Buying property in Dominican Republic

Bob K VIP Member

7675POSTS

11 years ago

All areas have real estate for sale at all prices. It just depends on what you want, amenities, location and such,

As a side note to the Dslinde process. If a property is held in a corporation then it can be sold once with out the Deslinde being done. However if you were to purchase this type of property you will need to get it Deslinded so I would hold some money out in escrow to get this accomplished.

Bob K

planner Dominican Republic Expert

17773POSTS

11 years ago

#42

Yes and note the process can take 2 years!!!! It depends where you are and who you know.

institutelouisville Contributor

150POSTS

11 years ago

#43

Thank you so much Bob for your answer. Searching the net for condos all over DR, I found the north side a bit cheaper , not as touristic and lots of expats to befriend.

institutelouisville Contributor

150POSTS

11 years ago

#44

wow, 2 years? I am used to the slow French administration workers whose motto is " take it easy in the morning and not too fast in the afternoon " but DR seems to be beating France on that one ! LOL

Bob K VIP Member

7675POSTS

11 years ago

#45

Remember here manana does not mean tomorrow it just means not today. So if someone says "I will do it manana" they really mean "I am not going to do it today...when?????

Bob K

institutelouisville Contributor

150POSTS

11 years ago

#46

LOL ! good to know Bob !

planner Dominican Republic Expert

17773POSTS

11 years ago

#47

So true. Our land titles division is a mess. So it will take time to process any deslinde..

Bob K VIP Member

7675POSTS

11 years ago

#48

It took us 3 years after purchasing our condo in Cabarete to get the title.

Bob K

ohmmmm Member

12POSTS

11 years ago

#49

A few years ago there was a huge backlog of properties that needed a dislinde and it was taking three years to do. I believe its now down to two years or less and the price of a dislinde has declined as well. I would not buy a property without one.

planner Dominican Republic Expert

17773POSTS

11 years ago

#50

I've heard similar timing. No deslinde, no title, no purchase!!!!

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Bob K VIP Member

7675POSTS

11 years ago

#51

Well actually the time is now 18 months or so. The costs between $2500 and $4000 depending on who you use. We just started the process and our cost was $3000.
You can sell/purchase a property and actually a deslinda is NOT needed if purchased from and as a corporation as many properties here are held by corporations (set up by the owners with them being the corp members) as this used to have some major pluses to so when buying. However this can only happen once. So if you buy a property from a corp you must get the deslinde before you can sell it again.

Many folks will buy a property with the deslinda "in process" but hold out a fair chunk of change in escrow till the new tittle is delivered.

Bob K

planner Dominican Republic Expert

17773POSTS

11 years ago

#52

Good info from our resident real estate expert. And really good point, its a bit different when you purchase propery held by a corporation.

Always always use a GOOD lawyer. And finding a good one takes work, referral, recommendations and double checking!!!!

Bob K VIP Member

7675POSTS

11 years ago

#53

So right on the lawyer. I know folks who are still waiting 5 years for their original title (not even the deslinda) and 4 years for residency. Such a shame people don't investigate first

Bob K

planner Dominican Republic Expert

17773POSTS

11 years ago

#54

You absolutely must. Little info on lawyers: There are lawyers and their are lawyers.

So did you know that with a high school "diploma" you can go to school 1 day a week at the university here in SD or in Santiago, for 3 years - yes 1 day a week for 3 years and then get a LAW DEGREE!!!!!

OR you can go to a University for years, full time and get a LAW DEGREE!!!!

IF it were me, I would certainly want to know which DEGREE I was working with! Just an FYI.

Look for recommendations for lawyers, real good more efficient lawyers. Sometimes they cost more, sometimes they do not. NEVER EVER pay all $$$ UP FRONT. Ever, did I say that enough EVER!!!!

You need to stay on them. You need to follow up. Do not ever assume they are on your case. Remind them, call them, text them. The squeaky wheel and all that...........

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ohmmmm Member

12POSTS

11 years ago

#55

I think the dislinde is necessary no matter the ownership structure, but what is most important is a good lawyer. When working with lawyers and anyone here, there is a fine line between pushing them or reminding them and also respecting them. In the Dominican Republic, respect is the most important thing to most people. So a gentle poke with a bit of humor and respect is very much appreciated by everyone and will get you further than you could ever imagine. Oppositely, yelling or getting upset will backfire big time. I have tried all different ways but good ole' respect but verify is the way to go in most cases, even when problems and mistakes are made.

planner Dominican Republic Expert

17773POSTS

11 years ago

#56

Agreed, there is a science to this. I use the short skirt high heels option first, humor, being nice etc. I escalate as needed until things get done.

And yes following up nicely is ALWAYS the first option, just regular contact, keeping them on track etc.... and reminding them what needs to get done........

institutelouisville Contributor

150POSTS

11 years ago

#57

great info as usual ! ok.. I am definitively not a pro in estate regulations so I have a question.. what is the difference between a title and a deslinda ?

Bob K VIP Member

7675POSTS

11 years ago

#58

Deslinda is the new titles based on GPS points and actual ownership. You would be amazed on how many people can hold title to a particular property.

This new and "improved" system is to alleviate that problem an make all titles uniform and correct. ALL property in the DR will eventually have to have this done. It is a complete restructure of the land court.

Bob K

planner Dominican Republic Expert

17773POSTS

11 years ago

#59

At one point it was reported that based on the 100% of land available their was ownership of 140% on the "books" .

Thus they created the new process.

Bob K VIP Member

7675POSTS

11 years ago

#60

We had one property that we were interested in that when it came down to the title there were only 6 families claiming to have (and 4 did) titles to the property. Needless to say we walked no we ran away from this property.

Bob K

planner Dominican Republic Expert

17773POSTS

11 years ago

#61

No kidding.... I can imagine. I know of at least 10 long term fights over property going on right now. It is better to be very safe when it comes to property purchases.

ohmmmm Member

12POSTS

11 years ago

#62

Don't be too scared about the above advice its just meant to let you know that its important to have a good attorney involved. Also, if the attorney gives you any indication that there is a dispute about the title or a Dominican family with lots of relatives have to sign off on the sale it would be a good idea to look at other properties. We are here for a better life and that is to keep our life relatively simple so we can enjoy the good weather and what we came down here for.

planner Dominican Republic Expert

17773POSTS

11 years ago

#63

So true, we all want simpler....

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Bob K VIP Member

7675POSTS

11 years ago

#64

Sometimes too simple is too good to be true!

Bob K

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planner Dominican Republic Expert

17773POSTS

11 years ago

#65

But we can hope....

institutelouisville Contributor

150POSTS

11 years ago

#66

sorry about the delayed response Bob ..
Thank you very much for your answer.. All this is overwhelming me sometimes ! :)so much to learn !

institutelouisville Contributor

150POSTS

11 years ago

#67

I 'll try to take your advice .. As I was telling Bob.. sometimes, the Dominican administration overwhelms me !

institutelouisville Contributor

150POSTS

11 years ago

#68

OMG .. that is so scary.. I am so glad we are doing our homework so seriously. And thank you all for your help !

Bob K VIP Member

7675POSTS

11 years ago

#69

Do your homework, take it slow, investigate, ask questions and you will be fine.

Bob K

institutelouisville Contributor

150POSTS

11 years ago

#70

yep ! that's what we are doing !

FlorinM Member

12POSTS

11 years ago

#71

Hello Bob,
Few days ago I recall reading that the new Certificado de titulo must have GPS coordinates?
Is this correct, please advise whenever you can,sorry it is late now.
Thanks , Florin

Bob K VIP Member

7675POSTS

11 years ago

#72

Yes all property must now have a Dislinda (GPS mapped plot) in order to sell it. So if buying make sure the property had one or one is in process. I would withhold some money in Escrow if closing and this is not completed yet. It can take up to 2 years to finish the process. It seems there is one office and one official with the "stamp" for the entire country. We started our process 4 months ago and our lawyer says with some luck we can have it done by late next year.

There is once exception to the law. If the property is held in a corporation then it can be sold ONCE with out it but then can never be sold again unless a Dislinda is obtained. I would NEVER buy a property that does not have this done.

Bob K

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isaacb20747 Active member

31POSTS

8 years ago

#73

Hello Bob K, planner and everyone else here. I am come to DR at least three times a year. I have looked at renting and buying here. I heard buying in the planning phase is better, but thanks to the post here, I need to beware. I like living in Santiago, but for business Santo Domingo is the place. I would like the best of both worlds. So far I have noted a lawyer, title, condo fees, construction company and realtor. Did I miss anything?

isaacb20747 Active member

31POSTS

8 years ago

#74

Hello Everyone. Bob K and planner, I need your feedback on the response I receive from a realtor about construction on a new apartment development. It is suppose to be completed October 2018. My question had to do with failed project, refund and title. Here is her response;

The construction has not started yet, the project will be managed by fiduciary BHD León, and as per contract once the sales has reached breakeven they will start the construction, they have already done factibility researches so they have the numbers for the project and high expectations of it, based on location and market prices.
If they cant be able to develop the project you will be fully refunded for the amount payed at the time.

Title will be ready by the end of construction and if finance here it will be delivered to the bank so they can do the transfer to your name and inscribe the mortgage and they will give it to you in around 3months.

Is this a go or no go or wait and see before I jump into the pool.

Isaac

planner Dominican Republic Expert

17773POSTS

8 years ago

#75

New construction can be particularly risky honey!!!! Much depends on the developer.

Bob K VIP Member

7675POSTS

8 years ago

#76

I would never invest in a new construction complex that has not even started. So many half started or never started projects and so many folks out of a lot of money. My advice is a NO GO

Bob K

isaacb20747 Active member

31POSTS

8 years ago

#77

Thank you Bob K and Planner for the feedback. I feel the same way, it suppose to be completed October 2018 and they have not started construction.

planner Dominican Republic Expert

17773POSTS

8 years ago

#78

Way too risky

Kat11 Serial expat

216POSTS

8 years ago

#79

In Punta Cana this is pretty common. We bought a pre-construction condo and put a deposit down in Dec 2014 and it was completed Dec 2015 and just the land was cleared when we put dep down. This same builder started another condo unit about a year later, you get some great prices with pre-construction. But you do have to trust your realtor and the lawyer involved in the project and ask to see other properties the developer has completed.
There are several developers in Punta Cana that once one project is done they start another, they do great work and you get a title when closed.
I think its great way to get in ground level and save more$$ then what the units will go up to once completed. But you have to go with your gut and trust all involved just as with anything.