Dear Homeowner and Resident,
One of the most important Holiday Seasons in México is just around the corner, and weather is feeling like an endless summer season by turning the Caribbean waters into the well-known bright blue colored ocean.
That being said, TAO Group (CONDO HOTEL GBP, S.A de C.V.) is very pleased to inform you that the last Condominium Regime Deeds were signed recently, meaning that all TAO clients (CASH and Financed ones) belonging to townhomes (TH-D), Cenote Residences and buildings (KIN, CHI, HIRA, MEI, LAO, TSE, HAI, RAM and SIU), will be soon ready to move forward with all closing procedures, and securing title of your Units into a Real Estate Bank Trust (May – June 2017). It is for this reason, we would like to take this opportunity to review part of the crucial items and requirements to ensure that you experience a successful closing process.
STARTING THE PROCESS
· One month prior to starting your closing procedures (May – June 2017) we suggest you that you touch base with your closing attorney to start learning, and getting informed about the documentation that will form part of this process.
PAYMENTS AND OBLIGATIONS
· Please make sure no outstanding balances are pending with TAO & Home Owners Association. This also applies to those cases if an outstanding balance is conditioned to the title.
· If you have a financing plan with TAO, please be sure your monthly payments are paid and up to date
· If you have taken possession previous to this date, you need to be paid up to date on property taxes and utilities. Please take into account that, a current property tax payment receipt dated 2017 (predial 2017) and a copy of the last water bill that was paid, will be crucial to integrate your closing. This also applies to those cases that an outstanding balance is conditioned to the title.
· If you have not taken possession of your Unit, and belong to TAO Phase I or II (Residences Lake, TH-A-B, QI, ZEN, XIAO, KUN and TH-E) and are narrowing down a delivery date, please be advised that you need to complete the closing process before such time; all walkthroughs are permitted for you to inspect the property at any point after the unit is fully finished.
· Finally, if you belong to TAO Phase III, buildings (TH-D, KIN, CHI, CENOTE RD, HIRA, MEI, LAO, TSE, HAI, RAM and SIU) but just if your delivery date is imminent ( May - August 2017) you will be very welcome to take possession of it but upon completing and executing the Power of Attorney templates that will be requited to formalize your financing loan option as well as for your closing attorney to represent you at a further stage and when the legal paperwork (Condominium Regime Deed) of this last phase, is ready. In all cases, we are expecting to have that said Condo Regime in july 2017, meaning that you will be collecting your title from your closing attorney, a couple of months after taking possession of your Unit.
We would like to thank all of you for the trust and patience you have shown our group from the beginning of your purchase to the present date. We are about to start with one of the most important stages to this development consisting on delivering titles and creating one of the most relevant HOA- gated communities all over the Mayan Riviera.