Delay before entering a house

Rep Dom

Bronze
Dec 27, 2011
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Hi everyone, heres my question: when someone buys a house. I guess he signs a contract to reserve the house. Then what's the legal delay to complete the transaction, pay the house and move into it?
:)
 

Ken

Platinum
Jan 1, 2002
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This needs to be worked out with the seller. This would be included in the terms of the deal and the schedules of those involved in the closing.

Getting a title for the property is another thing. That usually takes time. But you don't have to wait to move in until you get the title.
 

Criss Colon

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Jan 2, 2002
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yahoomail.com
All good questions.
You SHOULD have a LOT MORE,before you even think about making an "offer"!
As "HB" always tells us,"Lawyer UP!"
If not,why not,don't you have a GREAT Real Estate attourney's office advising you BEFORE you make any move????
AND I mean a law firm with a real office,with doors and windows,not some "street lawyer, friend of your brother in law's cousin!
CC
 

Rep Dom

Bronze
Dec 27, 2011
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Of course, I know about the lawyer stuff and would never do anything without a well known and reliable lawyer... :)
 

belgiank

Silver
Jun 13, 2009
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Now that I know you are moving to Sosua, use Guido Perdomo or Guzman as a laywer, and let them check titles, etc... before you pay one dime...

If necessary place the money into an escrow account with one of them.

You need title (quite a lot of times dubious) and deslinde when you buy a property. Well, let me correct this, the seller needs these, but frequently they will want to use your money to pay for the deslinde, as it is quite expensive...

You also need to check if all outstanding bills (edenorte electricity, property taxes, etc...) are paid in full by the owner. If not, you will pay them before you get any service...

I am sure you already knew this, but just wanted to warn you, just in case...

A bit more money spent on a good laywer, at the purchase, could save you heaps afterwards...

Good luck

BelgianK
 

drstock

Silver
Oct 29, 2010
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Now that I know you are moving to Sosua, use Guido Perdomo or Guzman as a laywer, and let them check titles, etc... before you pay one dime...

If necessary place the money into an escrow account with one of them.

You need title (quite a lot of times dubious) and deslinde when you buy a property. Well, let me correct this, the seller needs these, but frequently they will want to use your money to pay for the deslinde, as it is quite expensive...

You also need to check if all outstanding bills (edenorte electricity, property taxes, etc...) are paid in full by the owner. If not, you will pay them before you get any service...

I am sure you already knew this, but just wanted to warn you, just in case...

A bit more money spent on a good laywer, at the purchase, could save you heaps afterwards...

Good luck

BelgianK

I used one of the above lawyers when I bought my place and even they didn't tell me it was the seller's responsibility to get the Deslinde. An expensive omission, so even the most highly thought of lawyers don't tell you everything!
 

Randall Bell

New member
Feb 17, 2012
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Not to hijack this thread, as it seems this may be relevant to anyone about to close on a house --

who do you put the name of the house in?
you as a foreigner?

have any of you succesfully put a house in the name of a foreign company? for example a panama entity?

that way when you sell the house, you can just sell the company and keep the transaction tax free(er)?
 

Rep Dom

Bronze
Dec 27, 2011
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to derfish: normally, for instance in Europe, when you buy a house, you sign a contract which says I buy the house. You pay like 10% of the price and then starts the legal process. And three months later, you pay the rest of the price, complete all the legals with lawyers, the house becomes your property and you get the key. So there's a 3 months legal delay... How does it go in DR?