Purchasing a newly constructed condo in the dr

Do you have a lawyer handling the transaction? If not you should and if you do he/she should be able to help you with this question.

Bob K

I have purchased a few units here and I would say read purchase contract. If not agreed upon as a term of purchase, I would not pay. Once you occupy unit and consume condo fee related services you should not be liable for them. Good luck. BTW, submit for you title or "Titulo" as it is known here. purchase contract does not constitute legal ownership. Titulo is the controling document. If unit paid in full you can submit for it directly.

Sorry the transfer of tittle should be included in ANY purchase agreement and done prior to closing.

Bob K

Bob K wrote:

Sorry the transfer of tittle should be included in ANY purchase agreement and done prior to closing.

Bob K

Operative word is "should". Not all real estate purchases in DR include transfer of title. In some cases titles don't exist as such the purchaser pursues title. For condominiums title transfers are include as title do exist under the named owner, be it the builder or private owner.

Sorry, but I have been selliing real estate here for 6 years and would never, I repeat NEVER, sell a property to a client that did not have a clear title.  If someone buys property with out a clear title then they are getting what they deserve.  You cannot fix stupid.

Bob K

Bob K wrote:

Sorry, but I have been selliing real estate here for 6 years and would never, I repeat NEVER, sell a property to a client that did not have a clear title.  If someone buys property with out a clear title then they are getting what they deserve.  You cannot fix stupid.

Bob K

I understand your point Bob. I have been investing and transacting in the Dominican real estate market since 1990 to the tune of over thirty million US dollars and several hundred clients. I will reiterate. Not all legal and binding real estate transactions in the Dominican Republic include title to property. I many cases, the very first title to property can be acquired by purchaser. I am not suggesting anyone to transact in that way if not experienced. I am just stating the facts. There are millions of acres of Dominican property with legal owners and no title. These properties nevertheless can be sold, purchased and titled.