I have made an offer for an apartment in Caribe Campo through Juan Perdomo and agent Dean Brown, and have every confidence that they are highly reputable. Dean tells me that it is customary that Guido Perdomo handle the transaction for both parties. Is that normal in the DR? I have no problem with it if I will be represented strongly represented in the event of a dispute, but I'm not sure I feel completely comfortable. I'd appreciate opinions and experiences. - Thanks, Danny
- Thread starter Danny W
- Start date
Real Estate Transaction
It is only my personal opinion from years of selling real estate ( in Canada) that it's never a good idea for both parties to use the same lawyer in any transation. A lawyer is working for his client and in case of a dispute, which client is he working for? It might be cheaper that way but is it worth taking the chance?
It IS a regular practice in the DR, Dean is right, however, I am with Anna on this one - who (in the event of a dispute no matter HOW small or great) is the lawyer going to represent most?
The ONLY time I would consider a joint lawyer is when all the agreements have been put in place directly by buyer/seller BEFORE the lawyer is involved. That way the lawyer is working to OUR instructions. I am doing this right now with the house that I am selling - I have known the buyer for 8 years & trust him implicitly, & HE, I! ~ Grahame.
The ONLY time I would consider a joint lawyer is when all the agreements have been put in place directly by buyer/seller BEFORE the lawyer is involved. That way the lawyer is working to OUR instructions. I am doing this right now with the house that I am selling - I have known the buyer for 8 years & trust him implicitly, & HE, I! ~ Grahame.
I have used Guido to handle both sides of a deal more than once without any problems. You don't want to use Guido to go to court since he is NOT confrontational but I trust him and his prices are REASONABLE!
Good luck,
Scott
Good luck,
Scott
In Latin countries and much of Europe, real estate purchases are executed by "Notaries,? a function that is very much different from American notaries.
A notary is supposed to be a law school graduate, specially appointed to prepare and execute, within a certain jurisdiction, deeds of sale, mortgages, and other instruments affecting real property interests, as well as deeds of gift, wills and marriage contracts. His function is to verify and keep on file all instruments relating to the transactions done by him. His position is supposed to be one of impartiality between buyer and seller.
Unfortunately, Dominican notaries are neither well-trained nor regularly supervised. If you feel uncomfortable, get your own lawyer or notary to review the transaction.
A notary is supposed to be a law school graduate, specially appointed to prepare and execute, within a certain jurisdiction, deeds of sale, mortgages, and other instruments affecting real property interests, as well as deeds of gift, wills and marriage contracts. His function is to verify and keep on file all instruments relating to the transactions done by him. His position is supposed to be one of impartiality between buyer and seller.
Unfortunately, Dominican notaries are neither well-trained nor regularly supervised. If you feel uncomfortable, get your own lawyer or notary to review the transaction.