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reliableservices@att.net
www.reliablerealtydr.com
 Personal Mission Statement: “We
are constantly reminded that sound ethics are the cornerstone
to success... However, “walking
the talk” is often in contrast. Having been an interracial
part of the United States as respected citizens in good standing
as well as former business owners; our valued testimonials are
evidence our business practices are indeed honest and ethical. A
good reputation has always been vital to our success, so this is
the mission statement we are committed to honoring as your selected
real estate agency in the Dominican Republic’. VIEW
TESTIMONIALS
After conquering many obstacles and challenges involved
with living and working in this area, Reliable
Realty DR emerged as an agency, primarily representing English
speaking investors and buying and selling clients who have been, or are still searching
for a reliable and trustworthy real estate agency and /or property
management company. Reliable Realty provides full-service
real estate assistance in residential, commercial, land, and investment
properties, as well as an array of short, mid, and long term rental
options. In November of 2010, Reliable Realty expanded their services
to include excursion (tour) coordination for our thousands of vacation
rental clients, as well as Relocation/ Consulting services. Please
contact Maria Williams (Broker/ Owner) for a customized quote.
Deciding
on making Punta Cana our second home and continue our passions
in Real Estate and Property Management has been challenging but
enlightening. There are definitely two kinds of real
estate agencies (agents) here. Those who are “salespeople” looking
for short-term results… and those who see the big picture,
and realize the importance of consistent
and ethical real estate practices, full-filling every aspect of
the sale from start to finish, due diligence, and the value of
long-term relationship building and ongoing referrals.
Our experience thus far, has
given us new insights on the importance of adapting to the local
Caribbean (Latin) and business culture. We have learned that procedures take
longer, and that local networking is extremely important and primarily
done face to face, V.S. by phone or email. Earning trust
takes time and despite daily obstacles, a good reputation can only
be accomplished by working hard, being kind and patient… yet
persistent, and remaining true to yourself and others.”
 In October of 2010, Reliable Realty SRL opened
a new office in the heart of the tourist town of El Cortecito
in Plaza Artistica; located across the street, and between the
Carabela Beach Resort & Casino and the Barceló Dominican
Beach Resort. Reliable Realty SRL is a registered Dominican Republic
LLC corporation.
Our
Office Administrator/ Sales Assistant/ and Excursion Coordinator
is Claudine Cueruo. Claudine was born in the Dominican Republic,
raised and educated in both the U.S. and Dominican Republic,
and now (like us) lives full time in the Punta Cana area. Claudine
speaks, reads and writes fluently in both English and Spanish,
she understands both cultures, which is a great asset to both
our agency and the thousands of clients we service annually.
Claudine offers a wealth of information and history about this
growing area, she is always ready, willing and eager to assist.
Key reasons” we decided to open
our own Real Estate Agency. With Maria’s U.S. Real Estate
License, focused on real estate ethics, our healthy and established
relationships with developers, suppliers, and various professionals,
along with our hard knock cultural learning lessons, we are confident
we can offer the most reliable services to assure you are getting
the best “bang for your buck” in both real estate and
Reliable Property Management Services. Due to our growth,
rather than get “too big for our britches”, we decided
to be selective in the clients we represent so we can provide more
personal attention to our serious buyers, reputable sellers, our
buying clients property management needs. and servicing their “vacation
rental guests”. HOWEVER…
We also realize not everyone
is ready to buy property here. Like you, our time and resources
are very valuable. So for serious
inquiries, we are committed (and excited) to provide a tour of
this area, its amazing amenities and beaches, as well as 5-8
of the best properties meeting your specific needs at
no cost. However, if you are just starting your search and
unsure of this area, we will be happy to provide a REAL
ESTATE ASSESSMENT TOUR of the local area, its nearby amenities and
up to 5-6 properties for a modest fee of $75 per person. (Discounts
to Seniors 65 and over, children under 12, and Veterans). This
comprehensive real estate tour takes 5 -6 hours and includes beverages
throughout the day, along with a light lunch on the beach. Although
this is not an excursion, we are told that our tours are fun and
the most informative assessment tours our clients have ever taken,
and especially beneficial if you are planning to retire or relocate
here. I'm sorry, but at this time we can only accommodate
up to 4 adults at one time in our personal SUV. Should you
decide to purchase, this cost will be applied toward your purchase
Our
knowledge & experience of this area quick responsiveness,
and honest recommendations can help guide you through the complex
maze of the Dominican Republic’s real estate process. We
can assist you with all the details before, during and after the
sale. “ Our Team” offers assistance in English,
and Spanish, and we are eager to help when selecting the right
translation, legal, financial, and/ or Insurance providers; as
well as assistance in Relocation Consultation.
Property Management,
and array other services including furniture, Home Décor
repairs, renovation, securing all utility services (electric, cable,
internet, etc.) … and MORE!
If you own real estate that
you're thinking of selling, we
would be happy to provide you with a FREE Home Evaluation and a
comprehensive strategic marketing plan to get your property sold
fast! Please Note: Reliable Realty only accepts titled properties,
and or proof that your title has been applied for and is in process.
If
you already own a condo or villa on the beach and would like more
information about our affordable, full service reliable property
management services... let’s talk!
NOTE: AT THIS
TIME, AND DUE TO POPULAR DEMAND, REALIABLE REALTY DR IS ONLY ACCEPTING
PROPERTY MANAGEMENT REQUESTS FROM EXISTING CLIENTS, CLIENTS WHO
HAVE PURCHASED PROPERTIES WITH US, OR PROPERTIES IN BEACHFRONT
COMMUNITIES.
We thank you for considering the “RELIABLE
REALTY DR TEAM” to
help assist you with all your real estate investment, property
management and/ or relocation needs. We look forward
to working with you in the future either through our websites questionnaires,
emails, your calls or better yet… during your visit to this
amazing Caribbean island.
Hope to see you soon!
Todd & Maria
Williams
1.829.274.1637 (Maria)
1.829.754.7259 (Todd)
1.810.213.1474 (fax)
reliableagent@att.net
FAQ’S - FREQUENTLY ASKED
QUESTIONS ABOUT BUYING
REAL ESTATE IN THE DOMINICAN REPUBLIC
Do foreigners need to be residents of the Dominican Republic to
buy properties?
There are no restrictions for foreigners to buy properties in the
Dominican Republic. They receive a freehold title and have
the same rights as any landowner in the Dominican Republic. Foreigners
do not need to be residents (although there are govt. incentives
for doing so).
What
can I expect to pay in Property Taxes?
This is one of the best incentives offered by the Dominican Government
to foreign investors. Tax Abatement law #151 basically states,
that you are exempt from paying property taxes on the first (approx.)
$140,000 purchase (based on the peso to US$ exchange rate at the
time), then any remaining tax is at approximately 1% on the balance
each year for the length of ownership. I.e. if you purchased
a $200,000 qualifying condo, there is no property tax on the first
$140,000; the remaining $60,000 may or may not be taxed at only
1% per year. This is the general description, properties
must have a qualifying status, and each property may have some
variations. A reputable Dominican Attorney, versed in Real
Estate can explain your particular situation in more detail. You
may even qualify for the retirement incentive, with would bring
your property tax rate to only half (0.5%). Please send a
request for this large PDF. Document.
What is the procedure for
buying properties in the Dominican Republic?
First, be sure that the owner or realtor from whom you are buying
is a trustworthy person or entity. It is necessary to
use an attorney to provide the legal purchase agreements, and beneficial
and cost effective to use and attorney for the complete title transfer
as well; RELIABLE REALTY only works with reputable attorneys,
Title Insurance/ escrow Companies, Insurance providers and other
legal services. Our assistance is mandatory to assure onsite coordination
needed for a smooth transaction and a fully executed contract.
What
taxes and fees are involved when acquiring property in the Dominican
Republic?
There is a one-time transfer tax of approximately 3.5% (includes
legal fees). Transfer taxes are paid based on the assessed
value of the property as determined by the tax authorities, and
is not based on the price of purchase. Lawyer fees are approximately
1% - 2% of the purchase price of the property. More, if placing
the property into a Dominican Corporation name.
Are title insurance
and/ or escrow services available in the Dominican Republic?
Yes, Stewart Title, a North American company has been established
in the country for many years, providing dependable title insurance
and escrow services.
What about inheriting real estate by foreigners?
There are no restrictions on foreigners inheriting title to real
property in the Dominican Republic. Inheritance taxes have
been recently lowered to 3% of the appraised value of the estate. If
the beneficiary resides outside the Dominican Republic, inheritance
taxes are 4.5%
Is it easy to become a resident of the Dominican Republic?
Yes, the initial process (called provincial Residency) includes
some minor medical tests done in Santo Domingo to assure you
do not have aids, hepatitis, tuberculosis, and are free of drugs. Also,
you will need to provide an original Birth Certificate, original
Marriage Certificate, physical (colored) copies of your original
passport, and recently, a clean criminal background check from
your original country (State or Province) of origin and established
residence. These documents must have an authentic Apostle Seal
(international notary). You will also need 8 photo’s 2x2,
which are taken and paid for in Santo Domingo. In some cases,
a bank or professional reference letter, and/ or proof of any
investment made in this country. The cost averages $1,200
per person and takes 3-6 months. Discounts are offered for 2
or more persons applying at the same time. If someone quotes
you much less in cost or time, beware…
Can I retain
citizenship in my home country & the Dominican
Republic?
Absolutely! You can have dual citizenship with little or no restrictions
(check with your home country).
For More Legal Detailed Information
click here
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