real estate purchase

Hello,

We are no experts but when we bought our Villa this past July, on the closing day we handed the owner a certified cheque (bank draft). We thought of doing what you want to do, but we found that to be to risqu?.

We also brought about 10,000US in cash, some for the notary, some for the diffence of the exchange rate for that day, some for the taxes. (Now we have none left LOL)

I wish you good luck... and welcome to the DR.

Rachel

Be careful, very careful.

I only give the money to my attorney. He releases it after the deal is a done deal. ALWAYS use a attorney. I have 50 or more closings in the states without a lawyer so I am not big on paying too much for too little but here you can never be too careful. Keep your mouth shut or they will steal the gold fillings out of your teeth.

In our real estate business, we recommend an exchange (in buyer's lawyer's office) of a US/European bank check against holding company shares and/or title.

If your US/European bank doesn't FedEx you a bank check, send your money to a trusted US/European person via internet banking and have them FedEx you their bank's check, made out to the seller's name. Make sure their bank is internationally known and recognized. A Dominican bank check is acceptable if the seller wants to deposit the money in the D.R., which might have tax consequences for him.

In any transaction, where trustworthy paper is not exchanged simultaneously, trust is involved. I consider trust to be inappropriate for anything above $ 500, regardless which country or which lawyer you are dealing with.