Real Estate

Can US citizens get a mortgage in Dominican Republic?

The Dominican Republic offers a unique opportunity for foreigners, whether residents or not, to qualify for mortgages to buy a property. The process is more quicker for residents with established ties and credit history. Favorable financing terms are available for residents, with some banks offering up to 80% loan-to-value or 90% loan-to-value for new builds. Non-residents usually receive financing...

Inheritance of Property in Punta Cana – Dominican Republic

The legal age to create a will in the Dominican Republic is 18 years old. Although you can seek the assistance of an attorney to draft a will, it is not a requirement. In the Dominican Republic, it is a common tradition for families to have a "generation will" that is passed down from generation to generation, usually given to the heirs in the family. This is not a mandatory process, but it is a...

Financing & Mortgages for Punta Cana Properties

When considering financing options for purchasing property in Punta Cana, Dominican Republic, there are a few options to consider. Each option has its own set of advantages and disadvantages, and it's important to carefully consider which one is best for your individual circumstances. One option is to refinance or place a home equity line of credit on an existing property in your home country to...

How to transfer a Property in the Dominican Republic

To transfer the title of a real estate property in the Dominican Republic to your name, the following process must be carried out after purchase: Please note: It is highly recommended  to have an experienced real estate lawyer to handle the transfer process.  To start this process, your attorney needs to deposit the following documents at the  General Directorate of...

Fees and Taxes when buying Property in Punta Cana

When purchasing property in Punta Cana, Dominican Republic, it is important to be aware of the taxes and expenses associated with the transfer of ownership. These taxes and expenses are typically around 3.1% of the government-appraised value of the property and include: 3% Transfer Tax (as per Law 288-04)Additional minor expenses such as the cost of a certified check, stamps and other administrative...

How to purchase a property in Punta Cana

If you're thinking of buying real estate in the Dominican Republic, there are several steps involved to ensure a successful and smooth transaction. In this guide, we'll take you through the process in detail. Step 1: Property SelectionThe first step is to explore the area and view available properties, whether it be a new or resale condo or villa. You might meet with other owners and get a sense of...

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