@Precision Engineer
American looking for information about Dominican Republic
Forum
28 posts
Contacts
1
About me
American, Married
Speaks English. A little Spanish
Registration: 10 September 2016
Activity
Buying properties by Mikbri
I was wondering ,,once I get my residency to the dr..I would like to purchase a small apartment and am wondering how the banks are there in the dr .for financing??? And are they easy to work with ?? Or am I better to deal with my own banks back in ...
Hi Bob; It was quite the experience.... 6 months of hoping. We watched HGTV one day - "Life in the Caribbean" and what do you know.... it was a couple trying to buy in SOV just like we did. And just like us; even with 50% down; they could ... Read More
Buying properties by Mikbri
I was wondering ,,once I get my residency to the dr..I would like to purchase a small apartment and am wondering how the banks are there in the dr .for financing??? And are they easy to work with ?? Or am I better to deal with my own banks back in ...
Exactly..... That is why we decided to regroup; save and pay cash.... looking at sometime this coming summer. Read More
Buying properties by Mikbri
I was wondering ,,once I get my residency to the dr..I would like to purchase a small apartment and am wondering how the banks are there in the dr .for financing??? And are they easy to work with ?? Or am I better to deal with my own banks back in ...
I had a quote from Cesar Emilio Gomez of Scotiabank of 6% (U.S. dollars) for 25 yrs. Bummer Sosua Ocean Village was not on the banks' approved list!! Read More
Buying properties by Mikbri
I was wondering ,,once I get my residency to the dr..I would like to purchase a small apartment and am wondering how the banks are there in the dr .for financing??? And are they easy to work with ?? Or am I better to deal with my own banks back in ...
This is the list Scotiabank sent me for approved projects. PROYECTOS AUTORIZADOS PARA FINANCIAR BAJO LA POLITICA 鈥淧RESTAMOS HIPOTECARIOS EN DOLARES PARA CLIENTES NO RESIDENTES, PROPIEDADES DE VERANEO鈥� NOMBRE DEL PROYECTO / ... Read More
Buying properties by Mikbri
I was wondering ,,once I get my residency to the dr..I would like to purchase a small apartment and am wondering how the banks are there in the dr .for financing??? And are they easy to work with ?? Or am I better to deal with my own banks back in ...
I used Jesus Garcia.... Best money I spent there..... He will get it done for you.... Read More
Buying properties by Mikbri
I was wondering ,,once I get my residency to the dr..I would like to purchase a small apartment and am wondering how the banks are there in the dr .for financing??? And are they easy to work with ?? Or am I better to deal with my own banks back in ...
Hi, I am not sure about it once you get your residency. However; only 1% of real estate sales in the DR are financed. As a U.S. citizen; we are required to buy in "approved" projects only! This means (for instance) - ScotiaBank has an ... Read More
What is the norm and formalities ? Building a villa by Precision Engineer
Hello everyone ! We have a quandary I would like to ask your professional opinion. We have picked a site in a gated community in which to build a villa. We have been pre- approved for a loan from the bank there. However, the will not formally ...
Good morning! As of this morning; the escrow has been returned with the help of Jesus Garcia Tellaj. We now are back to square 1 (with a little more education at least). Here in the states; one can get financed for new construction (even before it ... Read More
What is the norm and formalities ? Building a villa by Precision Engineer
Hello everyone ! We have a quandary I would like to ask your professional opinion. We have picked a site in a gated community in which to build a villa. We have been pre- approved for a loan from the bank there. However, the will not formally ...
Hi Paul - yes.... this has disappointed us tremendously. Especially Bonnie...... We truly wish you the best! Read More
What is the norm and formalities ? Building a villa by Precision Engineer
Hello everyone ! We have a quandary I would like to ask your professional opinion. We have picked a site in a gated community in which to build a villa. We have been pre- approved for a loan from the bank there. However, the will not formally ...
Good morning everyone, It has been awhile since I posted anything; but think it may help others as they look at moving to the DR. The following is the present status of our attempt to have a villa built in SOV. We signed a "Purchase ... Read More
Nothing but hassle by luke418
This country just seems to be getting worse and worse. I have had nothing but trouble with banks of late. Well started months ago when the cash machines at Banco Popular just refused to accept my card, checked with bank back home ,they said there ...
Wow!! I am going to quit whining! I thought I had it rough trying to get a development at Ocean Village approved by the bank in order to get my villa financed. 4 months and still waiting. But, nothing like this... Read More
Shipping Household items to the DR by Da504Family
Does anyone has a story on shipping furniture and car over to Dominican Republic and if so what was your experience and the cost and what is your opinion on if it was a good idea to get your vehicle and or furniture shipped over to the DR and if it ...
I am anxious to see the answer to the motorcycle question as well. I have 2 mint condition bikes that are 10 years old... Read More
What is the norm and formalities ? Building a villa by Precision Engineer
Hello everyone ! We have a quandary I would like to ask your professional opinion. We have picked a site in a gated community in which to build a villa. We have been pre- approved for a loan from the bank there. However, the will not formally ...
Hi Walter, That is correct - not enough equity in U.S. house based on the refinance option of up to 90%. However, in 5 years; we will have enough equity to pay off the mortgage. We got a great rate at the bank due to outstanding credit; debt to ... Read More
What is the norm and formalities ? Building a villa by Precision Engineer
Hello everyone ! We have a quandary I would like to ask your professional opinion. We have picked a site in a gated community in which to build a villa. We have been pre- approved for a loan from the bank there. However, the will not formally ...
Leocorral, Thank you for the advise. The "promise of sale" will be implemented into this effort. Thank you for that idea. I have a question as to how the trusts work there. If we go with the "new build", do I put money into ... Read More
What is the norm and formalities ? Building a villa by Precision Engineer
Hello everyone ! We have a quandary I would like to ask your professional opinion. We have picked a site in a gated community in which to build a villa. We have been pre- approved for a loan from the bank there. However, the will not formally ...
Hi Walter, Thank you for your comment. It is appreciated. As for the loan, we are offered 6% for 25 yrs (US dollars). An equity loan in the U.S. gets in the neighborhood of 7%-9%. The intent is/was to purchase now, and in 5 years when we early ... Read More
What is the norm and formalities ? Building a villa by Precision Engineer
Hello everyone ! We have a quandary I would like to ask your professional opinion. We have picked a site in a gated community in which to build a villa. We have been pre- approved for a loan from the bank there. However, the will not formally ...
We will have a 2 bedroom model. We are having them rough in both bedrooms and the main living area. If you don't mind; may I ask about how much I need to budget to finalize the installation? I appreciate the info. Like I said; you are the first ... Read More