The Buying Process

Buying property in the Dominican Republic can be complicated, but working with a reliable agent and being informed ensures a smoother and more successful transaction.

The first step is to choose a property that meets your needs and budget. Once you have found a property you like, you can make an offer. If the request is accepted, you must pay a deposit to secure the property.

The next step is to sign a contract of sale, which outlines the terms and conditions of the purchase. You will need to provide the balance of funds per the payment terms agreed upon in the contract of sale. After all the payments have been made, the final step is to sign the deed of purchase, which legally transfers property ownership from the seller to the buyer.

Before signing the contract of sale, it’s essential to do your due diligence and ensure that the property meets all your requirements. This may include getting a property inspection, reviewing the property’s title, and verifying that all taxes and fees associated with the property have been paid.

 One important thing to note is that some properties in the DR may require a promise of sale, a legal contract signed in the presence of a Notary Public. This contract outlines the details of the transaction up until the point that the purchase price has been paid in full and the property is ready to be conveyed to the buyer. It should include the full names and particulars of all parties involved, the legal description of the property, the purchase price and payment terms, a default clause, the date of delivery of the property, and representations by the seller and remedies in case of misrepresentation. The promise of sale also obligates the seller to sign the deed of purchase once all the payments have been made.

By following these steps and doing your due diligence, you can successfully purchase a property in the Dominican Republic as a Canadian or American expat.

Property Ownership

In the Dominican Republic, foreigners have the same rights to own property as citizens. Property can be held through a corporation or a trust, and ownership can be transferred by signing a public deed before a notary public.

Due Diligence

It is essential to conduct due diligence before purchasing property in the Dominican Republic, including verifying the property's legal status, checking for any liens or debts, and ensuring that the seller has the legal right to sell the property.

Purchase Agreement

The buyer and seller must sign a purchase agreement before completing the sale. The agreement outlines the terms and conditions of the deal, including the purchase price, payment terms, and closing date.

Taxes & Fees

When purchasing property in the Dominican Republic, buyers must pay various taxes and fees, including transfer taxes, registration fees, and notary fees.

Property Registration

The property must be registered with the Dominican Republic's land registry. The registration process involves paying a registration fee and presenting the public deed and other required documents.

Property Titles

It is essential to ensure that the property has a clear title and is free from encumbrances. A title search can be conducted to verify the property's legal status and ownership.

Real Estate Agents

Working with a licensed real estate agent who can guide you through the buying process and help you find a property that meets your needs and budget is recommended.

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