Real Estate fast closing - ??

B

batich

Guest
Dear Mr.Guzman,

I could ask you via email but I think this question is of common interest so let`s put it in the Forum.

A client of mine is coming from a very remote country to buy a house in Cabarete-Sosua are for investment purposes.
He already has a house in mind, but possibly after I show him some more properties he might decide to buy something different.

I plan to use your services for all formalities related to payment and closing.

My question is :

Is his 10 days that he plans to stay in DR enough to do all red tape to complete the deal? Or he has to come again (his country is very far away!)? Or he must give me power of attorney?

What documents he must have with him?

What is the reasonably preferred form of payment? Bringing with him $300G cash is out of the question of course.

Both him and the seller are citizens of European countries. How is it possible to make payment directly though a European bank?

Thank you in advance!
 
Apr 30, 2006
193
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www.drlawyer.com
Dear Mr.Guzman,

I could ask you via email but I think this question is of common interest so let`s put it in the Forum.

A client of mine is coming from a very remote country to buy a house in Cabarete-Sosua are for investment purposes.
He already has a house in mind, but possibly after I show him some more properties he might decide to buy something different.

I plan to use your services for all formalities related to payment and closing.

My question is :

Is his 10 days that he plans to stay in DR enough to do all red tape to complete the deal? Or he has to come again (his country is very far away!)? Or he must give me power of attorney?

What documents he must have with him?

What is the reasonably preferred form of payment? Bringing with him $300G cash is out of the question of course.

Both him and the seller are citizens of European countries. How is it possible to make payment directly though a European bank?

Thank you in advance!

Dear Batich:

He could either give you our us the power of attorney to represent him in all matters related to the purchase. Our firm does this in a day-to-day basis. 10 days is surely not enough to finalize the purchase.

We would only need his passport for the POA.

Fund transfers in real estate purchases are mostly done via bank transfers: The funds go first to our firm's escrow account in the U.S. and then are wired to the seller at the time stated in the contract (we consider this safer for our clients). Direct payments are too risky.

For any other details please have your friend email us at: info@drlawyer.com.

Regards,

Alfredo Guzman
 

GALK

New member
Mar 12, 2006
116
0
0
If both seller and buyer are foreigners is it legally permitted to execute the payment abroad and only pay applicable taxes in DR?