No Title - purchase question

jrf · #1 04-28-2007, 03:45 PM

Learned members/Guzman & Assoc.

There is a building that is for sale in Los Charimicos.

The original owners have had the building for over 30 years, have the paperwork, but no title.
Seems that, if I have my information correct, that the govt. at the time had 'gifted' the building to be used as a church but no title was given.

They are selling the building which we know we are paying for the lot being the building needs a lot of work.

With the govt plans of moving people out of the area and wanting to expand the area for tourism - do you think that a title application would be a waste of time?
Is the general opinion that one would not be granted?

Any advice would be great.

Ken · #2 04-28-2007, 04:20 PM

jrf, don't be surprised if Fabio tells you this is beyond the scope of the questions that he answers here. This sounds like something that your attorney would have to research before giving you an answer.

jrf · #3 04-28-2007, 05:45 PM

Thanks for the reply Ken.

We are working on somewhat of a budget and don't want to waste a lawyers time or our funds with something that just may be frivolous.

If anyone has an idea it may allow us to move onward to search again for a different building.

amparocorp · #4 04-28-2007, 05:57 PM

i would assist the current owner, may take money, in acquiring title. once they have title, they sell to you..................if they are sincere they will go along with this........if not, i would take my business elsewhere. they could however raise the price once they have title. you have to be your own shrewd businessman on this. who are these people,? how long have you known them? have they sold this 30 times to other suckers? what's the hurry?

jrf · #5 04-28-2007, 07:28 PM

Not a bad idea - of having them provide the title.

They are known in the area, having lived there most of their lives I imagine, and my contact there knows them as well.

The price is already negotiated so if they would do the title first at the same price - we would like the price a bit lower.

Any know what is happening with titles/purchases in the Los Charimicos area?

Ken · #6 04-29-2007, 11:23 AM

A foreigner would be foolish to buy property without a title. Dominicans do it, but foreigners are more at risk because we are "rich", and because we are not Dominicans. The fact the government may be involved, makes this even riskier. You may find yourself paying the seller for the property, then paying the government to be able to keep it.

You say you are on a budget, and your posts indicate that you do not have unlimited funds. You need competent legal advice before you spend another dollar. Either walk away from the property or get a lawyer to assist you. If you can't afford the help of a lawyer, you don't have the money to lose on an ill advised purchase.

johne · #7 04-29-2007, 01:06 PM

Tie-up the property for a period of no less than 90 days. Give the sellers no money down. Contractly agree that due diligence is needed to clear the title and the costs of such is to be borne by the seller.

No title-nothing lost.
Title-you get clear title and a reduced price since most of the legal work is the title search

If seller will not agree it would be to me an indication that perhaps seller has tried in the past to get the title and could not. (as you would not) . Hence take a walk around the block, have a cold one and thank me for saving you some money.
JOHN

jruane44 · #8 04-29-2007, 01:55 PM

Quote:

Originally Posted by johne

Tie-up the property for a period of no less than 90 days. Give the sellers no money down. Contractly agree that due diligence is needed to clear the title and the costs of such is to be borne by the seller.

No title-nothing lost.
Title-you get clear title and a reduced price since most of the legal work is the title search

If seller will not agree it would be to me an indication that perhaps seller has tried in the past to get the title and could not. (as you would not) . Hence take a walk around the block, have a cold one and thank me for saving you some money.
JOHN

Thats two good sermons today.

jrf · #9 04-29-2007, 02:06 PM

Good advice. We do have funds for the lawyer - that part is not the issue.

We are going to a lawyer now to look into if a title is available.

The building is being bought by two Canadian couples that want to donate the building for our project that we have in Los Charimicos - the church and the school which we now have 45 children attending.

Hence-since this is an enormous gift for us we want all to go well.

Thanks for the responses.