cant wait to come there 25.01.2003

dusan30

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Dec 23, 2002
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hello to anyone!

I come from small country of Slovenia. I will be staying in AI resort in Cabarete TROPICAL GOLETA BEACH hotel from 25.01.2003., but the most of my time staying there i will be moving around the country. I want to know all about it, and the people living there. I have a plan to purcase a small lot of land. I dont have much money but i will be pleased with what i get. Maybe some day id like to come back and stay there forever. I know my english is bad but i speak better than write. Does anyone know where i should look fos real estate in this area. Im coming there alone so i would be very happy if there is someone to talk to or give me some advice. My spanish is bad but i love it.

Thank you!
 

MaineGirl

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Jun 23, 2002
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You seem very enthusiastic. The Dominican Republic is a beautful country with great weather and a wonderful culture.

Do a thorough archive search. A lot of experts have contributed answers to your very questions.

Remember, there is no such thing as paradise.

MaineGirl (not any expert by any means, but warding off malevolent posts to come :))
 

Ken

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Jan 1, 2002
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dusan30, for real estate I can highly recommend Dean Brown, a Century21 representative for the North Coast. He lives just ouside Cabarete. He can talk with you about life in the area and real estate in Cabarete and Sosua. His email address is islandcruisers@hotmail.com

I'll let him know you are looking for information and ask him to contact you by email or PM.
 

dusan30

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Dec 23, 2002
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Thank you very much Mainegirl and Ken for information! Im very happy there is someone to talk to about DR.
I know there is no such thing like paradise, but i think everyone have his one paradise in his mind, and if you are pleased vith small things you are real close to real paradise.

p.s. I also love to fish..its my obsession..do i need a ticket to
fish from shore vith standard rod equipment.


Thanks again!
 

MaineGirl

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Jun 23, 2002
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dusan30, I agree. To be content with what you have, and to take pleasure in the small things, will greatly enhance your life on this earth.

MaineGirl, married three years today!
 

dusan30

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Dec 23, 2002
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Congratulations to you MaineGirl !! Any children?
I hope you are celebrating....
I forgot to ask you where do you live? in DR?..yes and merry christmas to you!

MERRY CHRISTMAS TO YOU ALL!!!!!!!!!!!!!!
 

JOHNNY HONDA

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Sep 25, 2002
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You do not need any licence to fish on this Island(dont tell the government or thats the next way for them to fill their pockets)Be careful with your money you will meet people here who will sell you anything use only reputed real estate dealers.Good luck
Johnny:cool:
 

Criss Colon

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Jan 2, 2002
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Someone once posted on this board.....

.....that when two men meet,one with experience,and one with money,the one with experience usually leaves with the money,and the one with the money usually leaves with the expeience!!! He was talking about the Dominican Republic I'm sure!!CRIS Colon
 

dusan30

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Dec 23, 2002
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Does anyone know the cost for lawyers if you hire one for purcashing real estate?


thanks
 

Ken

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Jan 1, 2002
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dusan30, really depends on what is involved. There are a lot of questions you need to answer when you talk with a lawyer. For example, whether or not to purchase the property as an individual or to form a company that will purchase it. In that case you would own a company that owned the property. The majority of foreigners that buy land do this as it gives certain protection and keeps the government from taking a cut in the event you die. But this and other questions will need to be considered.

BTW, forming a company also has some immediate tax benefits, compared to buy as an individual, which helps to pay for forming the company.
 

dusan30

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Dec 23, 2002
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thanks KEN

Do you think Dean Brown has the information which lawyer in the area should i turn to to be most reliable?
 

Ken

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Yes, he can help you. I wouldn't have recommended him to you unless I was certain that he was knowledgeable and honest.

I live in Sosua; if I can be of any help while you are here, give me a call. I will send you a message with my phone number.
 

JanH

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Dec 26, 2002
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I have gotten 2 names for attorneys that deal with real estate closings. Anyone know anything about them? They are both in the north coast area: Guido Perdomo, he works in Century 21 Office. and Guzm?n Ariza & Asociados - Puerta Plata.

We have about 10 houses picked out, based on pictures on the internet. The 2 realtors are Palm Hills and American Realty. Anyone have dealings with them?
 

Ken

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JanH, both attornies are reputable. You would be safe with either one.

Fabio Guzman, who also answers the questions posted in the Legal section of this board, is a friend and my attorney for our occasional need. His website is www.drlawyer.com

I have not had personal contact with Mr. Perdomo, but people that I know and trust have and they have been well satisfied with him.

You are wise to inquire because just having an attorney to assist you isn't enough. You must have a competent and honest one. There are many horror stories regarding people who found too late that they were not well served by their attorney.

You mentioned real estate closings, but there is more to it than that when you purchase in the DR. One of the first things you should talk to your attorney about is the pluses and minuses of purchasing as an individual and of forming a company that purchases the land. Most foreigners do the latter. Among the benefits are not having the government take a healthy cut in the event the owner dies. When the property is owned by the company, when the president of the company dies, someone else becomes president and "business" continues as usual. Also, a title search by a competent, honest attorney is also absolutely essential. Just having a seller show you a title means nothing.

You are also wise to be investigating realtors. During the years that I have lived in the DR, it has never ceased to amaze me how many people have come to the DR to get rich. Fortunately, it is the very, very rare property that is only available to one realtor. I have never heard of a realtor on the North Coast that had an exclusive on any property.
 
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JanH

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Dec 26, 2002
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Ken - I know i am deviating from original thread's subject, but after your wonderful, lengthy response, wanted to keep it all together for me to print out.

I have had very good responses from Dr. Christoph Sieger of Guzman Associates. I am aware of incorporating for purchase of home and will do so.

I am concerned your saying realtors don't have exclusive rights to sell of property. Palm Hills just responded to me this week that the houses they have listed for Casa Linda are exclusive to them (I mentioned to them that American Realty had a house in there too for sale).

I figured it would be a pain contacting all these realtors instead of just having one for "multiple listings" like in US.

Also, wanted to tell you we will be renting one of the houses that are for sale in February so we can get a feel for the neighborhood and house during our 2-week stay.

I emailed you separate from this forum inquiring about Casa Linda, but if you want to respond in this thread, go ahead, so others can see.
 

Ken

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JanH, don't worry about deviating since in this case your interests are the same as those of the original poster and your questions will also provide additional information for him.

Re "exclusive", I would be very surprised, but anything is possible. But it must be kept in mind that for the past couple of years it has very much been a buyers market on the North Coast. If you have been reading the board for awhile, you will have seen other threads talking about the down market for real estate that always accompanies the decline in tourism. These have been bad years, and even now you would be well advised to do so hard bargaining before coming to an agreement. Because it has been so slow, a serious seller would have been very foolish to give one realator an exclusive on his property. The best chance of selling is to have as many realators as possible beating the bushes for someone to buy your property. Someone might have an arrangement so that office gets a share of the commission no matter who sells, but I would be very surprised if any realator had an exclusive.

It would be very interesting to know if a realtor who claims to have exclusive rights to a group of properties really did. That would be one check on the credibility of that realtor.

Renting before buying is an excellent idea, something that I and other regular posters recommend. You need time to see what life is really like when lived in the DR, you need time to get fully acquainted with the general area, and you need time to see what is available. 2 weeks is not a great deal of time.

Picking and choosing from properties shown on the internet gives you some idea of what might be available, but you would be well advised not to limit your consideration to those properties. A realator that tries to push you into one of a few properties he has a special interest in is not giving his client the service he is entitled to. Remember all the time when you are looking that this is a buyers market. There is not a line of people waiting to buy a property that you are considering. Sellers will be more optimistic now than they have been for months, since the high season for tourism is starting, which means the arrival of more potential buyers, but I still believe that you have the advantage.
 

JanH

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Dec 26, 2002
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Thanks, Ken. Sounds like my husband and I should look you up the first couple of days we're there. If we find a house, may even call you to see what you think!

I also printed out your long response about where to buy furniture and upholstery.

other than riding with the realtor to look at houses, what do you suggest we do for transporation, such as just going to grocery store? or to a restaurant nearby? should we call a taxi every time or pay big bucks for a rental car?