- Thread starter la peke
- Start date
real estate courses
I feel compelled to leave my 2 cents worth or pesos or whatever you care to call it , I was a licensed Real Estate Broker and a licensed real estate appraiser and operated a small appraisal firm in the states for a number of years, working constantly with other broker, agents and both large and small banks, credit unions etc. In summary, I never met an agent I couldn't grow to dislike or a bank that was on the up and up in its real estate transactions. I speak from much hard-earned experience because due to my reluctance to play ball ( become their yes man) , they drove me out of business and I'm sure it's no different anywhere. Trust no one when it comes to real estate.............and if you doubt what I say, take a look at what the bad portfolios held by the banks because of crooked , banks ,RE agents and appraisers have done to the USA economy.
Thanks for your input Chuckles... but this has nothing to do with the SCUMBAGGERY or trustworthiness of Dominican Real Estate Agents. I happen to agree most Licensed Agents in the US are shady, but at least you get a clean title!
There are few laws regulating either real estate agents or franchises. The DR is truly the Wild West in real estate. It may be the single largest area of fraud in the whole country, and besides the new title regulations one better be damn sure before dropping one dime on RE in the DR.
A brand name here in RE is only as honorable as the people who bought the franchise, period. While some C21 or ReMax franchisees are honorable, others may not be.
Caveat Emptor.
Tambo is correct.
A brand name here in RE is only as honorable as the people who bought the franchise, period. While some C21 or ReMax franchisees are honorable, others may not be.
Caveat Emptor.
Tambo is correct.
I have appeared in court numerous times as an expert witness due to so-called clean titles that weren't properly researched. sewer lines located under new homes, right of ways not shown on plates, easements not declared and the majority due to lazy legal work but guess what at times the agent was knowledgable about the problem and never disclosed it and the banks cared less so now the poor buyer is left having to sue the parties involved for what he has already paid for and didn't receive. " A clear title" Tamboee , why sooooo upset ?
Nobody is upset, just wondering what your Resume has to do with THE DOMINICAN REPUBLIC REAL ESTATE market?
FYI....I Buy/Sell Co-Ops in the USA which have none of the above issues, so I am not offended in any way.
cheerio
ah !!! you buy and sell co-ops in the USA ? now I understand why you are soooo upset. cheerio
Um, someone mentioned "Stewart Title".. Well Stewart Title is also a "Franchise in the DR", and for years they where selling title insurance to people who bought Condos and Villas that didn't "come with titles".. So in other words waste of money.. They sold it as "exploring for titles" or "history of title" even though none had ever yet been issued... Im not saying Stewart is not a good company just saying how they made coin when titles weren't there to be "INSURED".....
How do you "insure" something that has never been issued by the land registry? The DR is a mine field of jamming one up.
How do you "insure" something that has never been issued by the land registry? The DR is a mine field of jamming one up.
Correct me if I'm wrong please...but doesn't Stewert Title protect your property as of the time of contract only? i.e Stewert scrubs the title to the new place you're buying & it's all clean, you are issued an insurance policy against said property. However, if the property should be sold from unscrupulous members inside/outside the National Registry forging documents after the fact (which is the Modus Operandi in the DR, is it not?) that would NOT be covered. i.e. If a developer sells a property & the title is clean at the time of purchase Stewert guarantees it, BUT if after the fact that developer is sued & loses the property outright & thus you lose your condo, Stewert does NOT cover that correct?
I'm not trying to stir the pot but I'd like a definitive answer from someone (not necessarily you) who knows because I think it's a critical piece of understanding for us Ex-pats to be able to answer definitively... "Yes, title insurance is good for those moving to the DR" or "No, this will not protect you if push comes to shove" heard a lot of conspiratorial things about Stewert & would like to put them to bed.
The usual suspects...
belgiank, the only lapdog I see here is Acira's lapdog. I suggest you think long and hard before you post, as it could well be your last. Anymore BS and your posts set to moderation mode. Meaning they get seen when approved by me or a mod.
Tambo, backoff! You should know better, especially as you have been in and out of DR1 jail more times than many.
Moving on...
Despite the DR having no regulation, it has been steadily improving over the years in regards to real estate transactions. Make sure you use a well known and DR1 recommend broker/agent and lawyer. Plenty of posts on the board pointing you in the right direction.
Stewart title has paid out millions over the years, especially over the north coast Atlantis project.
Drop them an email, I'm sure they will have no problems detailing what they have paid out and why etc.
They are run by a well respected group here in the DR and haven't heard anything bad about them.
belgiank, the only lapdog I see here is Acira's lapdog. I suggest you think long and hard before you post, as it could well be your last. Anymore BS and your posts set to moderation mode. Meaning they get seen when approved by me or a mod.
Tambo, backoff! You should know better, especially as you have been in and out of DR1 jail more times than many.
Moving on...
Despite the DR having no regulation, it has been steadily improving over the years in regards to real estate transactions. Make sure you use a well known and DR1 recommend broker/agent and lawyer. Plenty of posts on the board pointing you in the right direction.
Stewart title has paid out millions over the years, especially over the north coast Atlantis project.
Drop them an email, I'm sure they will have no problems detailing what they have paid out and why etc.
They are run by a well respected group here in the DR and haven't heard anything bad about them.
Ethical people who appreciate full disclosure when involved in a real estate transaction. All parties to the transaction who are fully informed have very few surprises after closing, and agents reap the reward of great referral business from previous clients.
I agree with Chuck's assessment of the U.S. market, in which the source of those massive frauds sprouted from Fannie May and Freddy Mac, the two government sponsored enterprises who, at the beckoning of a couple of congressmen, loosened lending requirements and relied heavily on up market leverage, i.e., selling of risky loan portfolios on the secondary market. When a taxi driver or a waiter could purchase an $800K home on a $$30K income, and the secondary market was giddily stupid by thinking the up market would last forever, the bubble was bound to burst.
Americans now know that buying a house is not one of their civil rights. Some people should never own a home, and now the U.S. market is attempting to recover from that.
The DR isn't like going to Colombia and setting up shop on the Venezuelan border to start processing cocaine, sheesh.
There are many, many foreigners that have come over here and established thriving businesses with apparently no backlash from "competitors" and are still doing it to this day.