Are you looking to buy a property in Punta Cana, Dominican Republic?
The Dominican Republic has many business opportunities, whether you are looking for rental investment, equity, or second home property. It is essential to identify what you want since this will be critical for the location and the type of furniture that goes better with your investment. If your main goal is the rental market, you have to ask your real estate agent to show you the locations and types of properties that travelers prefer. Still, if you are looking for something for yourself, you have to tell your agent what your dream property needs and the budget available for your dream property.
When you have found your dream property, it will be crucial to hire a trusted and independent Real Estate lawyer immediately, to do all the research before you pay a good amount of money; your lawyer must be located in the same area where you are buying the property, which will help him to understand better the common problems or situation that he must pay attention to. When your lawyer is from the property's exact location, it usually contributes to a safe and fast closing.
Recommendations:
First recommendation
Do not buy a property without legal representation, even pre-construction.Second recommendation
Do not sign an offer to purchase, letter of intent, or reservation form without your lawyer reviewing it.Third recommendation
Make sure that your offer to purchase, letter of intent, or reservation form includes all the necessary contingencies such as; repairs, furniture, appliances, and closing date, among other specific conditions you may have.Fourth recommendation
Ensure you get a due diligence report before committing to a payment plan or final payment.Fifth recommendation
When buying preconstruction is highly recommended to condition the payment plan to the construction progress.Sixth recommendation
Make sure you do contract revision with your attorney before signing the purchase contract.Seventh recommendation
Make sure you do a walkthrough before making the final payment.
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