Buying property in PR , closing February 1 - Need advice please

Write a "Cashier’s Check" made out to the seller. It should be safe handing it to your attorney on closing day. Good luck!

Thank you! I am sorry to try to get more details:

Would a a cashiers check from my US bank made out and left  ( no name) ? to carry with me and then

Fill in on spot with lawyer when i get the deed to the house and sign all the paperwork ?

It will be a check from California will that make people nervous ?

Thanks for the response, i really appreciate!

Best.Deborah

The cashier's check needs to be made out to the payee's name (seller) with the written and numeric amount to be tendered (sale price) when you request the check from your bank. Hope this helps.

When we bought a house here, we were in the states.  On the buying trip, made a verbal offer that was accepted through the real estate broker, hired a PR real estate attorney to handle closing.  It was a little complicated in that the title had a lien on it  the as a result of an old lawsuit that had to be cleared  and then recorded in a trust.

The attorney was good, closed for us, we sent cashiers checks from our bank in CT to the appropriate  individuals through the lawyer .  He got the stamps and recorded the deed, etc.

I still use him for other legal matters, competent and doesn’t charge excessive fees.  If you want contact information pm me.

We also used a title insurance  company when purchasing the property.   😎

Thanks so much for the answer !! When you bought your house Did you have to give power of attorney, since you were not in PR ? I am going simply because we didn't want to give a lawyer we never met power of Attorney. She insisted that I had to be at the closing or let her sign for me via POA

Honestly I don’t recall. If he requested it I’m sure we would have given it to him.   

You have to be able to trust your lawyer -  or get a different one.  😎

When we have bought properties, I brought my computer and initiated a wire transfer at closing, addressed to the seller's account.  This has advantages as small changes in amounts re; fees, utilities  etc can be made at the last minute.   If you close in the morning, the funds should be confirmed by the end of the day.

I would do it only if you have sent wires from your computer before.

We assigned POT to a friend of ours in PR that we completely trust. We also have an amazing attorney - also very trustworthy. Make sure that your attorney works for you, ensuring that your interests are protected.

I totally understand. I did a wire transfer to the law firm. Yes I agree it's super scary when you don't know them!!! But I had to remind myself if it was a scam it was very elaborate to involve the real estate company, the law firm, etc. It worked out fine. If you're at this stage, you may have already done it, but I agree completely with Sitka to get title insurance. They will do a good search on the title before they will sell it to you. Good luck!

Hola, bank checks is the safest bet; but you can always go to a major bank, Banco Popular or a local Cooperativa and request that the local bank attorney act on your behave to hold the money in escrow. You will commit to opening an account at the bank of your selection. Banco Popular has a state side branch Popular Bank. Sorry just realized you may have closed by now. Good luck.

Thank you all so much for advice and help ! It all worked out beautifully and we now own 1/2 acre in Vieques

solgirl wrote:

Thank you all so much for advice and help ! It all worked out beautifully and we now own 1/2 acre in Vieques

Congratulations!!!!

Congratulations!!! Glad to hear it worked out!

@solgirl what form of payment did you end up using?

@Sitka hello would you be willing to share your PR real estate attorney contact information with me? I’m closing next month and haven’t been able to contact a PR real estate attorney.

@Sitka Hi, I am looking to buy a home in PR and need an attorney who can be trusted. Do you think you can you give me the name of your Attorneys. Thank you