Our clients find purchasing a villa in the DR to be very similar to buying in North America or Europe. For an extensive overview of the buying process, please visit the website of Guzman Ariza law firm.
Steps to buying:
- Once you have chosen a lot and a villa plan to build, an offer to purchase is written. This offer outlines the type of villa and its price, shows elevations and renderings, the plot plan, and also goes into detail regarding the bylaws of the subdivision. Generally this offer is made while our clients are in the DR; however, it can also be done via email and fax.
- The next step is send the contract to our real estate solicitor and to yours. Many of our clients also choose to use our law firm, Guzman Ariza - they are excellent and used to working with foreign buyers.
- Your lawyer will prepare a second contract in Spanish, "The Contract of Sale".
- The first payment is wired to your solicitor's trust account, then transferred to Casa Linda so construction can begin. For more information on construction draw schedules, please visit our payment terms page.
- Additional construction draws are wired over the course of construction.
- Your villa will be completed in 6-12 months, depending on the plan chosen, upgrades, etc.
- Once the final payment has been received, you get the keys! A holdback is held in your solicitor's trust account pending the finishing of any deficiencies and final title transferred to your name.
Should you buy in a company name or personally?
This is a question that is best asked of your solicitor and is very dependent on personal circumstances. There are pros and cons of purchasing each way. Both are certainly possible at Casa Linda.
