Buying Process
Unlock Your Dream Property in the Dominican Republic with Coldwell Banker
Navigating the process of purchasing property in the Dominican Republic may seem daunting, but with Coldwell Banker by your side, it becomes remarkably straightforward. We’re committed to simplifying your purchase experience and guiding you through each step of the journey with expertise and efficiency.
Here's a breakdown of the seamless purchasing procedure:
Preliminary Sale/Purchase Agreement
Once you’ve identified the property of your dreams, we’ll assist you in signing a preliminary agreement with the owner. This agreement outlines the basic terms and conditions of the sale/purchase and requires a 10% deposit, securely held in a lawyer’s account until closing. With this agreement in place, the seller is committed to selling the property to you.
Documentation Process
Our experienced Lawyer/Notary will guide you through the necessary documentation process, which typically includes:
– Full names and particulars of all parties involved, including spouses if applicable.
– Two copies of identification for each person.
– Legal description of the property.
– Purchase price and payment terms.
– Default clause, date of property delivery, and any due diligence conducted.
– Seller’s obligation to sign the Deed of Sale upon receipt of final payment.
Notary Appointment
The notary process, spanning 6 to 8 weeks, concludes with an appointment to sign the Deed of Sale and make final payments. Our team will coordinate this appointment, ensuring a seamless transition of ownership.
Closing Costs
As a buyer, it’s essential to budget for closing costs, which typically include:
– Transfer tax and stamp duty based on the property’s market value.
– Notary fees and title transfer expenses.
– Property taxes, calculated annually based on government-appraised value.
Our commitment to transparency and client satisfaction extends beyond the transaction. Whether you’re a seasoned investor or a first-time buyer, Coldwell Banker is here to provide free advice and support every step of the way.
Don’t let uncertainty hinder your property ownership aspirations. Contact Coldwell Banker today to embark on a seamless journey towards owning your slice of paradise in the Dominican Republic. Let us turn your dream into reality.
