Normal Fee

Wanna

Member
Feb 1, 2006
269
14
18
I want to purchase a condominium, I have the estimate and I want a attorney to complete the process. What is the "normal" average fee for this process. If all parties agree on price, how long should I expect the process to take? I also want to do some remodeling so should I require the blue plans or would the construction company I hire for this remodeling provide this information?
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
2,359
252
83
www.drlawyer.com
Closing costs on a typical real estate transaction are as follows:

1% of the purchaser price for the attorney/notary; 3% of the fiscal value of the property in gov't taxes.



Time to obtain a new title is now uncertain with the application of the recent law against money laundering.
 

LTSteve

Gold
Jul 9, 2010
5,449
23
38
I want to purchase a condominium, I have the estimate and I want a attorney to complete the process. What is the "normal" average fee for this process. If all parties agree on price, how long should I expect the process to take? I also want to do some remodeling so should I require the blue plans or would the construction company I hire for this remodeling provide this information?

First of all where are you purchasing this property? Is it is a gated or a have a condominium association. Is this new construction or an existing building? It sounds like this is a builder you are buying from and you want to change some of the features either inside or out? Yes, it would be helpful to have blue prints. Depending on when you actually sign a contract it should be about 30-45 days. Just remember it is of the utmost importance that get receive a legal title when your lawyer completes the transaction. Are you paying cash? Are you a citizen or legal resident of the DR? As you can see there are many questions based on the little amount of info you provided.
 

Wanna

Member
Feb 1, 2006
269
14
18
First of all where are you purchasing this property? Is it is a gated or a have a condominium association. Is this new construction or an existing building? It sounds like this is a builder you are buying from and you want to change some of the features either inside or out? Yes, it would be helpful to have blue prints. Depending on when you actually sign a contract it should be about 30-45 days. Just remember it is of the utmost importance that get receive a legal title when your lawyer completes the transaction. Are you paying cash? Are you a citizen or legal resident of the DR? As you can see there are many questions based on the little amount of info you provided.

Sorry I left out these details: The property is in Santo Domingo in an existing building that does have a condominium association ( I am purchasing it from the proprietor), and I want to change some features in the condominium. I am a single permanent resident paying cash for the condominium intent on giving it to my daughter when she comes of age and certainly after my demise. Thank you for those valid pointers.
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
I recently sold my house and the buyer was charged 1000 dollars fixed fee for making the contract, legalizing it and getting the title (excluding the transfer taxes to be paid ofcourse). That was about 0.3% of the value of the sale. There were some small mistakes in the original title I was holding and they were fixed in the process too. (Square meters of the solar and of the constructed meters were inverted). 

We signed the contract end of June and buyer got the new title end of August. 
 

TropicalPaul

Bronze
Sep 3, 2013
1,366
614
113
I just bought an apartment in Santo Domingo and paid just over US$ 2000 in legal fees. It should have been a simple case but ended up more complicated. I was quoted a wide range of fees by different law firms, the most expensive was US$ 5500. Make sure you don't just choose a law firm on price. What drove me crazy about using one of the firms that others rave about on DR1 is that their lawyers are almost always in meetings and it takes then 24 hours to return your calls. The guy I used gave me his whatsapp and returned calls quickly.
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
Again, this was before the anti-money laundering law came into effect.

Conveyance taxes cannot be less than 3% of the assessed value of the property.



I’m not talking about the tax but about the notary fee. That’s highly negociable and my buyer paid 0.3%, not 1%.
 

TropicalPaul

Bronze
Sep 3, 2013
1,366
614
113
I’m not talking about the tax but about the notary fee. That’s highly negociable and my buyer paid 0.3%, not 1%.

Agreed, mine worked out much lower than 1%. Both of the lawyers - mine and my sellers - were excellent, both speak very good English, they both specialise in property and both responded very quickly. I'm happy to recommend either if you'd like some names - not sure if we're allowed to post names and contact details on here, so please PM me if needed. I know that my sellers paid US$ 2000 as well.