Ownership

Once you have decided to purchase at Bella Mar, you will find that purchasing property in Nicaragua works very much like anywhere in the world. A Contract to Purchase the property of your choice will be written. A 30% of the purchase price will be required as deposit. This deposit can either be sent to Amerinic Enterprises S.A. (The Developer) via wire transfer or if you wish to use an Escrow Services, they are available through First American Title Insurance at the buyer’s expense. The Escrow fee is $550.00. For more information on escrow services you can contact tcore@firstam.com . If you decide to go through Amerinic Enterprises S.A. directly, closing takes place at our attorneys’ office where the Deed is conveyed and the final 70% of the purchase price are rendered to the seller. At this point the transaction between the buyer and the seller is complete. Once the title is in your name it must be recorded at the Public Registry of the Property of Rivas. This is a several step process including payments of transfer and property taxes. Some choose to do the title recording process themselves, but most will assign a Specific Power of Attorney to a person, or a Real Estate Broker. An attorney may also be assigned to complete the recording process on their behalf. Title recording generally takes 60 days from the conveyance of the Deed. Transactions in Nicaragua are much like elsewhere in Central America, there is often no financing involved so closings are easy.

Once you have purchased your property you will automatically become a member of the Bella Mar Homeowners Association, who are in charge of maintaining the internal roads, water system, general security, and will also appoint an Architectural Review Committee, among other functions.

At this point you are free to start your plans for your new home.