Anyone Sell or Buy Property in DR from the US??

AlterEgo

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Anyone Sell or Buy Property in DR from the US??

We've got a Dominican buyer for a property in DR - they [and we] live in NJ.

Has anyone personally done this through the Dominican Consulate in the US, or know if it really CAN be done that way?Hassle? Complications?

Buyer wants to pay us here in NJ. We'd prefer the money here in NJ too, as we're selling in dollars.

Looking for suggestions from those of you who have done this without physically flying to DR.

If we have to, we will fly down, but we're watching our grandsons for the summer and it's complicated.

Since we've never sold anything there before, some other questions:

1. What kinds of fees, taxes, expenses will we have?

2. How long does it take - i.e. how long would we have to be in DR?

3. Anything I'm not asking that I should be?

Thanks
 

jimmythegreek

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Dec 4, 2008
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Anyone Sell or Buy Property in DR from the US??

We've got a Dominican buyer for a property in DR - they [and we] live in NJ.

Has anyone personally done this through the Dominican Consulate in the US, or know if it really CAN be done that way?Hassle? Complications?

Buyer wants to pay us here in NJ. We'd prefer the money here in NJ too, as we're selling in dollars.

Looking for suggestions from those of you who have done this without physically flying to DR.

If we have to, we will fly down, but we're watching our grandsons for the summer and it's complicated.

Since we've never sold anything there before, some other questions:

1. What kinds of fees, taxes, expenses will we have?

2. How long does it take - i.e. how long would we have to be in DR?

3. Anything I'm not asking that I should be?

Thanks

See that advertisement for the law firm above: Guzman Ariza. I suggest you call them-Think-escrow account.
 

gandolf50

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Apr 17, 2011
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Anyone Sell or Buy Property in DR from the US??

We've got a Dominican buyer for a property in DR - they [and we] live in NJ.

Has anyone personally done this through the Dominican Consulate in the US, or know if it really CAN be done that way?Hassle? Complications?

Buyer wants to pay us here in NJ. We'd prefer the money here in NJ too, as we're selling in dollars.

Looking for suggestions from those of you who have done this without physically flying to DR.

If we have to, we will fly down, but we're watching our grandsons for the summer and it's complicated.

Since we've never sold anything there before, some other questions:

1. What kinds of fees, taxes, expenses will we have?

2. How long does it take - i.e. how long would we have to be in DR?

3. Anything I'm not asking that I should be?

Thanks

Ive bought property three times using a lawyer who would send me all the paperwork and then I went to the local D.R. embassy and had the papers "notarized" my signature( I forget what they called it). Then I sent the papers back by DHL. My "brother in law" has access to my other half's account and he handled the smaller fees and deposits etc. The large payments once all the paperwork was done and finished I sent directly by wire transfer. Its doable. The first time was a little difficult because no one involved had ever done it before. I had to explain to them at every step how we could do it. I think if you had a really decent lawyer (Oxymoron!) it should be fairly painless.
 

LTSteve

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Jul 9, 2010
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Anyone Sell or Buy Property in DR from the US??

We've got a Dominican buyer for a property in DR - they [and we] live in NJ.

Has anyone personally done this through the Dominican Consulate in the US, or know if it really CAN be done that way?Hassle? Complications?

Buyer wants to pay us here in NJ. We'd prefer the money here in NJ too, as we're selling in dollars.

Looking for suggestions from those of you who have done this without physically flying to DR.

If we have to, we will fly down, but we're watching our grandsons for the summer and it's complicated.

Since we've never sold anything there before, some other questions:

1. What kinds of fees, taxes, expenses will we have?

2. How long does it take - i.e. how long would we have to be in DR?

3. Anything I'm not asking that I should be?

Thanks

I recently sold my condo in Las Terrenas to a buyer from NYC while I was still in NYSTate. First you will need an attorney in the DR or if the buyer has an attorney and is trust worthy you can use their attorney. You will need an attorney in the DR to draw up a power of attorney which will assign the rights of someone of your choosing to represent you in the DR with the purchase.This may be an attorney or a real estate agent or a friend. He will have the legal authority to sign the documents on your behalf. You will need to furnish an attorney with the title of the property, a copy of your US passport that you held at the time of purchase showing the number on your passport corresponds with the one on the title. Is this just land or is it a house or condo? If it is a dwelling than you would have to have someone make a list of contents that go with the sale. The attorney will also have to file a form that clears you of any Domincan property taxes. There may be other documents , such as, the sales contract. You can do this without going to the DR but I don't think you can do it without the involvement of a DR attorney. By the way, have your attorney in the DR handle the translation of documents into Spanish. DO NOT do it through the Domincian Consulate in NYC. The prices they charge are outrageous. If you need help with a very honest and reliable attorney send me a private message. I can provide you a name. Good luck.
 

Drro

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Mar 22, 2006
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Personal experience with Guido Perdomo - smooth sailing with him. Honest, trustworthy, and very experienced in real estate transactions for expats.

Good luck.
 

AlterEgo

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Better posted in the "Legal Forum" where Fabio Guzman will see it!
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We aren't Lawyers, we just "Play Them" on DR1.

I thought about putting it in Legal, but I was looking for personal/practical experiences. We have a lawyer in SD.

We were trying to avoid flying down there just for this, I guess we could give power of attorney to one of my husband's brothers if we decide not to go. The buyer doesn't want to bring cash to DR - so I'm thinking some certified checks would work.
 

jimmythegreek

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Dec 4, 2008
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I thought about putting it in Legal, but I was looking for personal/practical experiences. We have a lawyer in SD.

We were trying to avoid flying down there just for this, I guess we could give power of attorney to one of my husband's brothers if we decide not to go. The buyer doesn't want to bring cash to DR - so I'm thinking some certified checks would work.

Escrow account in U.S. to transfer between accounts, but it's gonna cost ya. Better to be safe than sorry.
 

arrugala

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Nov 7, 2010
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I left a grand amt in guido Perdomos escrow acct waiting for a deal to climax , however the party died , so it went back to the families estate . This took unfortunately 15 months ..... I requested my escrow amount back and got it immediately ! I WOULD HAVE ONLY DONE THIS WITH ONE LAWYER IN THE DR! So do what you need to do escrow accts in usa , no need to bring a dime into the country ...Use you brain first , then your Brawn !
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drescape24

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Nov 2, 2011
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I also used Guido Perdido and it was the easiest real estate transaction I ever had. We faxed all the paperwork and used his bank in the state to transfer money. Good luck.
 

LTSteve

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Jul 9, 2010
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I thought about putting it in Legal, but I was looking for personal/practical experiences. We have a lawyer in SD.

We were trying to avoid flying down there just for this, I guess we could give power of attorney to one of my husband's brothers if we decide not to go. The buyer doesn't want to bring cash to DR - so I'm thinking some certified checks would work.

I am not quite understanding you. If both you and the buyer are in NJ then why is there any need to bring and send any money to the DR? Upon signing a sales agreeement he will give you either a check, cash or wire transfer to you or your account. Upon completion of the transfer of the title and the other documents needed for the closing the balance of the funds will be given to you based on your previous arrangement with the buyer. No funds are going to the DR and your power of attorney will sign all the necessary forms in the DR. Your attorney in the DR can draw up the correct power of attorney document. The only complicated part is that the power of attorney for the DR must be stamped and approved by the Domincian Consulate in NYC. Since you live in NJ you can hand deliver this in Manhattan or fedex it if you don't want to bother driving into the city. Once you have this in hand you can scan this and e-mail to your attorney in the DR and then Fedex the original to him so he can have it translated to Spanish. Fedex takes about 2 days to be delivered in the DR and will cost you between $40-50usds to send. Again, I don't think any payments to you for the property need to go to the DR.
 

DRdreaming

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Jul 29, 2014
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I purchased my condo without leaving the States. The person I purchased from was also in the States. Their lawyer in the Dominican Republic drew up the contract, sent it to me by DHL, I signed it, sent it to the seller, they signed it and returned it to DR. Their lawyer handled the transfer of title and all other necessities. Any funds I needed to pay at the time were handled by wire transfer. It maybe wise to ask the buyer to transfer funds to cover title transfer, and all other fees directly to your lawyer there, so you do not incur the charges for the wire transfer. The remaining funds you can collect in the US.
 

irishpaddy

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Sep 3, 2013
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I do not think it is wise to use the same attorney the seller is using ...as LT suggested...and I doubt a reputable lawyer would agree to work for both parties....I think it would be unethical
 

AlterEgo

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Just to tie up this thread, here's an update.

Buyer sent us a cashier's check for a deposit. Then we had our DR lawyer draw up a contract sent it to the buyer's DR lawyer. Their lawyer Fedex-ed it to NJ, and we met the buyers at a Dominican restaurant in Atlantic City [seemed appropriate] where we all signed the paperwork and they gave us the balance of the purchase price.

Turned out to be easy and painless.

We sold the property through a real estate ad on DR1.