禁漫天堂

Also, does this apply to only new builds or resale ?

You already found the answer. Real estate is often shady business here, especially pre-construction. Even with 鈥漵olid鈥� contracts they will try to squeeze more money out of you and often with succes because going to court is often not worth it. Delays and higher material costs are common. Do not assume you get refunds in this country.

That is so depressing.....how can they expect to do business that way. Hopefully there are exceptions.

In all articles and info received it's important to understand the source of that info.聽 Meaning confirm everything and don't believe everything you read.

Real estate can be a crap shoot.聽 This is the time to pay for great legal advice

As a realtor working in Punta Cana for over 5 years, I can firmly tell you that I have never once seen a developer refund that initial $5000 USD reservation fee. That fee is non refundable, and whether that is "illegal" as the article states, I have not once seen a refund take place if the clients decided not to go forward with the unit. That is why I always tell my clients to be 150% sure when making a purchase and I only work with trusted builders who have a relationship with the banks here, so that the issue of not being approved at closing does not arise. Things work very different here, and unfortunately not everything that is published reflects what actually happens on the ground.

@Mdcf5

聽 聽 don鈥檛 put any money down till your sitting at the table signing the contract .

who will you go to to get the money back if they pull out of the deal , the courts wont聽 help yer , and your Realtor will split the money with the seller , and bring in another 鈥滿ark 鈥� next month ,聽 remember you have no friends here to help you through the process聽 so keep your money in your pocket聽 till the ink is on the paper