All:
Today was the official launch of the Roco Ki mega-luxury resort in Punta Cana; things appear to have gone very smoothly. The large majority of the lots/condos are already subscribed, and "American-style" financing for many of them is already being processed.
Roco Ki is anchored by the Westin, and the grand opening of the hotel itself is to take place in April of 2006. Today was the Founder's Priority Selection Event, in which the purchasers of estate lots and condos made their selections.
Today marks a milestone because it is the first time that a luxury resort has launched in D.R. while offering "American-style" mortgage financing to American and Canadian buyers; i.e., with low interest rates, long amortizations, and very favorable terms. In the past, most resort-homebuyers have been forced to either pay all-cash or use unfavorable terms, i.e., Scotia Bank's 22% interest rates, etc.
Titan Reserve LLC began the financing process for American and Canadian buyers at Roco Ki about a month ago, such that many of the homebuyers were "preapproved" before they appeared at the launch just as would be done for a resort opening in the U.S.
Although I want to make this a general informational post for D.R.-real-estate watchers, I'd like to mention that Titan Reserve LLC has been providing the same type of financing for other properties in D.R., working through various developers and realtors, for about a year now.
Anyway, I thought I'd pass along the good news. From what I can see, home financing on favorable terms for Americans and Canadians will become increasingly available during the coming months and years.
Ed Flower
Titan Reserve LLC
commercial.loans@gmail.com
614-378-4025
Today was the official launch of the Roco Ki mega-luxury resort in Punta Cana; things appear to have gone very smoothly. The large majority of the lots/condos are already subscribed, and "American-style" financing for many of them is already being processed.
Roco Ki is anchored by the Westin, and the grand opening of the hotel itself is to take place in April of 2006. Today was the Founder's Priority Selection Event, in which the purchasers of estate lots and condos made their selections.
Today marks a milestone because it is the first time that a luxury resort has launched in D.R. while offering "American-style" mortgage financing to American and Canadian buyers; i.e., with low interest rates, long amortizations, and very favorable terms. In the past, most resort-homebuyers have been forced to either pay all-cash or use unfavorable terms, i.e., Scotia Bank's 22% interest rates, etc.
Titan Reserve LLC began the financing process for American and Canadian buyers at Roco Ki about a month ago, such that many of the homebuyers were "preapproved" before they appeared at the launch just as would be done for a resort opening in the U.S.
Although I want to make this a general informational post for D.R.-real-estate watchers, I'd like to mention that Titan Reserve LLC has been providing the same type of financing for other properties in D.R., working through various developers and realtors, for about a year now.
Anyway, I thought I'd pass along the good news. From what I can see, home financing on favorable terms for Americans and Canadians will become increasingly available during the coming months and years.
Ed Flower
Titan Reserve LLC
commercial.loans@gmail.com
614-378-4025
