buying a house with fast closing.

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680680

On Vacation!
Feb 18, 2005
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Hello Everyone

I have a friend buying and closing the deal in less then 10 days. This seems very fast and now we find out that the house has mortgage on it. i know the Dominican family as the property is on the same street as mine and i had no problems with my title when we bought the land. Is they anything my friend should be cautious about
 
H

HOWMAR

Silver
Jan 28, 2004
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680680 said:
Hello Everyone

I have a friend buying and closing the deal in less then 10 days. This seems very fast and now we find out that the house has mortgage on it. i know the Dominican family as the property is on the same street as mine and i had no problems with my title when we bought the land. Is they anything my friend should be cautious about
Click to expand...
Everything, including his own lawyer if he says he can close this deal this fast.
 
E

EncoreFun

New member
Dec 23, 2005
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Mortgage

First thing you need to do is get a copy of the mortgage papers. Is the title still in the Vendors name or has the title been transfered to the bank? The agreement has to state that the bank gets its funds first, you reputable Lawyer should pay them directly, and whats left over is the Vendors. Any other liens on title need to be investigated by your lawyer. Good Luck, it aint Roses till it Closes.
 
Hillbilly

Hillbilly

Moderator
Jan 1, 2002
18,948
514
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STOP THE FREAKIN' deal NOW!!

Any time you go fast in the DR you are going to get screwed to the wall!!

There is no way in hell that you can do this deal this fast. Something is very fishy!

Go to another lawyer. Get second and th=ird opines onthis deal.

Or pay!

HB :D:D:D
 
L

Lionking

New member
Jun 23, 2006
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I also like to know what is the best way to buy real estate in DR? So far I find most "Real Estate Agents" either know little or very lazy.
 
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