Buying/Selling a Condo

[belmont]

Most times the property should be held for over 5 years - but long term the prospects can be great. Yes, a developer with a track record is good.

pi2

I owned a racehorse with a track record. Never finished better than sixth in its eight starts. Having a track record is not always good. In this case it was worth a ride to the dogfood factory.

 

[pi2]

Arkle or Red Rum also?

pi2

 

[dcp6904]

Purchasing preconstruction in the DR has to be one of the riskiest transactions one could imagine. In anyother real estate transaction one would require delivery of clear title and an inspection before releasing any funds from escrow. Yet in a preconstruction transaction, for a hypothetical discount, people are wiling to front the builder up to 75% of the price based solely on his word that he will deliver the project. Better to put that money on a color in roulette. You have better odds of winning.

I am currently looking to buy.... Can anyone name a couple of these develpements in Sousa area that has gone bust but still has hope. I would like to gamble at 50% of the amount that the 1st buyer paid. Thanks. Dave from Wisconsin.

 

[fdttwin]

What is the real estate commission rate in DR and is there a property transfer tax? What other costs, if any, must a seller pay at closing?