Dumb Sheltered American questions after research

[suarezn]

suarezn, I think your two cents has declined along with the dollar.

tdotson has indicated the North Coast is one of the areas she is interested in. Prices have gone uip considerably in the past year, as Escott has indicated in his post. If a seller acts insulted to a low-ball offer in the Sosua/Cabarete area, it is because he is insulted.

Well, I'm not sure how fast houses are selling in the north coast...but my experience is that houses are usually on the market for a very long time down there and I stand by my comment that Dominicans will overprice it because they expect that you're going to come with a low-ball offer and that you're going to negotiate. It's just part of the culture...you see it not just in real state but in almost everything you purchase (i.e. beach vendor wants to sell you a painting for 1000 pesos you offer them 500...final price should be around 650).

The trick is to walk away, but leave them your contact information...and be patient. it may take a few months, but they will come back to you and at a minimum split the difference.

If the prices in this area are going up tremendously is because of foreigners going in with a mentality that it's is wrong to make a very low offer and they just don't know how to negotiate in The DR...so they get taken almost every time.

Every piece of property I've bought down there I've paid 75% or less than the asking price. It took me a few months for a couple of them to come through as the sellers were like "That's my final price...I won't sell it for a penny less...", so I told them "Hey...that's my final offer...call me when you want to do business..." I just walked away. Guess what...a couple of months passed by and they both called me asking me to split the difference. You just have to play the game, otherwise you'll get played...

 

[ColoradoGirl]

May God Have Mercy On Your Soul!!!"

You sound like a very sweet,kind,gentle,caring,loving,trusting person.
Just the kind of person that a Dominican would love to eat for breakfast,lunch,AND dinner! :bandit: :bandit: :bandit:
(Before EVERYONE starts,I will post my "Disclaimer" now.There are people all over the World who will take advantage of "The Innocent,and Unexperienced.We just happen to talking about the Dominican Republic,on a website devoted to same!! So."STFU"!..BEFORE,you start!)

There are some really great people on DR1.Sometimes an e-mail or a "PM" is a better way to communicate with them than on the open forum.What you are getting are "OPINIONS" from a lot of different folks.And you know what they say about opinions!
Here are my opinions,after living and working,and"trying" to raise a family here for over 10 years.
1.SLOWLY!...AND I mean R_E_A_L_L_Y SLOWLY!
2.BE really careful with money transactions.
3"Titles" for property and businesses are always "suspect"!
4.An honest experienced lawyer is always needed BEFORE,During,and After any transaction!!
5.Trust is GOOD,so trust in GOD! And in yourself! If "something" just doesn't seem right.Don't do it! Trust your intuition.People here can charm your pants off! (See The "SANKIE FORUM!") You will want to trust and please them,but BE Careful!!

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Not sure I understand? Are you letting me know I am stupid and nieve because I think its cheaper to build rather than buy? Please explain. If I am wrong it would be great to get advise from someone who knows it all.

 

[Lambada]

I take your point about foreigners getting 'taken' suarez, but a lot of what happens in the more foreign dominated parts of the north coast is as Ken says. This is because also many of the sellers, developers, agents etc are also foreigners.......it is almost a completely separate culture from what you are used to, in terms of how the RE game is played. I notice this because in Puerto Plata where I live, there is both, but with more emphasis on the Dominican way of negotiating house purchase & vending. But in Sosua & Cabarete it is different.