HOW FINANCING WORKS

(SELLER)

FINANCING

(BUYER)

1. ESCROW FORMATION

3. TITLE CONTRACT

8. DISSOLVEMENT

2. DOWN PAYMENT

4. DISBURSEMENT

5. POSSESSION

6. MONTHLY PAYMENTS

7. END OF TERM

1. ESCROW FORMATION

The formation of the Escrow account is initiated by the landowner or developer. From here on forward, the landowner, developer will be known as the 'Seller'. The client purchasing the property will be know as the 'Buyer'.

The Seller is responsible for the formation of the Escrow account. The Buyer is responsible for all formation fees and all Escrow transfer fees.

Property Direct CR works exclusively with Secure Title Latin America (STLA).

STLA is Latin America's safest and most popular Escrow and Trust service.

2. DOWN PAYMENT

The Buyer makes the down payment as specified on the listing into the Escrow account. STLA will request the Buyer to demonstrate that all funds being transferred are coming from a legit and legal source, as per Costa Rican law. Bank statements are often enough to satisfy this process. The completion of this step automatically triggers Step 3.

3. TITLE CONTRACT

A Title Contract is formed that states the Title will be transferred into the Buyers name or corporation once the Terms of Financing have been fulfilled. The completion of this step automatically triggers Step 4.

4. DISBURSEMENT

The Buyer approves the disbursement of the down payment funds being held in the Escrow account to the Seller. The completion of this step automatically triggers Step 5.

5. POSSESSION

The Buyer takes immediate possession of the property. Build your dream home, invest in an income property or move in and start living your best life in Costa Rica.

6. MONTHLY PAYMENTS

The Buyer is responsible for the minimum monthly interest payments as defined by the Terms of Financing. All monthly interest payments are made to the Seller. Any additional or lump sum payments against the remaining principal amount will be sent into the Escrow account and held until the end of each fiscal year upon which the fund will be disbursed to the Seller.

7. END OF TERM

The Buyer is responsible to make the remaining balance payment at the end of term as defined in the Terms of Financing. This payment is made into the Escrow account. The completion of this step automatically triggers Step 8.

8. DISSOLVEMENT

Once the Terms of Financing have been fulfilled, the Title is transferred to the Buyers name or corporation, upon which the Buyer approves the disbursement of the funds being held in Escrow to the Seller.

All contractual agreements are dissolved and both parties go their separate ways as all legal obligations have been met.