Dominican Republic Real Estate FAQ

Frequently Asked Questions

• Can foreigners buy property in the Dominican Republic?

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  Yes. Foreign buyers can generally own property with the same rights as locals, subject to normal title and legal checks.

• What documents do sellers typically need?

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  Sellers usually provide the Certificate of Title, ID, tax receipts, HOA details if applicable, and any permits or building documents.

• How long does a typical closing take?

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  Most closings take several weeks after offer acceptance, depending on due diligence, financing, and title review timelines.

• What are typical closing costs?

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  Typical costs may include transfer tax, notary fees, registry fees, and attorney fees. The exact amounts vary by transaction.

• How much is the transfer tax?

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  Transfer tax is commonly around 3% of the property value, unless the parties agree otherwise or current law changes.

• What is a promissory contract?

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  It is a preliminary agreement that outlines price, timelines, and conditions before the final deed is signed.

• Is escrow used for deposits?

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  Deposits are often held in escrow or a trusted attorney account when available, with release terms defined in writing.

• Do I need a lawyer or notary?

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  A local attorney and notary are commonly involved to review title, prepare contracts, and finalize the deed.

• Can I buy remotely?

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  Yes. Many buyers use a power of attorney, properly notarized and legalized, to complete parts of the process remotely.

• Are property inspections required?

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  Inspections are not always required, but they are recommended to verify condition, boundaries, and utilities.

• Can I rent out my property?

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  Yes, rentals are common. Check HOA rules, local regulations, and any required permits for short-term rentals.

• How does Ocean MG help during the process?

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  We handle pricing guidance, marketing, buyer screening, negotiation support, and coordination with legal professionals through closing.