Real estate in Dominican Republic: all conditions for buying and selling real estate

Dominican Republic is famous for its wonderful climate and year-round warmth, excellent conditions for recreation. In addition, this tropical corner offers very convenient conditions for investment and living. The country is distinguished for the better by such features as visa-free entry, the lack of restrictions for foreign citizens in the acquisition of secondary real estate and housing "from developers", the right to stay after six months of residence.

It is here that you can get up to 10% per annum from investment (in Europe, normal income is 3-5%).

Dominican laws are clear, transparent, and buying real estate will not be difficult.

Your house by the sea, which you can use or rent, is sensible and attractive.

Registration of the purchase begins with at least 10% of funds directly at the disposal of the future owner (the minimum deposit is about $ 3,000). The remaining amount can be transferred to the account of an attorney, and the procedure of clearance is entrusted to a notary and realtor.

We also recommend you to check prices for the best Villas in Dominican Republic, as well as the cost of living.

Where to start when buying a property in the Dominican Republic/ Villas near Sosua?

Having allocated funds for air travel and a trip in the host country, you can take literally a passport and a lien.

Buying a property in the Dominican Republic begins with choosing the right object. After this, the agent prepares a written request to the seller - Offer to Buy Real Estate. As soon as the conditions are fully agreed upon, the guarantee amount is deducted to the account, which is deductible in the final settlements with the seller.

Simultaneously with the pledge, the future owner signs a sales contract - this is a preliminary document, which is certified by a notary. Then the transaction is accompanied by a lawyer. Independently, transactions are not carried out even by private sellers.

Once the notary certifies the signatures on the contract, the buyer transfers the deposit amount. And only after that for one month you need to finally pay for the property.

The lawyer will check the data in all instances and finalize the contract for the purchase and sale of real estate. He will certify the document from the notary and completely assume the design of the new title - to the current owner.

It is important to know:

When buying a house, you also buy land. In the Dominican Republic the right of ownership of the land plot belonging to the villa is provided. And during transactions with apartments, the land is a condominium - that is, the possession of all the owners of the apartments.