Fee for realtors to check credit history?

Sounds like a crock of poopoo to me.

Pedro Tercero said:

My Dominican gf is moving with her 2 daughters and mother, from her home in Guaricano de Villa Mella (Santo Domingo area) to an apartment in Mirador Norte near 27 Febrero and Caonabo. The realtor for the apartment she likes asked her for DR1,000 as a fee for doing a credit check. She never heard of this before, doesn't like it, and therefore doesn't want to work with this realtor anymore or rent the apartment now. Is this fee a standard thing she's going to have to pay any realtor, or is it as unusual as she thinks it is?

Thanks,

Pedro Tercero

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Can't answer for DR BUT this is very standard for US. Generally the fee is about $25. Landlord credit check services charge about $15 so the rest go to adm. I paid $65 two years ago for this credit check for an apt. I rented for my mother in my name. I thought it was VERY high but I wanted the apt. and it was "take it or leave it". I took it and it hasn't bothered me until you brought the subject up. Hey, Thanks! :>

Equifax has an office in Santo Domingo on Winston Churchill, below JFK Expressway. If you walk in, the fee for your credit report is about RD$500 or $600. Most lenders or people you are seeking credit from will not accept a report you bring in, they want to get it directly from Equifax. The report they issue is the Dominican Republic credit history of the person named. (it doesn't include your Equifax information in other country's histories).

In my case, I have normally had to provide a fiador and references for apartment leases rether than a credit check.

If you are talking about checking Dominican credit history, any reputable realtor will already have an account and able to pull credit histories at their business if this is required. This is standard practice and I learned this from a good friend who has this same service. I think this may be a new way to milk more fees.

Yes, they do Chip, and it isn't free. They must pay a monthly fee and transaction fees. Most won't eat it, so they pass it on to the users (along with their margins included).

GringoCArlos said:

Yes, they do Chip, and it isn't free. They must pay a monthly fee and transaction fees. Most won't eat it, so they pass it on to the users (along with their margins included).

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I knew that, and depending what plan you get you can request an unlimited amount for a flat fee. My point is it is a nominal amount anyway and why should they charge it when banks don't charge you to open an account. Also, the realtor didn't require one of my wife when we rented our house in santiago 2 years ago and she is a citizen. I bet you can find realtors who won't charge anything. then again, time can be valuable and since it is probably such a small amount, it may be just worth it to pay if the house is a good deal.