What are the selling prices of the various homes and Timeline when cash is due:
2 bedroom detached – 289K 2 story – Casa Pedrito
3 bedroom detached – Casa Playa – SOLD OUT
ADD ACQUISITION TAX
ADD ACQUISITION TAX – 2%
$ 269,000.00 USD CLOSING PRICE $5,380.00 USD
$ 289,000.00 USD CLOSING PRICE $5,780.00 USD
30% of the purchase price upon execution of the purchase & sale agreement.
30% of the purchase price, shall be payable within 10 (ten) days of the client receiving notification that the foundation of the building has been completed as certified by the corresponding Architect or Construction Chief.
30% of the purchase, shall be payable within 10 days of the client receiving notification that the main structure, excluding the roof, of the building has been completed as certified by the Architect or Construction Chief.
10% of the purchase price upon completion of the building as certified by the Architect or Construction Chief.
Note: see Architect/builder Progress Reports – Pueblo Pescadero FB page
What does the Base building include:
- Basic construction will be concrete block and costs of all labour, construction materials, architectural supervision and construction management are included in the purchase price.
Building Systems include:
- all connections required for water, sewage and electrical services. Irrigation connection provided in close proximity.
- water storage cistern 5,000 liters
- Building standard 1-hp water pump and 40 gal pressure tank.
- ‘grid-tie’ solar system including solar panels with micro inverters. Panels to be located on rooftop. System will be connected to CFE grid.
- Propane tank (300 liters) located under stairway.
- Propane fueled, tank-type 30 gallon hot water heater
- Bronze anodized aluminum windows and sliding doors of 6mm glass with screens.
- Preparation for water filter system
- Interior walls – paint over smooth finished gypsum plaster
- Interior doors – paint over solid core wood
- Smooth finished concrete floors (pulido) throughout with integral color or choice of tile.
- Kitchen and bathroom counters of smooth finished concrete (pulido) with integral color or choice of tile.
- Kitchen and bathroom cabinets with wood doors
- Ceiling light fixtures (Tecno Lite Brand; “Nadi” Model; Ydm-1508/14W/41/B)
- Ceiling fans – one in each bedroom and in Salon
- Refrigerator, stove
- Kitchen exhaust
- Preparation for mini-split A/C units in each bedroom and living area
- All plumbing for sinks, faucets, toilets.
- Kitchen sink – stainless steel “Teka” brand or built in concrete
- Bathroom sinks, toilets – Kohler or better brand
- Exterior wall sconces – Techno Lite Brand
- Ground level patio of smooth towelled concrete (pulido) with integral color
- Media Sombra Shade Structure over Patio & Parking areas.
- Landscaping as needed with rescued native plants.
- Roof and exterior terrace with sand texture finish waterproof membrane
Outdoor bbq area package – ask for architectural sketches
Circular Staircase to Roof Top Viewing Deck (2 story homes)
Media Sombra (shade structure) – Roof Top Viewing Deck
Dishwasher – (plumbing and drainage included in base building)
Washer/dryer –(plumbing and drainage included in base building)
A/C units (plumbing and drainage included in base building):
1T unit (adequate for the bedrooms)
1.5T unit for the Salon/Kitchen areas.
Filtered Water System – TBD with sub contractor
What is a Fideicomiso – Title and Ownership
In 1973 a constitutional amendment to Mexico’s Foreign Investment Law created the opportunity for foreign individuals to hold properties located within the ‘restricted zone’ (defined as an area within 50 kilometres of any coast and 100 kilometres of any border) by way of a trust agreement entered into between the individual and a registered Mexican bank. This trust agreement, called a Fideicomiso, provides that the bank hold the title to the property but all the legal rights of ownership – e.g. the unrestricted right to use and enjoy the property including the ability to sell, rent and bequeath the fideicomiso or property to whomever they choose – rests with the individual. Fideicomisos are for a term of 50 years with an irrevocable renewal for an additional 50 year period.
The cost of a Fideicomiso is approximately $500/per year.
Property within the restricted zone can be held by a Mexican corporation which can be wholly owned by foreigners. However, the annual reporting requirements for Mexican corporations are generally more costly than a fideicomiso.
What are closing costs and what do they include:
Estimated Base Closing Costs
FOREIGN INVESTMENT REGISTRY $1,700.00 USD
BANK FEES 2 YEARS IN ADVANCE $928.00 USD
ATTORNEY FEES $999.00 USD
CERTIFICATES $33.00 USD
NOTARY FEES $2,200.00 USD
PROPERTY ASSESSMENT /APPRAISAL $333.33 USD
SUB-TOTAL: $6,093.00 USD
When will the pool be built?
We are currently assessing proposals on pool design and construction. We anticipate completion of the pool to coincide with the completion of phase 1.
Are appliances included?
Yes. Stove, fridge, kitchen exhaust and ceiling fans in the bedrooms and living/salon area are included, and wiring and plumbing will be included for possible inclusion of a dishwasher, stacked washer/dryer and A/C units.
Are there finish allowances for doors and floors and counters and windows etc? Lighting and sconces?
We have standard fixtures/lighting etc. included in the cost of the home. (eg. toilets and sinks will be Kohler or better). If purchaser wants to upgrade, we can work with them and the architect to determine an allowance as well as attempt to secure fixtures that they want. Our on-staff designer, April Tidey, is available, at additional expense, to work with purchasers with respect to furnishings, fixtures etc. http://www.apriltidey.com/
Is there a water filtration system?
There is no water filtration system included in the base building specifications. However, we are working with a local contractor who is familiar with the project and can provide the purchaser with options for in home drinking water filtration.
Is there a furnishing option.
We are not offering a furnishing ‘package’, but interior design services are available through our in-house designer April Tidey at an additional cost. April’s work is showcased in her website which can be found at http://www.apriltidey.com/
Are AC units included?
No, but plumbing and wiring will be included in the base building plans for split a/c units in each bedroom and the living area.
Is there a bodega or storage for surf boards etc
There is a bodega under the outside stairway on each unit.
Are animals allowed?
Pets will be allowed, guidelines will be included in the CC and R’s
WIFI included or available?
It is available at home owners cost. Approximate cost of $50/month for unlimited wifi with a $500 US set up fee. Recommended for rentals.
Is Home Insurance available?
Yes, home Insurance for items such as fire, theft and hurricane damage are available through local brokers. Quotes are $600 – $800 US annually depending upon casa type/size.
What is the water supply?
The developer of Pueblo Pescadero has gone to the expense of securing a concession for water rights from the Mexican national governing body of water, Conagua. This concession includes approval for the well on the Pueblo Pescadero site which is located in the north east corner of the property.
Security of the development and Casas ?
The development was purposely designed with a single point of entrance and exit. Included in our estimate of the HOA dues is a provision for a ‘receptionist’ to be located adjacent to the entrance who can provide visual inspection of people entering and exiting the project as well as provide a meet and greet service as owners or their guests arrive and a central clearing house for questions/information.
We have also retained an engineering firm and horticultural specialist to advise on robust perimeter planting of “prickly plants” in addition to a hidden fence within the planted perimeter.
What are the taxes, fees on cashing out of Mexico for a Canadian or American
Please consult with your own advisors.
What is the rental income potential for Pueblo Pescadero casa’s.
Contact Mark Catania for local historical occupancy rates and estimated rental income for each casa type.
See Gypsy Beach House Rental web site for rental costs of beach homes not waterfront but 2 – 6 rows back. www.gypsysbythesea.com
What is gross and net to owner of rental income
Our standard full service agency fee is 25% of the short term agreement.
Contact Mark Catania.
Are rentals required?
Optional. Owners are free to rent themselves, not rent at all or use our in-house service. www.gypsysbythesea.com
Is there a concierge service? How much is the service?
Included in our estimate of the HOA dues is a provision for a ‘receptionist’ to be located adjacent to the entry to the project who will provide a meet and greet service as owners or their guests arrive and a central clearing house for questions/information. We anticipate that this person would also provide concierge type services such as ‘freshening’ the home prior to arrival, stocking the refrigerator with basic provisions in advance of arrival etc. We anticipate a ‘menu’ of services will be developed with costs associated with each level of service.
Who is going to provide outdoor landscaping? And who takes care of it? – is that part of the dues?
Landscaping adjacent to the home will be done by the developer at the completion of construction. Generally speaking, the intention is to repurpose Torote trees, Cardon cacti and other native plants that were saved during land clearing and which have been relocated to a hosting area at the back of the property. The developer does intend to add a selected number of palm trees throughout the property. Maintenance of all landscaping will be done by gardener(s) employed by the HOA and hence will be included in monthly HOA fees.
How is trash or rubbish disposed of and is there a charge?
We intend to have a central location for trash drop off and will contract for regular removal from the site – cost will be included in HOA dues.
What exactly do the dues cover? is there a power of a special assessment?
Our estimate is $250/300month. They will cover the following:
– Landscaping of all common and private area grounds
– Maintenance of all common area machinery, pumps, infrastructure
– Maintenance and servicing of pool and systems related to the pool.
– Trash removal
– Road servicing
– Common area lighting and electricity
– The HOA will have the ability to impose special assessments.
Is electricity to the lot and in the ground? If so is the solar a backup system?
The electrical system is designed as a ‘hybrid’ system such that electricity generated via the solar panels during daylight hour is either used in the home or ‘sold’ to the electrical utility (CFE) through the individual meter on each home’s account. During non-daylight hours’ electricity will come from the grid. The intention is to reduce the overall amount of power taken from the grid and hence monthly costs. The electrical infrastructure for the grid connection is in place and ready to be hooked up as each home is built.
Is there a septic tank and leach field? who pays to have it pumped?
The sewage system will be centralized which captures both black and grey water from each home. Sewage will be treated onsite and the treated water will be returned to the irrigation system thereby reducing overall water consumption. Occasionally the central system will require pumping and the cost will be included in the HOA fees.
How much are the dues? Is there a cap? Who manages the reserves? How much goes to operating expenses and how much goes to reserve? Is there a power to special assess? Can we get on the board if we are owners?
Estimated 250/300mo. Cap would not be added, HOA manages reserves. It will have the power to make special assessments. Currently there is a budgeted reserve of $25.00/mo of the estimated $250 – 300/month HOA fee. The HOA will elect members to the board position and select the Administrator.
What is the water tank situation in the lot and the project?
The base building specifications for each home includes a 5,000 liter cistern underneath the driveway. These cisterns will be filled on demand through the project’s water distribution system which is directly connected to the well at the north east corner of the property. There will be a separate water meter for each home.
The project’s source of water is a private well owned by the condominium, sanctioned by the water utility, located at the south west corner of the property. The well infrastructure and the complete distribution system are currently in place.