Buying property in DR

NelleG

Member
Jan 2, 2018
38
1
18
Hello,
I’m new to posting on the forum although I’ve been following for a few months now. I’m looking to buy an apartment soon and looking for advice. Not on buying, but on wire transfers. Does anyone use a service they would recommend? My online bank doesn’t have very good reviews so I thoughtI’d ask around. Also the info I have for the seller doesn’t seem to be the info TrnasferWise is asking for. Thoughts? TIA.
NelleG
 

william webster

Platinum
Jan 16, 2009
23,797
669
113
for big amounts - like buying the apartment - send it to the lawyer

For day to day banking....you'll get plenty of advice here
 

Joe Boots

Member
Jun 16, 2008
332
2
18
When I brought my property I did it with a bank check. See if the bank check is addressed to a person or company. It is ok to transport thru the airport. If it is a blank bank check or cash then the rules apply about transporting. There is another idea give them a personal check and have them wait till it clears. They might accept that but I doubt it. You could try a company like Western Union to transfer money into an account.
 

william webster

Platinum
Jan 16, 2009
23,797
669
113
You must declare any instrument (cash or equivalent) above $10,000 on entry

It's legal but must be declared... and that raises security questions for many people .

Just wire it...to the lawyer
 

melphis

Living my Dream
Apr 18, 2013
2,218
251
83
I would open a USD account at a Dominican bank and wire the money there. You will need a copy of a purchase agreement, your passport and a bunch of other stuff but you get to control the money till you take possession.
I would not use a lawyer here unless you go with one that has been around a long time and you have met them.
And never ever think of wiring it to a realtor here.
 

DR Solar

Bronze
Nov 21, 2016
1,144
127
63
A GOOD lawyer such as Guzman Ariza that will work with the real estate agent/seller and have own accts. in the U.S. and in the Dominican Republic that can handle the transfer of funds without you having to open all sorts of back accts.

Done it several times and even have US $ parked in there accts.

Look at … GOOD and then add trusted.
 

Dr_Taylor

New member
Oct 18, 2017
351
2
0
A GOOD lawyer such as Guzman Ariza that will work with the real estate agent/seller and have own accts. in the U.S. and in the Dominican Republic that can handle the transfer of funds without you having to open all sorts of back accts.

Done it several times and even have US $ parked in there accts.

Look at … GOOD and then add trusted.
Also, this firm's lawyers speak English and will walk you through and explain all necessary steps.
 

RDKNIGHT

Bronze
Mar 13, 2017
970
54
48
I would not buy a dog house now.... I live in a very nice complex out east 80% most of the folks cant pay their rents ... from what i have been hearing if you were paying 1500 going rate now is 750 .... most of the folks are not paying anything where they currently live... not a good time to have rentals
 

El Calvito

New member
May 9, 2020
22
8
3
Singapour
Hello,
I’m new to posting on the forum although I’ve been following for a few months now. I’m looking to buy an apartment soon and looking for advice. Not on buying, but on wire transfers. Does anyone use a service they would recommend? My online bank doesn’t have very good reviews so I thoughtI’d ask around. Also the info I have for the seller doesn’t seem to be the info TrnasferWise is asking for. Thoughts? TIA.
NelleG
My suggestion is to do business with reputable lawyer firm. Guzzman Ariza is highly rated, see this link https://drlawyer.com/
 

GusFring

Active member
Apr 15, 2020
317
127
43
Nice thread hijack. Your post has nothing to do with buying property in the DR or how to wire funds for a purchase. You have posted it without any context and is meaningless to this thread.

This content was completely covered in another thread and thoroughly explained there. It is a completely different topic.

What is your malfunction, sir?
 

drstock

Silver
Oct 29, 2010
2,578
192
63
Cabarete
Nice thread hijack. Your post has nothing to do with buying property in the DR or how to wire funds for a purchase. You have posted it without any context and is meaningless to this thread.

This content was completely covered in another thread and thoroughly explained there. It is a completely different topic.

What is your malfunction, sir?
Perhaps a tad aggressive as the two subjects are definitely connected. For those of us who are interested in the answer to Fulano2's question, perhaps you would be kind enough to direct us to the other thread that you mention. Thanks.
 

johne

Silver
Jun 28, 2003
3,466
303
83
Perhaps a tad aggressive as the two subjects are definitely connected. For those of us who are interested in the answer to Fulano2's question, perhaps you would be kind enough to direct us to the other thread that you mention. Thanks.
Absolutely, connected ,and vital information. Fulano is looking for a definition on who/what is a "taxpayer". I would assume here in the DR that might have multiple meanings: real estate tax only, personal name, LLC, partnership, corporation , joint, spouse only is owner, etc. Good question.