Quote:
Originally Posted by MarioLavega
Interested in purchasing house in good condition in LaVega with some land. Any ideas or suggestions or knowledge of available properties?
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About two months ago, I have accompanied a Dominican which is a long time resident of an over seas country, in search of a property for that person in and around La Vega.
As you may have guessed, La Vega has not been plagued by foreign "investors" like the coastal regions and thus most real estate "agents" are purely Dominican and cater mostly to Dominicans living in other countries. Dominicans in town do know who sells what by word of mouth.
As you may have found out already, many of the Dominican "agencies" however do not yet make good use, if any, of the Internet to advertise their portfolio efficiently around the globe. Hard to understand, but that's the way it is.
Some of these agencies run their own projects or are affiliated with a particular developer. Some do their own financing, for two reasons: Because Dominicans living abroad are not likely to qualify for a good local bank mortgage and many of these so called developments are actually not yet partitioned in legal individual building lots (deslinde)... so financing thru a bank is not available anyway... besides, it's good business at 20% interest.
Thus and from what I've seen there, the only way I can recommend for you to go about it, is to shop on site... properties as well as agents.
... J-D.
House with land desired in Lavega
