The Real Estate in Punta Cana
There are many pressing reasons for investment in tangible goods these days. This is why property dealings, diamond trade, and sale of precious metals are seeing a noticeable boom all around the world. Buying real estate in Punta Cana located in the beautiful Dominican Republic of the Caribbean Islands, may be one such profitable venture. The DR welcomes foreign traffic as well as investments with open arms. The country is fast-becoming a hotspot for real estate investments like empty lots, condos, villas, and apartments. Many foreigners use these properties as second homes, holiday homes, retirement homes, or simply put them up for rent to the tourists and earn a parallel income.
Property in the country is fairly affordable as compared to other locations in the Caribbean. This translates into people from all walks of life opting to make real estate investments here. To find an ideal condo or villa for you, all you need to find is a good local real estate agency. These professionals specialize in finding the perfect place that not only fit into your preferred budget, but also does all this without compromising on aspects like location, condition of the place, or square feet size of the property. They are the best people to guide you trough the process of buying, selling or renting out real estate.
Whether you are planning to buy a commercial or residential property in the country to star a new business endeavor or the like, there are some taxes you will need to look at. For instance, the Real Estate Transfer Tax (Law 33-91). To pay this tax after purchase of any property, you will need to first acquire the following documents; the original copy of the Sales Contract, the seller property Title Certificate, seller personal Identification, and buyer personal identification. These documents are to be delivered at the DGII in order to request authorization to pay the transfer tax. Real estate agencies can provide you with such information beforehand, or even do the needful on your part. Thus, finding a reliable and reputable real estate firm is imperative in buying property in the country.
Another thing you will need to do is appoint a lawyer to do research on the legal status, tax, fiscal risks involved, etc on the property you wish to buy. You can ask your real estate agent for some names, in case you do not know whom to approach. The lawyer can go through all the details and obtain the needed documents for you to proceed with the real estate purchase. He will also assist in negotiating the deal, keeping your best interest in mind. You will realize that with a good real estate agency and lawyer by your side, buying real estate in Punta Cana can be simple and hassle-free.