Home building situation/Financing

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Jayshiznit

New member
Apr 5, 2007
21
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Hi all -

Let me explain my current situation..

Currently, my parents who own land in DR have legally passed over the property/land to me. In the early 90's they started building a home (mansion like) but never completed the project. I would love to start building and completing this home as a personal goal of mine but dont even know how to begin (dominican myself). Now, i would like to know if in the Dominican Republic one can obtain a building/construction/mortgage loan (bank) to cover 100% of this project and pay as one would here in the U.S. on a monthly- basis. If so, can some one provide some information of this process... On the internet there is valuable information but limited. NOTE: I already blue prints, titles etc..

Thanks in advance.
;)
 
S

sunshine73

New member
Apr 5, 2006
137
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Banks will lend money but it both a pain in the a$$ and i nthe wallet....Interest rates are at an all time high!!!
 
S

suarezn

Gold
Feb 3, 2002
5,823
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My advise to you is don't take a loan in The DR if you can avoid it (speaking from experience). The good thing is that in The DR you can take your time to finish this house, so I would say just keep building it little by little as you get some money do small things at a time. I have a friend who built a huge house this way....You know get a couple of thousand USD, buy some tiles and have them installed, get a few more USDs, buy a couple of doors, etc...
 
C

catcherintherye

Silver
Mar 2, 2008
2,902
544
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Of course, you want to make sure it is weather-proofed, and secure while you are in the process of building. Otherwise, everything you do will be either ruined or robbed.

Worse, you might find squatters living there one day, and you will discover what an interesting experience the DR courts can be.
 
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