FACTS on Buying, Selling, Owning Property in The DR

[KaliEyes]

I'm starting this thread for mainly FACTUAL information.

I want to start a handy reference point for anyone looking to buy, sell and own property in the DR.

I am very inexperienced with real estate in my own country, let alone any other. However, there is much I would like to understand.

There are plenty of laws and clauses, tax & government information...many things to learn about.

Without starting a huge thread consisting of coversations, please state ANY and ALL facts that you are aware of.

Tax rates
Demographic differences
Rules for both Canadians and Americans (including the rules in those countries) when purchasing property in the DR.

I have seen some REALLY good deals on villas and other types of houseing in Punta Cana...but i find it hard to believe that a deal this good could be true. There are also some really expensive places that make me question the cheaper ones.

Hypothetically speaking, if I were to have $200,000 US in the bank, found a property for $150,000 the DR, what would I need to do from there. -get a lawyer is the obvious part! But what other things would I need to know and do, other costs I would incur...how my government would get me...etc.etc.etc.!

I know, I know...I know nothing...but hopefully with all the experts and their experience around here, I will learn something throughout this thread.

FACTS PLEASE

[Lambada]

1) Read this

Overview of Dominican Real Estate Law

2) Use search facility to cover the topics you want facts on.

3) Canadians & Americans are not regarded as different animals from anyone else. A purchaser is a purchaser.

4) The legal expert on this forum Dr. Guzman would probably not claim expertise in Canadian & American 'rules' whatever those might be - tax rules?

5) Demographic differences between what & what?

6) As well as 'fact' you might want to consider interpretation of same. Particularly in the DR.