.

What are the approximate anticipated costs for consumption? Approximately $0.02 USD per liter

How is sewage handled?
There are treatment plants on property; sewage is included in the condominium association fees.

HOME SITES

How much are home sites?
Our ocean-view home sites range in size from 450M to over 3000 m² (5000 sq. ft.-33000 sq. ft.) and prices vary, depending on size, land topography, and views. There are currently 13 one-quarter acre home sites being offered in the Oceanside Village, starting at $300 per meter.

What can I build on my lot?
To protect BELLA COLLINA from over-construction, we do have some limitations with regards to construction. One single-family residence can be built per home site. Home site specifications are available at your request.

Do I have to use BELLA COLLINA’s architects or can I use my own architects and plans?
Certain home sites allow you to choose the architect you desire for the design of your house. We only request that you submit your plans to BELLA COLLINA's architectural committee for approval to ensure that certain quality standards are met and rights of view are protected.

Does BELLA COLLINA have a construction company or do I find an independent builder?
BELLA COLLINA has selected a pre-approved exclusive group of builders to use for the construction of your Tuscan Single-Family Residence.

How much is the construction cost for a house?
The general construction cost of a luxury home can range from $100 to $175 per square foot, depending on the materials and finish chosen.

Are there any restrictions for foreigners to own property in Costa Rica?
Foreigners have the same rights as Costa Rica nationals when it comes to owning real estate in Costa Rica.

How much are estimated maintenance fees for the Single Family Villas?
$600 per month for villas and home site.

What do the HOA fees cover?
Landscaping & maintenance for common areas Clubhouse maintenance (pool maintenance) areas
Provisions for future repairs
Garbage disposal
Air conditioning preventive maintenance
Common areas insurance
External/internal plague control
Around-the-clock security
Sewage
24 Hour Concierge Services

CONDOMINIUMS/ TOWN VILLAS

Do condominiums have their own pool and security?
Yes. All condominium and townhome residences have their own common areas (piazzas, spas, walking paths, amphitheaters, gardens, pool, etc.) and security.

Can I rent my condominium out?
Yes. We have an in-house property management company to provide rental services for residents at BELLA COLLINA, which includes bill paying, property rental, cleaning, and overall management. The fees for the property management will run approximately 30%.

Can I get cable TV or Direct TV? What about internet service?
Cable, Direct TV, and high-speed Internet will be available throughout the community.

Will parking spaces be assigned at closing or assigned usage by management upon property arrival?
Up to two parking spaces will be assigned upon arrival to the property. Permanent parking spaces can be purchased at $10,000 each.

Will you allow upgrades to the Feature List and Specification sheets at Buyer’s expense?
Yes. Certain requests may be approved for three bedroom and penthouse units.

How much are estimated maintenance fees for the Condominiums and Town Villas?
$0.35/sq. ft. under 1500 sq. ft.
$0.25/sq. ft. over 1500 sq. ft.

How many condominium associations are in the project?
One master association and 4-6 sub associations.

EXPENSES

How much are maintenance fees?
The general BELLA COLLINA homeowners' association determines the maintenance monthly fee, which is estimated to range on average from $350 to $700 per month for most residences. All fees are established by the homeowners' association of which each owner is a part.

Condominiums and Rainforest Town Villas:
$0.35/sq. ft. under 1500 sq. ft.
$0.25/sq. ft. over 1500 sq. ft. for condos

Lot + Single-family Villa @ $600/month

What will each one be made up of and what will the expense line items that the homeowners’ or condo associations cover?

Landscaping & maintenance for common areas
Clubhouse maintenance (pool maintenance) areas
Provisions for future repairs
Garbage disposal
Air conditioning preventive maintenance
Common areas insurance
External/internal plague control
Around-the-clock security
Sewage
24-hour Concierge Services

How much are real estate taxes?
Real estate taxes are 0.25 percent of the property's fiscal value, and they are paid annually.

How much would it cost to have my property insured?
Approximately $1 per square foot per year: Example 1200 sq. ft. condo, $100 per month. The property would be insured for fires, floods, and earthquakes and is insured by the Costa Rican government-owned corporation INS.

CLOSING

How much are closing costs and what do the costs include?

The published legal costs for closing are the following:

Legal is approximately: 1.25%
Taxes/Transfer: 2.3% (1.5% Transfer Tax, 0.8% Doc Stamps)
Total: 3.85%

Bella Collina legal services is offering the closing services discounted rates absorbing some of the costs for the buyers:

Legal: 0.75%
Taxes/Transfer Tax: 1.5%
Total: 2.25%

Is title insurance available?
Yes. Title insurance is available through both Chicago and Stewart Title. We recommend title insurance through Chicago Title. The cost is approximately 0.8%-1% of the cost of the unit. The title is backed through Chicago Title USA’s $1.4 billion public fund.

The cost is above and beyond the closing costs mentioned above.

Can I use my own attorney?
Yes. You may use your own attorney at your own cost.

How long does it take to close?
Closing is very convenient and fast. It can take less than 24 hours, depending on how much time it takes to make the payments.

Do I have to be in Costa Rica at closing?
Not necessarily. You can give the power of attorney to close if you are not in Costa Rica.

Why does BELLA COLLINA sell real estate through corporations?
There are several reasons why our properties are structured as corporations. First, there is no sales tax on the purchase of a corporation, which saves you 13 percent of the sale price. It also protects you from personal liability in case of accidents or suits from third parties. The property is inherited by your beneficiaries without transferring the title, thus reducing costs. Resale is also completed without costly title transfer. If you have an IRA in the United States, the IRA can be the owner of the shares of the company. In addition, as an owner of a corporation, you can buy a cell phone, a car, or get a phone line connected in Costa Rica. Non-residents do not have this purchasing ability. The only way to make this type of transactions is by either being a national/resident of Costa Rica or the owner of a corporation.

PAYMENTS/ RESERVATIONS

Can I reserve a home site?
A potential buyer can pull a home site from inventory and lock-in a price with a minimal deposit on a contract. The contract will then be considered "soft", pending a 45-day due diligence/travel inspection period. At that point, the contract will go "hard" with the remaining deposit schedule due.

Can I reserve a Condo/Townhome?
A potential buyer can pull a condo/townhome from inventory and lock in a price with a minimal deposit on contract. The contract will be considered "soft", pending a 45-60 day due diligence/travel inspection period. At that point, the contract will go "hard" with remaining deposit schedule due.

How can I send payment?
You can pay with cash, credit card, wire transfer (with specific instructions provided by BELLA COLLINA), or utilize the escrow services of Stewart or Chicago Title. However, checks slow the payment process.

CONTRACTS

When can I expect to have an exact idea of the offerings (Condominiums, Townhomes, Villas, and Homesites) and pricing in Phase I?
You can do so now by contacting one of our sales representatives. Phase I is currently in the contract stage.

When can I anticipate going to contract?
We are in contract stage for Phase 1.

FINANCING

What type of financing is available in Costa Rica?
BELLA COLLINA has an exclusive relationship with several banking institutions in Costa Rica, which is offering our residents up to 80 percent financing for up to 30 years for their real estate purchase. The terms and interest rates are very similar to that of financing in the United States. The pre-approved financial institutions are Banex, HSBC, Scotia Bank, and Banco Improssa.

COSTA RICA

How do I buy and hold land? Can foreigners own property in Costa Rica?
There is no restriction to property ownership by foreigners. Properties are transferred by executing a transfer or conveyance deed (escritura de traspaso) through a notary public. In Costa Rica, all notaries must be attorneys and they are responsible for preparing, supervising the execution and recording of all public registered documents. Property cannot be transferred if the land does not have a registered survey, which must be referenced in the deed of transfer. The national registry reviews the deed and then registers the property in the name of the new owner. The registry will not record a transfer deed without the full payment of the transfer taxes, documentary stamps, notary fees, and property taxes. Transfer taxes and document stamps are approximately 2.5 percent of the registered purchase price and law sets notary fees at 1.25 percent of the registered purchase price. Many investors elect to have a Costa Rican corporation hold title to their property in the form of a "Sociedad Anonima." Holding title in the name of a registered corporation provides greater flexibility in estate and tax planning, liability, and overall management. We recommend putting your land in a corporation because it allows for much easier transference of the property in case of future sale. An attorney is recommended to form the "Sociedad Anonima". We can put you in contact with an attorney with land transfer experience to assist in the creation of the corporation, or you are free to select your own.

Is title insurance available? What is the form of the title that I will receive?
Title insurance is available. There are several companies that offer the same type of title insurance that is offered in the United States. Many United States title insurance companies, like Stewart Title, back these companies. The cost is about one percent of the purchase price. We can order title insurance for you at the time of signing an agreement to purchase a lot. The property is titled the same way you would find in the United States. All titled public property can be found on the computerized Costa Rican national public registry. The only way a third party can claim rights to a titled property is if they have a registered lien or encumbrance on that property. All properties are being conveyed free and clear of all liens or encumbrances.

Are other insurances, like general liability and property insurance, available?
All other forms of insurances are available. In Costa Rica, insurance is handled by a government agency called INS. You can purchase insurance for your home, car, business, life insurance, and most other insurable items through INS. Home insurance is actually less expensive than comparable insurance in the United States. We can direct you to appropriate contacts to acquire any requested insurance.

Does Costa Rica have property taxes?
Yes. Costa Rica has yearly property taxes based on the value of the property but they are usually very low—typically 0.25 percent of the property value.

Are there zoning laws and building codes in Costa Rica?
Costa Rica has zoning laws. But typically, San Jose is the only area that has different zones. Most other property is zoned for almost any type of construction. Costa Rica does have fairly stringent building codes, but in some rural areas, these codes are not strictly enforced. There is still a permitting process that is required in Costa Rica. Our recommended builders are familiar with the building codes and will construct your house to your exact specifications and in strict accordance with the building codes.

How do I maintain my house, especially when I am not in Costa Rica?
You can use the Bella Collina concierge service, which can assist you with all of the arrangements while you are away and then again upon your return. One can typically hire a full-time maid that does all of the cooking, cleaning, laundry, and childcare for between $350 per month. You can also hire a groundskeeper that will maintain your property, gardens, and watch your property in your absence for about the same amount of money.

I don't speak Spanish. Can I get around Costa Rica?
There are over 100,000 North American residents in Costa Rica. Many Costa Ricans speak English since the number one industry in Costa Rica is tourism. Throughout the coastal areas, the majority of the people who live there are English speakers. There are very good Spanish schools in Costa Rica that can quickly improve your proficiency in Spanish.

How is the health care system in Costa Rica?
Costa Rica has an excellent medical system. Most people have access to universal healthcare, which means that people do not hesitate to visit the doctor when needed. The system covers everything from dentistry, to maternity care, to open-heart surgery. As a result, Costa Rica's population is very healthy and enjoys a life expectancy comparable to that of North Americans.

Where can I find general facts and statistics about Costa Rica?
Costa Rica has seven provinces: San Jose, Guanacaste, Alajuela, Heredia, Limon, Puntarenas, and Cartago. Maps of Costa Rica and general information about Costa Rica can be viewed online at many Internet sites. (Reference: http://www.cia.gov/cia/publications/factbook/geos/cs.html, http://maptak.com/cr/pn/pn.html)

The weather in Costa Rica depends on the location. San Jose, the Capital of Costa Rica, offers a constant year-round temperature of about 80 degrees. The beaches are warmer with high temperatures in the 90s. The mountain areas can reach freezing temperatures. There are two distinct seasons in Costa Rica: a dry season and a wet season. The dry season is usually November through April, and the wet season is May through October. There is very little rainfall during the dry season, and it tends to be hotter and windier. During the wet season, there is usually an afternoon shower, which tends to create cooler temperatures.