trying to buy property for a church

[gioele13]

I am trying to facilitate the purchase of property in order to build a church in the Alacarrizos community northwest of San Domingo. The missionaries, whom my church in the US happens to sponsor, would like us to purchase 3 200m2 lots in that neighborhood for 650,000 pesos ($17k) a piece. The missionaries know the men who are selling the property and believe it to be a reasonable price, and they are willing to negotiate it downward. However, I want to purchase the property by placing a deposit, have a lawyer do a title search or create a title, and the sellers - whom I do believe to be reliable businessmen who are not trying to scam anybody per se - say that they can do this, but the property will then cost us 1,100,000 pesos a piece and they'll need at least a 25% deposit... really? They're like, "buy it at this price and then you can create a title. We'll take you to the government office where we purchased this and do everything there. The "document of sale" will be sufficient." So, how important is this? As an American I can say that this does not work and is extremely risky, but my missionaries are not worried and have advised me that my requests are "difficult." We've had a working relationship with these missionaries for 20 years and would entrust them with my own children, but I am worried that even they are not aware of all of the problems that could arise. So, questions...

1) Is this price reasonable... $17k a piece for a 2100 sf lot? If so, how do I value property?
2) Should I push these guys to create a title before we transfer the property after I give them a deposit? If so, how much as a % of value?
3) Should they be content if I offer a small deposit while we do a title search and make sure everything is clear of liens? And then, after I buy the property, create the title?
4) Also what is the verbiage in Spanish for these documents? I know I can google-translate this stuff, but I want to make sure que no estoy mescolando mis manzanas y mis naranjas...

It sure is hard to grow a church in the DR when our buildings are maxing out at an occupancy of 50.

[frank recktenwald]

That's what they need in the DR more churches

[bob saunders]

property values vary on location. In most cities in the DR $650,000 Pesos for 200 m2 would not be out of line.

[belmont]

You had better get yourself to a Dominican lawyer who is experienced in real estate. I think what you are saying is the seller is willing to convey the properties at a discounted price with only a bill of sale and "and then you can create a title. We'll take you to the government office where we purchased this and do everything there." Buy offering at an greatly inflated price they say they will covey the property with full title work completed. Current Dominican law requires all property transfers to have a deslinde (survey and court hearing if any objections) before title can be conveyed. Be very careful if they are trying to circumvent this process.

[Criss Colon]

Contact "Guzman Ariza" in the legal forum.
You WILL,be glad you did!
Cris Colon

[Sunnydays2012]

We'll take you to the government office where we purchased this and do everything there." Buy offering at an greatly inflated price they say they will covey the property with full title work completed.