It is also possible to find good opportunities without resorting to any real estate agent. Many people interested in selling their homes advertise them on buying and selling websites. By dealing directly with the owner, you will save yourself from paying agency commissions. And the final price of the Beachfront property in Sosua may be a little cheaper.
Super Casas: in this portal you will find advertisements from individuals and agencies. It also has a section with contact information for independent real estate agents.
I am looking for a Casita: the offer of properties listed on this website is very wide, because it is free to publish ads. It focuses on private sales, but also includes an area for professionals
Real estate: this website has been active for more than 20 years. It is a meeting point for buyers and sellers from several Latin American countries, including the Dominican Republic.
Corotos: is a classified ads website. It has a wide real estate section where you will find homes for sale throughout the country
Who can buy a house in the Dominican Republic?
The Dominican Republic does not put obstacles to foreigners who want to buy properties. In the past, there was a law that required the foreigner to obtain a permit before making the purchase. But this was repealed in 1998.
Currently you can access the real estate market under the same conditions as any Dominican citizen. And if the price of the property is greater than or equal to 200,000 US dollars, you can get an investor visa to reside in the country.
Steps to be able to buy the house in the Dominican Republic
To formalize the purchase of your house in the Dominican Republic, it is recommended that you hire a lawyer specialized in real estate. It is the best way to ensure that the entire process is carried out in accordance with the law.
Check that the property is free of charges and is owned by the seller
Sign a call option contract and pay a deposit. It indicates that the owner agrees to sell the house to the buyer. All the details of the purchase-sale operation are also specified.
Sign the final sales contract on the agreed date
Make your house payment with an online service like WISE
Pay transfer and registration taxes. To do this, you must deposit the contract in an office of the Local Administration of the General Directorate of Internal Taxes. And in a few days they will tell you the exact amount
Make the registration of the property in the Registry of Titles
What are the administrative costs for the purchase?
When buying a house in the Dominican Republic, it is you who must pay all administrative costs. In the event that the purchase is made through an agency, the usual thing is that it is the seller who is in charge of paying his fees.
As a guide, you will have to pay between 4.55% and 5.30% of the purchase value. The expenses that you will have to face are:
- Transfer fee: 3%
- Notary fees: 0.25% to 1%
- Taxes: 1.30%
As you have just seen, buying a house in the Dominican Republic is totally feasible for any Spaniard. The process is not much more complex than acquiring a property in Spain.
Remember that it is advisable to hire a lawyer specializing in the real estate market to advise you. And if you pay using Wise you can save a lot of money on currency exchange and transfer fees.
