A Trust for your peace of mind

On August 2012 Viveros Resort and Club is constituting a new Trust to manage both the sale and acquisition processes for the Apartments at the Villas de la Marina.

The creation of the Trust comes as the initial phase to receive the bookings for the condos has met all the expectations of the Viveros team. "It has been a real success and it is now time to move a step further", says José Guanti, Viveros' Commercial Director. "We are preparing the purchase agreements and want to provide our clients with the best financial guarantee".

The Trust will manage the funds deposited by the Villas buyer's. It will specifically manage the monies for the construction and delivery of their property. The Trust will administer the whole process, paying the contractors directly according to the master plan and will only pay for works and services corresponding to the client's own property. "When a client deposits 100,000 US dollars on an account, the Trust will guaranty that 100% of those funds will be spent specifically in Las Villa de La Marina development", explains Maxime Navarre, Viveros Resort General Manager.

Additionally, Viveros Resort and Club have negotiated a rather favorable mortgage deal with Capital Bank, Banesco, BBVA and Scotia Bank. These banks, all of which have offices in Panama City, are offering mortgages up to 70% of the value of the properties purchased at Villas de la Marina.

On booking their Condo. Clients would be expected to deposit an initial 10% of the purchase value directly to the Trust. When the break-even point is reached and we start construction, an additional 20% will have to be deposited, for a total 30% down payment.

Trough our Property Management Program, we also offer the possibility to rent out the Villas de La Marina apartments for weekends, holidays or short breaks. This option allows clients to receive a revenue from their property, which translates into additional funding for their monthly mortgage payments.

The Condos' inauguration is scheduled for 2014, which will be a rather special year in Panama. It will mark the 100th anniversary of the opening of the Panama Canal. By then, it should also be celebrating the inauguration of the new set of Locks of the transoceanic Canal, that will allow bigger and longer vessel' to cross from the Pacific to the Atlantic and boost trade between China and all the American continent. The world's cameras will be focusing on Panama. From Viveros Island, we will be able to witness history!

For more information, please contact our staff at: +507 214 8841