Homes
Dominican homes are becoming a very popular investment for retirees and vacation home owners. Dominican real estate is appealing in terms of price and the natural beauty of the island! If you are in search of a tropical island getaway retreat don’t overlook the Caribbean beauties found in new Dominican real estate communities.
Owning A Dominican Home…
- Residency is not a requirement to buy and own a Dominican home!
- The right to own private property is guaranteed and recognized by the government
- No restrictions on foreigners inheriting real estate and obtaining the property title in Sosua!
- You can either put the Dominican home in your personal name or form a Dominican company!
- Payment for Dominican real estate is generally made by wire transfer to a notary account (your attorney). When the title is verified and the contract is signed by both parties the seller receives payment.
- Closing costs are about 6% of the purchase price. There is a one-time transfer tax of approximately 5% of the purchase price and the lawyer’s fees are an additional 1-2% of the purchase price.
- Dominican property ownership information is maintained regionally in the recorder’s office, title registrar’s office or land court.
