Since the Dominican Republic has recently been gaining popularity among real estate investors and ex-pats, many Americans and Canadians are considering buying a house there. Generally, buying a house in the Dominican Republic is quite similar to purchasing real estate in North America, where construction time is approximately 7-8 months.
If you’re interested in buying a house in the Dominican Republic for investment purposes or simply looking to have a summer home for you and your family, below are the steps on how to buy a house in the Dominican Republic with Casa Linda.
Step 1: Choose Your Villa Design Plan
At Casa Linda Quality Communities, we don’t offer a one-villa-fits-all design plan; we offer numerous villa options that can be modified to ensure that your house suits your unique taste and needs. With Casa Linda, you get your villa your way!
Step 2: Choose The Perfect Lot
After you’ve decided on your villa design plan, you will then have the option of choosing where it should be located! Our friendly sales team will help you choose the right lot that gets the perfect sunshine and cool tropical breeze you’ve always wanted. Our sales team will fill out a reservation for your lot and hold it until 25,000 USD is wired to our team.
Step 3: Villa Design Plan Approval
Casa Linda is a custom builder, which means we are ready to make any changes to your plan to suit your unique needs. During this stage of the buying process, you can choose what you want to include or change in your villa. If, for any reason, this process is not completed during your stay; this step can also be continued via email after you leave the Dominican Republic.
Step 4: Contract of Sale
During this step, you will be appointed a lawyer that will draft the final purchase contract and deed of sale. You will also be provided with English copies for your approval. If you’re staying in the Dominican Republic for a few days, you can attend the signing or have your lawyer sign on your behalf if you’re out of the country.
Step 5: Building Process
The building process can start immediately or over the next several months, according to your needs. Your payments will be wired to the law firm trust/escrow account and released to Casa Linda upon your approval. Payments are also made during the following stages of the building process:
- 35% of the purchase price is to be paid to begin construction
- 30% of the purchase price is to be paid 3 – 4 weeks after the start of the construction (which depends upon the construction schedule)
- 25% of the purchase price is to be paid 3 – 4 weeks after the start of construction (which depends upon the construction schedule)
- 10% of the purchase price is to be paid upon possession of the villa
Step 6: Decorator (optional)
Working with a decorator is an optional step in the buying process if you choose to decorate your home before moving in. Two months before the completion of your villa, you can work with a decorator to start purchasing furnishings, window coverings, linens, kitchenware, etc., for your villa.
Step 7: Move In!
After you sign up with our Administration and/or Rental Departments, Casa Linda will turn over your completed villa to you!
Step 8: Title Change
The final stage of the buying process is the title change which generally takes a few months for the title to be conveyed from Casa Linda to your name. Once that’s done, you have full ownership of the property!
Congratulations, and welcome to the Caribbean life of the Dominican Republic!
Start Your Buying Process With Casa Linda
Contact us today to learn more about our buying process on how to buy a house in the Dominican Republic.