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Condominium Law?


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We had thought we had studied most everything we could, but we've just returned from CR after trying to buy a condo in the beginning stages of construction. Everything looked fine till our attorney, a Tica said there was a problem. An application had not been made for "condominium law". Right now the corporations are just assigned 1/8 of the total property. she advised we do not buy under these conditions. Seller's attorney says this is done all the time and that application was being made. We were told before we flew there that they were already assigned. Now we are in limbo, hoping the seller will work with us . Has anyone else run into this problem?

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Thank you for your reply. Yes, I trust our lawyer. She could have made

much more money if the deal had gone through. As she explained to me,

they made us an offer for us to purchase a condo...but in fact they had not

submitted the proper appplication to make it condominiums. The seller keeps saying papers have been submitted, but there is NO proof of that. They should have done this at the beginnig, but apparently got in a hurry to start building. The problem being if anything should happen they don't get approval we would be hung. We were also told before we went down that all the money would be kept in escrow till the closing...then when we got there, they said "no" they wanted to get the money out in increments while they were building.

I think this business of pre-construction selling is fairly new to this area

and they are not following the laws in place.

I just want other people to beware of this kind of selling and that they had better have a good attorney. I also advise that one work with a licensed realtor in CR, I don't care what nationality they are. Then remeber, the realtor is not working for you.

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