| A list of frequently asked questions and answers.... Q...Where are the Bocas del Toro Islands A...The islands are in the Bocas del Toro archipelago off the coast of Panama and Costa Rica in the Caribbean sea. It is part of an archipelago starting at the Costa Rican coastline. The island of Colon - 3 miles over the water from Discovery Bay- contains the town of Bocas del Toro. Q..How big are the Community Lots? A..They vary from 12,000 square feet to 22,000 square feet - - 1/4 acre to a 1/2 an acre. Q..Where exactly on the Bocas Del Toro islands is the property situated? A..On the S W side of the island of Solarte, in a lagoon like bay with year round access.We have light winds and crystal clear waters- just 20 minutes by boat from Bocas town. Q..How do I purchase the Property? A..The land is owned by a Panamanian Corporation - you purchase a lot by buying stock in the Panamanian Corporation with you and/or your family/friends as stockholders.The 8% stock has a lot and boat slip allocated to it.Very simple transfer and all the work is done for you......Then its easy to transfer/sell if you wish in the future. Q..The communal areas - how do I own that as well? A..The walkways,paths,palapa and over 1.5 acres of communal land are owned by the same Panamanian corporation.Your shareholding in this company allowing you equal access to the communal areas.(its all done for you) Q..Is it viable to spend 6 months in Bocas - what about security? A..Yes a number of people stay in Bocas for the North American/European winter/spring months Dec- May. We have a caretaker living nearby to maintain the site and keep an eye on everything. Also many people come to live here year round. Q..If I was to buy using owner financing how does that work? A..It is based on a Lease to Purchase agreement example..$49,000 Lot........$25,000 deposit with 120 payments of $284.90 - That's equivalent to $24,000 at 7.5% interest/principal payments over 120 months. The Lease/purchase agreement changes to a purchase contract on the last payment - not too different to the way you might buy an automobile. - - more details click on Lot Map & Prices Q..How do I get To Bocas del Toro and do you know any good hotels? A...4 airlines fly from to Panama City - American,Continental,Delta and Copa.You cannot connect on the way in....so have to overnight in Panama City.Let me know when you are likely to visit and I will send you more information by email (transfer,hotel etc)There are 2 airlines with daily 50 minute flights from Panama City to Bocas del Toro. You can connect to the USA on American and Copa on the way back. Q..What if we want to buy now and build later when we retire? A..Good idea - Property prices are still a bargain here and yet are 25% more than they were a year ago. Q..What about the cost of building a house, Q...Are there any good tradesmen around?, Q...How do I get planning permission to build my house. Q.What about building to rent out A..We have an exclusive arrangement for House building at US$39,500 - click here- www.bocasislands.com/pages/3/index.htm A.If you built now and wanted to rent during your absence,then our Management office can handle rentals for you. OR Back to top of page click - www.bocasislands.com/pages/2/index.htm Any other Questions that you may have don't hesitate to email ............Ron Mooney RonM@BocasIslands.com right now. |
