PROCESS TO BUY AND BUILD YOUR DREAM VILLA IN DOMINICAN REPUBLIC
1. Choose the lot you like in the project
2. Find a DR real estate lawyer to begin the legal process to buy
3. Reserve the lot with a deposit of 10% of the final price of the villa you choose to build. This deposit will be wired to the law firm’s trust/escrow account to hold the lot.
4. A Contract of Sale is drafted by the law firm in Spanish. This is the document that will be registered at the DR land titles office. You are given an English copy for your approval if necessary.
PAYMENT STAGES DURING THE CONSTRUCTION
35% of purchase price to begin construction (this amount is less $10% of the lot reservation that was done previously
30% of purchase price when the walls of the construction are ready
30% of purchase price when the roof slab, the pañete, the floors, the ceramics of the bathrooms and the base paint for the walls are installed
5% percent when all the work in the villa is finished, necessary for taking possession of the villa.
Financing available with locals banks for foreigns and also directly with us.