talk this weekend in New York, to promote the strengthening of legal security in the real estate area of the country.
Carlos Bonilla, head of the entity, led the event entitled " Guide to buying a home safely", with the purpose of guiding the Dominican diaspora on how to make reliable real estate investments in their country of origin.
During the meeting, held at the headquarters of the Dominican Culture Directorate Abroad , located in Upper Manhattan, Bonilla highlighted the importance of educating Dominicans abroad about the legal and technical steps they must follow when acquiring property in the Dominican Republic.
The official explained that the initiative aims to prevent fraud and ensure that buyers understand the key elements for a safe investment. “We want every Dominican to be able to make their decision with confidence, knowing what documents to request, how to verify a project, and what legal aspects to review before handing over their money,” he added.
During his presentation, Bonilla summarized some of the essential points that every buyer abroad should consider:
1. Verify the title deed, which must be in the name of the project promoter or have legal authorization from the original owner.
2. Request a certificate of charges and encumbrances: This allows you to know if the property has litigation, loans, or other legal restrictions.
3. Confirm if the project is held in trust: This ensures legal and financial backing. It is recommended that the trustee be affiliated with ASOFIDOM.
4. Verify permits and licenses: The project must have permits from the City Hall, the Ministry of Environment, the Ministry of Tourism (if applicable), and the construction license from the Mivhed.
Also, verify the legal status of the property, ensuring it has no legal encumbrances and that it is up to date with the Property Tax (IPI).
