Purchasing Land or home

deebrown1 · #1 11-24-2003, 02:13 PM

i've recently just visited the DR and am now interested in purchasing property. What would be the best suggestion, purchase by cash via a US bank, what kind of laws(if any) do they have in foreigners purchasing property in the DR. I'm looking somewhere between santo domingo and the hills north of boca chica..
any input would be great..

lhtown · #2 11-24-2003, 09:04 PM

It ain't easy if its done right. There is quite a bit in the archives about it. Choosing your method of handing over the cash is the least of your worries. I do understand that foreigners can own property. I am not sure if there are any restrictions. In any event, don't do it without an excellent lawyer.

ALGS · #3 11-25-2003, 02:52 PM

In the following address you will find a detailed guide on buying real estate in the Dominican Republic:

http://www.drlawyer.com/txt/articlesreal.html

Hope you find what you were looking for:

Algs

DCfred · #4 12-01-2003, 11:53 PM

Hi Dee--

My sister and I have a house in Boca Chica we are trying to sell. It is a Mediterranean-style house that has sat empty for many years. We do have a caretaker that oversees it, but we really want to be done with it.

Escott · #5 12-02-2003, 09:20 AM

no big deal to do buy property in the DR. I strongly suggest being represented by an attorney who gets recommended to you and tell him specifically that you want him to do due dilligence on your behalf and also use a title company to insure what you are buying (Stewart Title) so you are actually getting what you pay for.

Also forming a corp to purchase property has some tax advantages.

Kindest regards,
Scott