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Thread: Im thinking of buying a condo. Help!

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    Default Im thinking of buying a condo. Help!

    Quick story. Ive currently been in Santo Domingo since July. I am renting an apartment near the Malecon for about $1200 a month. When I paid the owner last week he said, "Alex why dont you just buy it from me?"

    Now i'm strongly considering buying the place but everything Ive read on DR1 says dont do it. Unlike others, I simply want to live in the place. In the foreseeable future I have no plans on selling. I kind of enjoy the bachelor life here.

    Is there any advice you can give me? Do you pay property taxes on the condos here? Anything you can offer would be of great value.

    Btw I'm staying in Torre Lotus. The apartment is absolutely gorgeous!

    Alex

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    Is there any advice you can give me? Do you pay property taxes on the condos
    You would pay IPI taxes only if the property is valued at or above 6.85M DOM Pesos. The taxes are 1% of the value over the amount noted.


    If you are planning to stay for long/ever, just buy it.

    Now i'm strongly considering buying the place but everything Ive read on DR1 says dont do it
    Most of the ones with these feelings can't afford a condo anyways, disregard them.

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    Quote Originally Posted by Wishing you well View Post
    You would pay IPI taxes only if the property is valued at or above 6.85M DOM Pesos. The taxes are 1% of the value over the amount noted.


    If you are planning to stay for long/ever, just buy it.

    Most of the ones with these feelings can't afford a condo anyways, disregard them.

    LOL and thank you. He wants 100k for it so I guess that would mean no taxes. Awesome sauce!

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    $1200/mo??
    Does it come with a housekeeper/happy ending/breakfast in bed every morning?
    Rent, rent, rent. You can walk away if the need arises.
    I can to a 2b/r condo in bavaro for about $700/mo and not have to worry about anything.Traffico included

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    Quote Originally Posted by ROLLOUT View Post
    $1200/mo??
    Does it come with a housekeeper/happy ending/breakfast in bed every morning?
    Rent, rent, rent. You can walk away if the need arises.
    I can to a 2b/r condo in bavaro for about $700/mo and not have to worry about anything.Traffico included

    I have an ocean view, its huge, modern appliances, leather furniture, a california king. its gorgeous. I paid twice as much for a place that isnt as nice back in NY.

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    Quote Originally Posted by ricky11 View Post
    make sure he has a legal title.
    a lot of funny business goes on here like people selling something they do not own.
    thank you

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    Dude, this ain't new york rememba?

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    Quote Originally Posted by alexw View Post
    LOL and thank you. He wants 100k for it so I guess that would mean no taxes. Awesome sauce!
    You are certainly at an excellent and one of the best locations in SD, a block from the best spot on the Malecon and right dead center of "ciudad universitaria" if you know what I mean - I've seen the Bldg and for the price, very tempting.

    Get an attorney to ensure everything is in order and clean. You have everything on that location, from supermarkets to art and walking distance to Maximo Gomez, hell, you could literally just walk to the old embassy.

    ps: How would you pay for it? This is the step of where most expats get stuck at due to the finances involved.
    Last edited by Wishing you well; 11-28-2016 at 11:13 PM.

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    Hello alexw. I sent you a pm.

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    Quote Originally Posted by Wishing you well View Post
    You are certainly at an excellent and one of the best locations in SD, a block from the best spot on the Malecon and right dead center of "ciudad universitaria" if you know what I mean - I've seen the Bldg and for the price, very tempting.

    Get an attorney to ensure everything is in order and clean. You have everything on that location, from supermarkets to art and walking distance to Maximo Gomez, hell, you could literally just walk to the old embassy.

    ps: How would you pay for it? This is the step of where most expats get stuck at due to the finances involved.

    I'll probably just write him a check since i dont believe i can finance here.

    Any better ideas since im clueless

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