Financing a New Apartment

[Yachtmaster]

A few months back, I was looking over some listings for apartments in Santo Domingo with a real estate agent. One listing was for an apartment in a new six-story complex that was being built in the Zona Oriental area. It had an interesting payment plan. Basically, you would pay half the cost of the unit upfront and then make monthly interest free payments to the developer while the complex was under construction with final payment due before moving in.

Sounds interesting but maybe a little risky? If all the paperwork was in order, why would this not work?

I have rented in SD before and religiously read the posts on DR1 about renting vrs buying, and living in the DR, so no need to rehash that here.

[ffritz]

I don't know what it's like in SD but there are an awful lot of unfinished construction projects on the north coast ....

[SKY]

Do not pay for anything here before it is complete. Also, if they do not give you the title at closing and tell you it will be a few months, tell them your payment will also be a few months off.

Look around in SD at all the apt. complexes half completed. Do you want to own one?