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Buying a property in the Dominican Republic

When buying a home or any other real estate property in the Dominican Republic, there is a lot to consider. Most buyers use a real estate agent for that reason. A real estate agent is an intermediary and advisor with expertise in the real estate market. It’s not mandatory to have one but it sure can save you a lot of time, money, and disappointments.

What does a real estate agent do?

Real estate agents are experts in the housing market and specialize in the field of legislation, negotiations, and financial matters. A real estate agent helps you with the search for a property, they go to viewings and negotiate with the selling party about the sale price and other conditions. With this help you’ll be able to make the right and appropriate deal for yourself. The RE/MAX broker looks objectively and expertly at the strengths and weaknesses of a home. This way you do not make unnecessary purchase mistakes and you can look back on your properties with satisfaction.

Why should you hire a Real Estate agent?

A real estate agent is involved in buying and selling homes in your intended neighborhood daily. He or she can translate your housing wishes in detail into a suitable home in the desired area. The broker advises you on the right fit for your price range and determines the most suitable purchase strategy along with you.

In practice, real estate agents are often the first to know about new housing properties. If a homeowner puts his home for sale, it takes a few days before the property is online. The current housing market is very competitive, most properties have already been sold by the sales agent through his network before the house is offered online. RE/MAX has a large national and international network that you can benefit from. By choosing us as a buying agent you are closer to the market, with the latest information on new housing offers and therefore having more time to make the right choices for purchasing your dream home in the Dominican Republic.

A RE/MAX buying agent can connect you to the property viewing. The agent has an objective view and knows what the most important details are when buying a home. They do so by asking critical questions about the condition of the structure, insulation, and any other renovations. After the viewing you will receive well-founded advice about the condition of the house.

Is the property on the market for the right price or would it be better to first have a structural inspection carried out in case there are hidden defects? We oversee the legal state of the property, are there no special requirements or other aspects that could be detrimental to your future enjoyment of the house? We also take into consideration whether the zoning area fits in with the intended use.

If you decide to make an offer on a property, your real estate agent will advise you on a competitive purchase offer and is ready to enter the negotiation phase with the selling party. After all, you want to pay a fair price for the property. Your RE/MAX broker takes the conditions into account during the negotiation process and makes the whole purchase deal as interesting as possible for you.

When purchasing a home in the Dominican Republic, financial and legal aspects must be discussed. The purchasing agent can support you in finding a suitable appraiser, notary, and financial advisor. The broker also supports you with:

  • Checking the provisional sales & purchase agreement (draft deed of sale)
  • Preparation of the transfer (documents for the notary)
  • Inspecting the property before transport (inspection)
  • Key collection

How much does a buying agent cost?

You can discuss the price for the services of the broker in advance. Various routes are possible for this. In most cases, this is a commission of about 1% to 2% depending on the desired service. It is often possible to agree on a fixed rate in consultation. The costs of a real estate agent cannot be co-financed in the mortgage. However, by hiring a RE/MAX broker, you can save a lot of money and be sure that the purchase of your dream home will be successful, and that you will not have reservations afterwards.

If you don't want to make unnecessary purchase mistakes and want to make the best deal when purchasing any property in the Dominican Republic.

Feel free to contact us and let us guide you to your dream home!