Frequently Asked Questions
Cortez Estates is organized as the Cortez Estates Community, guided by a registered Master Agreement of Conditions and Restrictions. Each property owner becomes part of this Community upon purchase.
Developer management (initial phase): Buena Vista S.A. manages Cortez Estates until a majority of lots are sold. During this time, the Developer ensures the upkeep of common areas, infrastructure, and community standards.
Community governance (transition phase): Once the threshold is met, responsibility transfers to the Lot Owners, represented by an elected Community Board of Directors.
Community Board responsibilities include:
Preserving community norms for quiet enjoyment and respect for nature.
Overseeing architectural guidelines to maintain quality and harmony.
Managing and funding the upkeep of shared assets, including roads, water, electrical systems, security, and boundary fencing.
This approach offers the protections of an organized framework without the bureaucracy of a traditional HOA or HPR — creating a community that grows stronger as it grows together.
When you purchase a lot at Cortez Estates, the price includes not only the lot itself but also a number of items that are often left to the buyer elsewhere in Nicaragua. This approach minimizes uncertainty and makes the process more transparent.
Included with your purchase:
A survey of your lot prepared in your name.
A cadastral certificate (certificado catastral), the official government record confirming your lot boundaries.
Preparation of the title deed (escritura pública) for review by your lawyer, helping reduce legal costs.
Water and electricity service delivered to the property line within 60 days of closing.
Water and electricity meters provided for connection when you are ready to build.
Payment of the land transfer tax — covered by the Developer as a time-limited incentive for the ***first five lots sold****
Buyer’s responsibility:
Property registration fees (approx. USD $1,000)
Independent legal counsel
Hidden costs? No. All applicable costs are identified upfront so you know exactly what is included in the lot purchase. Your lawyer will assist with a full closing statement.
Yes. Cortez Estates offers financing directly from the Developer.
Down payment: Minimum of 50% at signing.
Terms: Flexible repayment periods of 1, 2, or 3 years.
Interest: Typically between 5–8%.
Title transfer: Title of the Property is transferred once the balance is fully paid. For those wishing to begin construction earlier, arrangements such as a Promise of Sale [promesa de venta] or mortgage agreement can be made to allow building permission before final payment.
Because each buyer’s situation is unique, financing is structured on a case-by-case basis. Please contact us directly to discuss available options.
Owners at Cortez Estates are responsible for ongoing expenses related to their property and for contributing to the upkeep of the Community.
Owner responsibilities:
Property taxes – Payable annually to the local municipality (AlcaldÃa).
Utilities – Electricity and water usage, billed according to consumption.
Lot and home maintenance – Each owner is responsible for maintaining their own property and improvements in good condition.
Community contributions:
Annual Community Fee – This fee covers the upkeep of shared infrastructure and services.
Until the Community Board is established, the fee is paid to the Developer (currently set at approx. USD $1,800 per lot per year/ $150/month).
After transition, the Community Board — elected by property owners — will assess and manage the annual fee.
This structure ensures that while each owner manages their own property, shared assets such as roads, water systems, and electrical infrastructure are funded and maintained collectively.
Yes. Owners may rent their homes for both long-term and vacation stays.
Rental guidelines: The Community Board retains discretion over rental practices to ensure the quiet enjoyment of all residents. We encourage rentals of at least one week to minimize wear and tear and maintain the Community’s character.
Property management support: We can connect you with reputable local rental management firms who handle bookings, guest services, cleaning, and upkeep on your behalf.
This way, your property can generate income while remaining well cared for in your absence.