The purchase of a property is a significant investment, so it’s important to understand all associated costs. One cost that is often overlooked is the deed of sale. In the Dominican Republic, this expense is always paid by the buyer, unless otherwise agreed.
Why is the deed of sale important?
The deed of sale is a document that formalizes the transfer of property ownership. This document is prepared by a lawyer and must be registered in the Public Registry. Having this document is important because it serves as proof of ownership.
How much does the deed of sale cost?
The deed of sale typically costs between 2% and 3% of the purchase price of the property. For example, if you purchase a property for $100,000, you can expect to pay between $2,000 and $3,000 for the deed of sale.
When buying a property in the Dominican Republic, it’s important to consider the cost of the deed of sale. This expense usually ranges from 2% to 3% of the purchase price and must be paid by the buyer unless otherwise agreed. Having this document is essential as it serves as proof of ownership.
