Playa Tesoro turnkey solutions include townhomes and villas of several styles and sizes. The concept is triplexes, duplexes and single free standing units in 2 geographic areas of the development. The front entrance gate area is called Madera and in concept features 28 villas, a pool, a gathering center, a bar, childs play area and tennis courts. The second area, called Red Snapper, is built around a Fishing Lodge and Marina. Red Snapper features 45 villas, a pool, a Fishing Lodge, Lodge dining facilities and a Marina on the Pacific coast of Nicaragua.
At Playa Tesoro, finance solutions are available to help you purchase a property. New information about financing are presented to us on a regular basis, so for the most current financing options, send us an e-mail.
Terms & Guidelines
- Our buyer-friendly American-Style mortgage trust loan program is currently available to home-buyers at selected resorts and residential development projects in Central America, Mexico and the Caribbean
- Ideal for purchases of refinances of 2nd Homes, Vacation Homes, Condos, Commercial Buildings, Hotels, Construction Projects, etc.
- By leveraging U.S. assets, this program provides affordable permanent mortgage loans when local bank financing would otherwise be unaffordable or unavailable.
- Must be a U.S. citizen or permanent resident with U.S. assets, and net worth of at least the value of the vacation/retirement property.
- Loan amounts: $100,000 to $2,500,000 USD
- 20 to 30 year amortization
- Interest rates: 7.5% to 9.5% fixed, depending upon creditworthiness
- 80% LTV; in some cases CLTV 100% may be possible
- Full-document loans; stated income loans possible; loans are in U.S. dollars
- Total loan costs, including processing & origination is 4 points on loans over $250,000 USD. Buyer pays for title insurance, appraisal and other misc. costs
Simply follow our seven step process and you'll be on your way to owning your special piece of paradise in no time.
Choose the property that you are most interested in.
Submit a lot reservation by emailing us, or call us at 1-888-311-8555 (ext.#3).
Once your lot reservation is made, our office will prepare a standard Sales Contract and either fax or e-mail the document to your attention.
After your review and approval, the contract should be signed and returned along with a deposit of US $7,500 per lot being purchased. Closing date will be on or before 90 days from the receipt of deposit.
Upon receipt of the Sales Contract and deposit, we will begin the paperwork necessary to transfer title to you.
We will prepare the land title documents for transfer to you.
At closing, costs include 1.0% of the purchase price for municipality transfer taxes. Lawyer fees are 1.5% of purchase price, inscription fees for Spanish Deed are .05% of selling price. In addition, yearly municipal taxes are generally .80 of 1% of the market assessed price and additional charges at closing may be special power of attorney if applied and due diligence. Under the terms of the contract, the buyer assumes all responsibilities to pay these cost at closing.
Our Property Management Services
Advertising includes Internet, newspapers, networking and word of mouth. We show the property and screen potential tenants. Tenant screening is the MOST critical point in property management. We always do our best to eliminate questionable applicants. Screening includes credit and public records, previous rental history, personal references and our personal impressions of prospective tenants. Our services include:
- Entering into a lease with the tenant.
- Collection of rents from the tenant and forward proceeds to the owner.
- If needed; we send late and eviction notices. We will initiate legal action against tenants on behalf of the homeowner.
- Coordination of repairs or forward maintenance requests to the homeowner. We have a number if independent contractors who offer preferential pricing and excellent quality services to Playa Tesoro property owners.
- Provision of year-end statements to property owners for each property.