BUYING APARTMENT WITH REMAX

USA DOC

Bronze
Feb 20, 2016
2,280
291
83
We have been screwed by lawyers as well in the DR with respect to real estate. So, you "takes your chances" either way.

As far as reducing the "value" to save on transfer tax, that is illegal but commonly done. Once again, you "takes your chances".
You might be able to cut your chances of being scammed, by hiring 2 attorneys ...one to check on the other.........
 

Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
1,148
430
83
-
For years I have always wondered why there is always a poster coming here to discuss buying in the DR. There are probably 200 respondses in the archives that have a negative outlook....."not a good idea! " Yet, every year someone gets a taste of the Caribean sun, feels the gentle breeze and says "I'm going for the golden ring".
Post #3
Reminds about a story I heard once about the guy that went to a restaurant. He asked "what's good tonight?"
The waiter answered" Everything BUT the fish". Patron says "I'll have the fish".
I do not recommend buying an apartment here in 🇩🇴 .
And this is after buying one. ;)
In fact I do not recommend buying real estate in 🇩🇴.
Why❓
Because it is not my job to tell other people what to do with their time and money.
But if someone asks, I have no problem sharing my experiences.
Here in LT, we have North American buyers who didn't even get a taste of the sun yet (!!!), asking about what is the best neighborhoods to buy. Of course, realtors and cogedores are more than welcome to help.

The fact that someone plan on dropping 300K+ in a place they have never set foot in will forever baffle me, whether it s DR or not. Makes me wonder if they know something I don't know :unsure:
This is a excellent point‼️
But some cannot understand why I drop 200+/USD each on two sticks to play 🎾
100 USD+ on my 👟 shoes
Or a 1000+ pm my sticks to play white ball 🏌️‍♂️⛳

One of the things I have found it that owners of 🇩🇴 Real Estate (expletive redacted) with you too much when you rent for my personal taste.
Once I decided I was going to spend a extensive amount of time here
That is when I decided I would buy an apartment here.
 

johne

Silver
Jun 28, 2003
4,561
1,150
113
Here in LT, we have North American buyers who didn't even get a taste of the sun yet (!!!), asking about what is the best neighborhoods to buy. Of course, realtors and cogedores are more than welcome to help.

The fact that someone plan on dropping 300K+ in a place they have never set foot in will forever baffle me, whether it s DR or not. Makes me wonder if they know something I don't know :unsure:
I get that feeling ("makes me wonder if they know something I don't know") every time I get overbid on a property that I want to buy to flip in the states. I know EXACTLY what you are talking about. I get over it real quick becuase I have learned all about the "Bigger Fool Theory".
 
  • Love
Reactions: Africaida

Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
1,148
430
83
-
I get that feeling ("makes me wonder if they know something I don't know") every time I get overbid on a property that I want to buy to flip in the states. I know EXACTLY what you are talking about. I get over it real quick becuase I have learned all about the "Bigger Fool Theory".
"Price is what you pay. Value is what you get." - Warren Buffett
 

yeptruthhurts

New member
Feb 10, 2021
25
12
3
33165
Well that has been my situation my entire life.
In my country of origin.
Here in the Dominican Republic 🇩🇴
DR1 too.

I make my own success.
If anyone here in 🇩🇴 expects the kind of service that they received in their countries of origin...
They are going to be disappointed.
A realtor here is not going to hold your hand.
A realtor here is not going to keep you from walking into a real estate transaction that is a land mind.
A realtor here is not going do anything that is not in their interests.

With that being said...
If you use them for what they can do for you.
Then put together your own team to handle your due diligence.
Then anyone can have the same success that I have had.
You see this is one area of my life where I do not have to be in a minority.
And neither does anyone else.
I know one bad egg doesnt damage the others (or something like that) but it seems like you are contradicting yourself.. you say you should not smear realtors here in the DR but then you say that a realtor here is not going to this and that... Well that's what they are supposed to do!!! They are supposed to help and guide you and make sure you arent buying a dud AND their interest is getting paid (by completing a sale)! so WTF? Then you have TO FORM A TEAM? If I had the resources and $$ to form a team to do something that should be simple for me I would be successful at everything! I must have read your post wrong...but doesnt make sense to me.
 
  • Haha
Reactions: Yourmaninvegas

yeptruthhurts

New member
Feb 10, 2021
25
12
3
33165
Here's an example of a shoddy group. LUCKY'S HOME, LUCKY'S REALTY. They have a few other names. I think the guy or gal in charge is named Luciano (maybe last name). They also have various phone numbers. And a clover leaf as a symbol ..of course

Anyway two years ago I was looking for buying a place and they would pop up on emarket, corotos, eavisos, everywhere. I would see a place i like and call them but it was sold or they never reply or they took weeks to respond. Great. Looking around in January, best prices for great places are all listed with them. Hey, many of those places were sold when I called before. Called now, not available, not available.. i sent 5 properties newly listed and they were not available or I have to call another of their agents who never respond. So why are they listing properties that arent for sale?! I mean on some of the sites it shows when the post was made so I know it wasnt an old post.

Anyway watch out for them.
 

Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
1,148
430
83
-
I know one bad egg doesnt damage the others (or something like that) but it seems like you are contradicting yourself.. you say you should not smear realtors here in the DR but then you say that a realtor here is not going to this and that... Well that's what they are supposed to do!!! They are supposed to help and guide you and make sure you arent buying a dud AND their interest is getting paid (by completing a sale)! so WTF? Then you have TO FORM A TEAM? If I had the resources and $$ to form a team to do something that should be simple for me I would be successful at everything! I must have read your post wrong...but doesnt make sense to me.
I am not going to explain it to you.
Sit on the sidelines.
This game ain't for you bro‼️
Starters don't complain about the calls from the referee.
They go hard in the paint until they win.

Welcome to the 🇩🇴
Where you play by their rules or go home.
Comprende ahora❓
 

2020

Member
Apr 10, 2012
223
6
18
Buying an older apartment via Remax and Banco Popular loan. Would like some tips, here's what happened so far:

Apartment building 20 apartments near Jardin Botanico. Nice little apartment. The owner has people renting it.
Saw the apartment and met the renters (cubans) who seem decent and told/showed us everything wrong, good, etc about the place. They have 7 years renting and will be moving out in 6 months. A signed and stamped letter from the company who manages the building says the apartment is uptodate with maintenance.

Copies of the title, ipi and another document were sent to me and seem to be inorder (i guess the bank will determine that?).

Any tips on what im missing to do or research with respect to the bank or remax or the apartment?

Do i need a lawyer... I am hoping not, since its remax and banco popular (where i am paying legal fees for the deal) I should be secure with respect to papers etc?!

Remax guy mentioned he can do a contract for less value so I pay a lesser amount of something..
The IPI has the value of the apartment less than have of what i am buy it for.

I have to get a banco popular assessment of value of the apartment.

Well thanks ahead of time.
You absolutely need a good attorney. Needs to check for HOA fees due and unpaid, He should do a title search, too - in case there is a lien against the title/property.

The cost of a good attorney is 1% of the transaction price.

In the DR, all real estate agents and "brokers" are ALL UNLICENSED. It's the Wild West, brother!
 

johne

Silver
Jun 28, 2003
4,561
1,150
113
Here's an example of a shoddy group. LUCKY'S HOME, LUCKY'S REALTY. They have a few other names. I think the guy or gal in charge is named Luciano (maybe last name). They also have various phone numbers. And a clover leaf as a symbol ..of course

Anyway two years ago I was looking for buying a place and they would pop up on emarket, corotos, eavisos, everywhere. I would see a place i like and call them but it was sold or they never reply or they took weeks to respond. Great. Looking around in January, best prices for great places are all listed with them. Hey, many of those places were sold when I called before. Called now, not available, not available.. i sent 5 properties newly listed and they were not available or I have to call another of their agents who never respond. So why are they listing properties that arent for sale?! I mean on some of the sites it shows when the post was made so I know it wasnt an old post.

Anyway watch out for them.
"Shoddy group", "watch out for them", "so why are they listing them"?

I spent about 4 minutes at their " sites". I don't think they are shoddy, IMHO they are good at their game of affiliate advertising. It seems to me they have figured out how to attract a lot of traffic and they are making a good deal of money by being "real estate advisors "(which is what they describe themselves as).You on the other hand have spent a great deal of time wastefully, calling and calling with no results and not knowing their game. That didn't help you your goal.

Up your game and get smarter than the next guy, who knows exactly why they are "listing" them.
 
  • Love
Reactions: Yourmaninvegas

yeptruthhurts

New member
Feb 10, 2021
25
12
3
33165
"Shoddy group", "watch out for them", "so why are they listing them"?

I spent about 4 minutes at their " sites". I don't think they are shoddy, IMHO they are good at their game of affiliate advertising. It seems to me they have figured out how to attract a lot of traffic and they are making a good deal of money by being "real estate advisors "(which is what they describe themselves as).You on the other hand have spent a great deal of time wastefully, calling and calling with no results and not knowing their game. That didn't help you your goal.

Up your game and get smarter than the next guy, who knows exactly why they are "listing" them.


Its good you spent 4 minutes with them.. I started 2 years ago with them and after about 4 listings and realizing they dont sell anything i just kept "bothering" them every time I saw they had a place listed...none were available. My last contact with them was in January and I sent them about 6 properties that were all scams.

On the other hand, anyone looking to buy a place and sees what could be an opportunity will be calling and calling until they realize somethings wrong..thats what happened to me. I think anywhere you go thats a part of the rat race....If you think thats a waste of time, then you are much better off than I and you can pick and choose properties to buy at a whim.

Anyway, seems like you took my Lucky's post a bit personal...I dont know how you would know if they make a great deal of money as "real estate advisors" since thats just a vague label (which means realtor) and they are BUCONAS (dont know if its spelled right) Did you pay for something?! Or are you a relative?

I think they are listing them as all the Buconas on all these bienes raices websites... bait and switch... and then get a finders fee if successful.

Anyway they also rent places... maybe thats their day job.
 

yeptruthhurts

New member
Feb 10, 2021
25
12
3
33165
You absolutely need a good attorney. Needs to check for HOA fees due and unpaid, He should do a title search, too - in case there is a lien against the title/property.

The cost of a good attorney is 1% of the transaction price.

In the DR, all real estate agents and "brokers" are ALL UNLICENSED. It's the Wild West, brother!
Wild West is the way to describe it!
 

yeptruthhurts

New member
Feb 10, 2021
25
12
3
33165
Buying an older apartment via Remax and Banco Popular loan. Would like some tips, here's what happened so far:

Apartment building 20 apartments near Jardin Botanico. Nice little apartment. The owner has people renting it.
Saw the apartment and met the renters (cubans) who seem decent and told/showed us everything wrong, good, etc about the place. They have 7 years renting and will be moving out in 6 months. A signed and stamped letter from the company who manages the building says the apartment is uptodate with maintenance.

Copies of the title, ipi and another document were sent to me and seem to be inorder (i guess the bank will determine that?).

Any tips on what im missing to do or research with respect to the bank or remax or the apartment?

Do i need a lawyer... I am hoping not, since its remax and banco popular (where i am paying legal fees for the deal) I should be secure with respect to papers etc?!

Remax guy mentioned he can do a contract for less value so I pay a lesser amount of something..
The IPI has the value of the apartment less than have of what i am buy it for.

I have to get a banco popular assessment of value of the apartment.

Well thanks ahead of time.
#1 as everyone said, get a lawyer
#2 dont buy a place with renters inside.
then repeat number 1 and 2 over and over

I added #2 because I have heard horror stories about people who buy a place and the sellers or renters that are there dont move out! Lawyers here told me that it is a costly and long process to get someone out of "their home"... best to avoid it.
 

yeptruthhurts

New member
Feb 10, 2021
25
12
3
33165
I am not going to explain it to you.
Sit on the sidelines.
This game ain't for you bro‼️
Starters don't complain about the calls from the referee.
They go hard in the paint until they win.

Welcome to the 🇩🇴
Where you play by their rules or go home.
Comprende ahora❓
While I do like your poetry(?), please be coherent, especially trying to avoid contradicting yourself.
 

johne

Silver
Jun 28, 2003
4,561
1,150
113
Its good you spent 4 minutes with them.. I started 2 years ago with them and after about 4 listings and realizing they dont sell anything i just kept "bothering" them every time I saw they had a place listed...none were available. My last contact with them was in January and I sent them about 6 properties that were all scams.

On the other hand, anyone looking to buy a place and sees what could be an opportunity will be calling and calling until they realize somethings wrong..thats what happened to me. I think anywhere you go thats a part of the rat race....If you think thats a waste of time, then you are much better off than I and you can pick and choose properties to buy at a whim.

Anyway, seems like you took my Lucky's post a bit personal...I dont know how you would know if they make a great deal of money as "real estate advisors" since thats just a vague label (which means realtor) and they are BUCONAS (dont know if its spelled right) Did you pay for something?! Or are you a relative?

I think they are listing them as all the Buconas on all these bienes raices websites... bait and switch... and then get a finders fee if successful.

Anyway they also rent places... maybe thats their day job.
I have noooo idea what you are talking about (buconas).You read my post completely wrong. Have a good evening and in your spare time I suggest you catch up on reading about affiliate revenue sharing.
 

Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
1,148
430
83
-
While I do like your poetry(?), please be coherent, especially trying to avoid contradicting yourself.
Now, sometimes I don red o spel 2 gud.

But I have not contradicted myself.
I have explained my experiences.
You do not like my explanation.
So instead you wish to invalidate my experiences.

I am sorry you cannot find a realtor here in 🇩🇴 that will hold your hand and lead to you the property you can buy and live in happily ever after.
I have given you the formula I used for success.

"Great things may come to those who wait, but only the things left by those who hustle" - Who said it❓

Yep the truth hurts‼️
 

johne

Silver
Jun 28, 2003
4,561
1,150
113
Its good you spent 4 minutes with them.. I started 2 years ago with them and after about 4 listings and realizing they dont sell anything i just kept "bothering" them every time I saw they had a place listed...none were available. My last contact with them was in January and I sent them about 6 properties that were all scams.

On the other hand, anyone looking to buy a place and sees what could be an opportunity will be calling and calling until they realize somethings wrong..thats what happened to me. I think anywhere you go thats a part of the rat race....If you think thats a waste of time, then you are much better off than I and you can pick and choose properties to buy at a whim.

Anyway, seems like you took my Lucky's post a bit personal...I dont know how you would know if they make a great deal of money as "real estate advisors" since thats just a vague label (which means realtor) and they are BUCONAS (dont know if its spelled right) Did you pay for something?! Or are you a relative?

I think they are listing them as all the Buconas on all these bienes raices websites... bait and switch... and then get a finders fee if successful.

Anyway they also rent places... maybe thats their day job.
For the life of me I don't know what you are trying to accomplish! More than two years callling a company that doesn't respond to you and you continue to "bother them". For what?? Then you come to the forum board and accuse them as shoddy, scammers, etc. And accuse me of, who knows what?
Get a life, grow up, and find a purpose.