Re: Purchasing real estate in Bayahibe area

[palmas]

Need some good advice.

We are interested in purchasing some real estate ( rather it be a piece of property only or a condo/house) in the Byahibe area. The area that we are interested in is in the Viva Dominicus area. Not on the beach, as there is no available beach property, but in behind the hotels. There is a company that has a project planned for this area by the name of Dominicus Americanus c.a.. Does anyone know anything about this company or for that matter, what the real estate value is there?

They have some golf courses planned as well as villas and condos, casino, beach club, etc. There is a small public beach that will remain which is located in between Viva Dominicus Palace and the Iberostar. I have been looking for some information regarding this company so that I may research and make a decision on what to do. We are planning to go back down to the area in May to look further into all options available, but until then I would like to have enough solid information to make any future decisions less complicated.

They are offering a minimum 500 sq. m. property with minimum 100 sq.m. house , to be constructed for a total cost of $110,000.00 U.S. including notary, taxes, project fees, architect, transfer fees, etc.

Is there anything else I should know about this area and this company (how reliable are they). I have been told that we would not be paying any property taxes yearly because the "real value" of the house is less than $70,000.00 U.S.. I have read the section on Mr. Guzman's site and am aware of legal terms and some of the ramifications involved in purchasing real estate.

Also, I understand that Guzman Ariza & Asociados are opening an office in La Romana. When will they open their office?

Thank you in advance to anyone taking the time to read my thread and (hopefully) replying back.

Palmas

[Robert]

Why don't you contact Fabio directly.

Contact details are here: http://www.drlawyer.com

[Fabio J. Guzman]

Our office won't be opening until the second half of the year. However, we are willing and able to provide service in La Romana right now from our Santo Domingo office.

[Tibu]

Hello Palmas,

When we started looking for a property at the north coast we have been offered lots in different "projects". Our house has been finished four years ago, but not one of these projects has even been started to be built.

So one advice from my side: Prepare yourself for the case that the project takes much longer than expected. Little down-payment. Make a contract that has a clear time-limit and clear conditions about how you get your money back if the project is delayed.

Bye

Tibu

[chrisxy]

Dear Palmas,

2.500.000,00 Pesos for 500 sqm of land and a 100 sqm house is not that great a bargain. If you want just contact me with a pm and we can discuss other opportunities.

Have a nice day

Christian

[palmas]

Thanks!!

Thanks Tibu for giving some insight on the possibilities of this happening. We don't even really care if they are not on schedule with their project or not. As a matter of fact, the longer they take to complete, the more peaceful it will remain. We have even shown some interest in 2 of the lots that are way over on the other side of all the action.

As for their construction on the villas and homes etc., they have already begun construction. They have been prompt in faxing and emailing back to me with all my questions answered about all costs and documents in great detail. Quite honestly, I'm surprised that they are even still communicating back to me. I have been such a pest about every detail. I do not like unpleasant surprises.
I even like to know what is going on at this moment and how the area is progressing- such as- what they are building this month and what's been sold, etc.

I only wish I could find some background info on this company and how legit they are.

I will take any advice from anyone out there right about now.

Thanks again Tibu.


Palmas