La Meridiana is offering its units at pre-construction prices on a first-come, first-served basis. We estimate a price increase of approximately 15% once construction has begun.
If you are interested in acquiring a unit, you will need to sign a Purchase Option ("Opcion de Compra" in Spanish). This agreement is legally binding and guarantees reservation of the specific unit you have chosen. You may also hold a unit for a period of up to 72 hours without signature or payment. All payments will be secured by escrow.
Note: Though the option agreement is legally binding, you may sell your unit at any time. However, it is your sole responsibility to do so and you remain liable for all payments until such responsibility has been legally transferred to the new owner.
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TIMELINE OF PAYMENTS
1.
At time of signature
A payment in the amount of 10% of the purchase price is required (or within 72 hours thereafter).
2. When construction begins (estimated to be March 15, 2007)
You will be required to make an additional payment in the amount of 10%.
3. When roofs are laid (estimated to be October 1, 2007)
A payment of 30% of the original purchase price is required.
4. At closing (when construction is completed, estimated to be May 1, 2008)
The final payment in the amount of 50% of the original purchase price is due. At this time, up to 70% of the value of your condominium can be financed through mortage. |
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