Las Terrenas

I'm purchasing a pre-construction in Las Terrenas right now. www.realestateinlasterrenas.com.
Kash the agent I'm working with has many projects with pre- construction and he can give you all the information you are seeking. I'm purchasing in Coralstone 3 to be delivered in July 2023. great prices right now.

Please read all the posts across this forum about buying real estate before you commit! I believe everyone here will advise that you should never buy anything sight unseen! Do not trust pictures, videos, or a realtor who is looking for a commission.

Unless you have money to throw away, you really need to visit the area, view the development, inspect the construction, understand the area immediately surrounding the development (noise, traffic, crime, amenities, etc.) and speak with others who have been through the process with the same developer. There are a TON of unfinished projects here because the permits couldn't be obtained, the money ran out, or the developer absconded with the deposits from all the owners! And always, always, always have your own attorney involved before making a purchase.

I'm not trying to scare you away from making a purchase - we've purchased three properties here. The first was an apartment in a nice gated residence on Playa Bonita. Pre-COVID, we never made the kind of revenue we had been told to expect. We actually had our best rental history from September 2020 (when we put it back on the rental market after the ban on short-term rentals) through July 2021, when we sold it. But it was a major pain in the a$$ to deal with, even with an onsite property manager handling all the day-to-day stuff.

We also bought two land lots in the Coson Lomas to build on. The first was sold last year at a small loss because once it was cleared, we realized it didn't have the views the realtor promised. To be fair to him, we should have insisted on it being cleared well enough to walk the property and see the views before buying it. The property we bought two years ago is the one we are building our home on. We did not finalize our architectural plans, sign a contract with a builder or break ground until after we had our residencia and knew we would be staying. We are in constant contact with our builders and visit the site at least once a week to make sure things are progressing as promised. Even with all these precautions, there are things we've caught that had to be addressed and corrected.

If you think this condo is something you'd be interested in buying, I highly recommend coming for a visit first! While I love LT, it is a small town and isn't for everyone!

Denise

@bkoepsell

How is your project coming along?

@bkoepsell Hi, KASH is the Builder? Can you work directly with the builder and not the realtor? Thanks

@ddmcghee Thank you for your detailed account. It seems as there are two routes, a realtor or a builder. Is there any difference with/without a realtor?

What is the commission rate in DR?

@rcadet1 We've only purchased properties with a realtor, but we sold two (an apartment and a land lot) without a realtor. The commission varies but I think most are 6-8%.

We didn't work with a builder until after we had purchased our land. We first hired an architect to design the house, then once we knew what we were planning to build, we started interviewing builders and getting estimates.