Pay Me In Dollars!!!

eastcoastmike

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Jul 18, 2004
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How have those of you who have sold real estate been paid? Dollars or pesos? I have an apt for sale that clearly states in the ad " US Dollars only!!!! " but everyone wants to pay me in pesos. How did you get paid when you sold? Did you have to accept pesos and convert to dollars? Did you adjust the peso price knowing that you would lose in the exchange rate or did you just say dollars or no deal? Were you handed a check or was the money wired directly to your US bank?
Thank you in advance
 

cavok

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Jun 16, 2014
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I see no problem getting paid in pesos. Just make sure that you get what you want in USD after converting.
 

eastcoastmike

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Jul 18, 2004
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Where do you convert pesos to dollars? Will the bank do it for you and then transfer the dollars to your US bank?
 

cavok

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I was assuming that you have either a bank account here and/or a lawyer handling the transaction. The lawyer should be able to take care of that for you.
 

GringoRubio

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Oct 15, 2015
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You can open a bank account in dollars and another in pesos. The bank should allow you to transfer although at the usual cost and exchange rates.
 

DRob

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Aug 15, 2007
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My recent car sale culminated in part $$ and part pesos.

You can dictate the rate if you're worried.

Agreed, just set an exchange rate you're comfortable with (say, the bancentral rate at COB the day prior to or on closing day), and move forward.
 
Jan 9, 2004
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How have those of you who have sold real estate been paid? Dollars or pesos? I have an apt for sale that clearly states in the ad " US Dollars only!!!! " but everyone wants to pay me in pesos. How did you get paid when you sold? Did you have to accept pesos and convert to dollars? Did you adjust the peso price knowing that you would lose in the exchange rate or did you just say dollars or no deal? Were you handed a check or was the money wired directly to your US bank?
Thank you in advance
I was paid in dollars when I sold.....no adjustment necessary.

If you accept pesos you will be losing approximately 2,000 dollars per 100,000 of valuation after the buy/sell exchange rate spread is calculated.

Tell the buyer to convert to dollars....it is not like it cannot be done. Note that if it is a large amount of dollars needed, the transaction for either you or them could take several days to complete.

Money was wired into my US account.....no way would I leave that much money in a DR bank....ever.

Respectfully,
Playacaribe2 
 
Jan 17, 2009
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Why can't the buyer exchange pesos to dollars and pay you in dollars?  It doesn't make sense.  Either they do it and lose in the ER, or they do it, and pay the spread.
 

Mauricio

Gold
Nov 18, 2002
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I sold in USD and they paid a part in USD and another part in DOP at the going rate at the days of payment.

Be careful though accepting pesos equivalent even at the going sell rate of the bank. Dollars are already scarce since summer 2017, they won’t give you more than 5k or maybe 10k per day and in the meantime the rate goes up. Find first a bank who will sell you the whole amount and at what rate and tell the buyer that’s the rate you’ll accept the money at. 

In my case though we split the difference between the official sell rate and the actual ‘sell me the whole amount at once rate’ since he paid a big chunk in USD and also paid almost the full amount several month before I had to move out. That saved me interest payments on the load I had, so I couldn’t complain anyway. 
 
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