Penniless guarantees
Do not buy at this time. You need to spend more time in the country to get a real feel of its culture and behavior before you invest. There are too many traps for the uninformed, especially foreigners. There are more opportunities renting or leasing with a positive side of less stress for you. You come and go as you please without having to worry about the additional baggage of managing a property.
The Dominican government has taken in a great deal of wealth from foreign investors. Unfortunately, it has not enacted any special legislation or provided a reserved agency to protect the small foreign investors from the dealings of unscrupulous sellers, agents, developers, contractors, lawyers, banks, and government officials/agencies. You will receive a wealth of promises from sellers, services, and agencies that have penniless guarantees.
The DR has not realized that the concept and use of ethical business practices will bring to it more confidence in foreign investment.
Buyer beware.
Regards,
PJT