Real Estate Fees

If I were to purchase a home through a Real Estate Company - Who pays the realtor fees, the seller or the buyer? I know here in the states it the seller, but I don't want to assume anything and find myself dissapponted later. Anyone who has dealt with realtors in Santo Domingo - please feel free to post your experiences. Good or Bad! Thanks!

Hello, I am a realtor on the northcoast and the vendor/seller pays the commission. To transfer the title from one individual to the next, there are transfer taxes. The buyer/purchaserpays approximately 5% of the declared value while the seller pays2%. The custom is that the lawyer for the buyer makes the contract and thus the buyer pays for that, sometimes the seller wants a lawyer to represent his interests so he will have to pay too. Hope that helps. Lynne

Don't beleive any of this 55 and 2%, They usualy try to get as much as they can and it will be in the 20%. Specialy from those self made realtors. Stay away from Rio San Juan and Cabrera local or people from abroad. There is no protection and also, lawyers are not to be trusted You will end up in a tornado of unexpected fees

Peter

Peter, You have obviously had a bad experience. No reason to blast the entire real estate and legal profession. Lynne

I agree with Lynne Peter! You must have had a bad experience! But don't knock all professionals.

For more information on buying property in the D. R. click on:

http://www3.bravenet.com/forum/fetch.php?id=2833560&userid=XC87864

Copy the address, then paste it to your browser if the hot text doesn't work . . .

. . . CES

Thanks for all the information. The real estate information all helps. I more than anyone know about realtors and the bad rap some can give the whole profession. (I'm a retired realtor) I feel that dealing in a foreign country I shouldn't assume anything. Though I agree with everyone - Buyer beware - Just like home! Thank you to CES - the information I found was great.

My message had no intention of blasting the all of the professional but rather to protect people from certain known no so honest professional by not mentioning names by directing the specific area where certain profsesionals are not to be trusted.