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Thread: Im thinking of buying a condo. Help!

  1. #21
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    The only way IŽd ever consider buying a home down here would be if I had children who planned to
    spend their adult years here. If not then just rent.

  2. Likes Bronxboy, USA DOC liked this post
  3. #22
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    Thanks guys for all the wonderful replies. I have another question. What are these costly maintenance issues you speak of? The owner stated that he pays condo fees that takes care of the building, cleanup, gas, and water. I believe he said its 3800 pesos per month. I understand the normal wear and tear inside the apartment will require maintenance. And finally does anyone sell hurricane/earthquake insurance here?

    Clueless Alex

  4. #23
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    Quote Originally Posted by alexw View Post
    I believe he said its 3800 pesos per month.
    Start believing things people down here tell you when they are trying to sell you something
    and I guarantee you.. youŽll have problems.

  5. #24
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    Quote Originally Posted by alexw View Post

    Clueless Alex
    Exactly.

    You are clueless so stay renting for now!!!

    Moderator DR1.com

  6. #25
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    Quote Originally Posted by CristoRey View Post
    Start believing things people down here tell you when they are trying to sell you something
    and I guarantee you.. youŽll have problems.
    I don't understand what you mean? I wouldn't do anything unless I have it in writing from a reputable lawyer.

  7. Likes Wishing you well liked this post
  8. #26
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    Quote Originally Posted by Bronxboy View Post
    Exactly.

    You are clueless so stay renting for now!!!
    How does this help me?

    Give me some valid information. Just saying stay renting means nothing. I have been here for 4 months already. Ive been coming back and forth to the country for a decade.

  9. Likes Wishing you well, drescape24 liked this post
  10. #27
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    Quote Originally Posted by alexw View Post
    Thanks guys for all the wonderful replies. I have another question. What are these costly maintenance issues you speak of? The owner stated that he pays condo fees that takes care of the building, cleanup, gas, and water. I believe he said its 3800 pesos per month. I understand the normal wear and tear inside the apartment will require maintenance. And finally does anyone sell hurricane/earthquake insurance here?

    Clueless Alex
    Alex, follow your gut feelings. Most of the ones trying to deceive you have never owned anything on their life nevertheless in the DR. They are a bunch of clueless/afraid of making a decision themselves thus their provided thoughts.

    The "maintenance" will be exactly as you stated "condo maintenance fees" to cover for the most part what you have already pointed out; gas, water, cleanup, security and cable tv at some places. The amount of these fees would vary depending on the "junta" of neighbors living in the building.

    Your/building location tells me that you do live with very successful Dominicans thus your junta should be very strong. You have lived in the DR enough to make a decision, do not allow scary thoughts to steer you away from something you know feels right within you.

    I purchase and sold when it was time also in SDQ, not a problem at all with anything, not with maintenance, junta, neighbors, nada, nothing. Again, most of these folks have never outright owned anything and will suggest to stay at a B&B for ever.


    Is your decision, I don't sell real estate and do not live at the DR any longer although do travel very often - good luck and stay thirsty my friend!

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  12. #28
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    Quote Originally Posted by Wishing you well View Post
    Alex, follow your gut feelings. Most of the ones trying to deceive you have never owned anything on their life nevertheless in the DR. They are a bunch of clueless/afraid of making a decision themselves thus their provided thoughts.

    The "maintenance" will be exactly as you stated "condo maintenance fees" to cover for the most part what you have already pointed out; gas, water, cleanup, security and cable tv at some places. The amount of these fees would vary depending on the "junta" of neighbors living in the building.

    Your/building location tells me that you do live with very successful Dominicans thus your junta should be very strong. You have lived in the DR enough to make a decision, do not allow scary thoughts to steer you away from something you know feels right within you.

    I purchase and sold when it was time also in SDQ, not a problem at all with anything, not with maintenance, junta, neighbors, nada, nothing. Again, most of these folks have never outright owned anything and will suggest to stay at a B&B for ever.


    Is your decision, I don't sell real estate and do not live at the DR any longer although do travel very often - good luck and stay thirsty my friend!
    Thank you my friend. I come here for valuable advice from expats who live on the island but it seems like most of the DR1 people hate the place. Very interesting.

  13. #29
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    Valid information as requested.

    1. Get a copy of the title deed and a copy of seller's cedula.
    2. Get a lawyer or go to title office yourself and check he really does own said apt. and check back of original title to see if mortaged
    3. Go to impuesto interno (tax office) or get lawyer to go and check if said apt. is mortgaged or has any money owed on it such as original purchase tax or property tax depending on value.
    4. Talk to other owners and head of the property administration to see how many people pay and what services are provided by the monthly condo fees.
    5. Contact insurance companies to check hurricane and earthquake cover. It is available but much more expensive if you have glass windows lol. And the one I contacted refused to do a survey as we had a dog (??).
    5. If all ok and if the worst comes to the worst you can afford to lose all of your money then get lawyer to draw up contract and go for it.

    Matilda

  14. #30
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    Quote Originally Posted by alexw View Post
    Thanks guys for all the wonderful replies. I have another question. What are these costly maintenance issues you speak of? The owner stated that he pays condo fees that takes care of the building, cleanup, gas, and water. I believe he said its 3800 pesos per month. I understand the normal wear and tear inside the apartment will require maintenance. And finally does anyone sell hurricane/earthquake insurance here?

    Clueless Alex

    Alex if you wish this info and professional reliable help Pm me. The same brother in law is very experienced in buying real estate for starting hotels.*

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