The Estates at Puntacana Resort & Club – Questions and Answers.

Over the years we have found that potential buyers from all over the world have questions concerning the purchase of real estate in the Dominican Republic, specifically within Puntacana Resort 8 Club. Puntacana Resort & Club would like to dispel any confusion regarding real estate handling within the resort; we hope you find many of your questions answered below.

Following are the most frequently asked questions:

Q: What currency is used to purchase property?

A: Property within Puntacana Resort & Club is purchased with U.S dollars.

Q: When purchasing property within Puntacana Resort & Club, what documentation is required in addition to the contract for sale-purchase of real property?

A: If it is a Company that signs the purchase agreement you will need:

  • Original of the Purchase Agreement notarized signatures of buyer and seller.
  • Title of the Property.
  • Corporative Documents of the Company. (Corporate Registration and Dominican Tax Number).
  • For non-Dominicans, a copy of the buyer's passport and driver's license or ID.
  • Invoice that evidence the payments.

If it is under a Private Name:

  • Original of the Purchase Agreement notarized signatures of buyer and seller.
  • Title of the Property.
  • For non-Dominicans, a copy of the buyer's passport and driver's license or ID.
  • Invoice that evidence the payments.

Q: How much is the property transfer tax?

A: 3% of the property contract price. This tax is paid only if the property purchase is not under the benefit of the 158-01 and its modifications Tax must be paid within six month of signing the sales contract.

Q: How much are annual property taxes?

A: If the property is owned by a Company you will have to pay 1% of the assessed assets owned by the company. If the property is under a private name the yearly taxes are 1% of the appraised value. Of this amount the first RD$ 6,500,000 are exempt, meaning that only the difference will be taxable

Q: Are there any other costs associated with the purchase of the property?

A: Yes. Actually, additional costs include minor service rates and stamps for notarization and the issuance of the new title certificate. There is also a closing fee of a 0.25 % of the price that includes the registration of the transfer and issuance of the deed. All these costs must be paid before filling the transfer.

Q: Are there legal benefits to the purchase of property within the resort?

A: Yes, if you purchase property within Puntacana Resort & Club you will enjoy the benefits of Law 158-01 and Law 195-13, both these regulations were created to promote tourism developments. These incentives granted by the regulations mentioned only apply to the original buyer of a property within Puntacana Resort 8 Club and will be exempt from the 3% tax for issuing the Title under the name of the owner.

Q: Does a local law firm handle the registration of the property transfer and obtain the new deed in my name? If so, how much does the service cost?

A: If the purchase is made directly with Puntacana the process of issuing the title in name of the new owner is made by Puntacana Resort & Club's Legal Department. If it is a re-sale of the property we have a list of recommended lawyers that can help you through the complete process. This list can be provided by your Sales Executive or our office manager.

Q: Can | get a loan/ mortgage for a home, condo or home site in the Dominican Republic?

A: Yes. The terms, duration of loans, and interest rates are generally higher in the Dominican Republic. In Punta Cana we have many local banks that can assist you. Your Sales representative can help you with the contacts.

Q: Do | have to begin building on my homesite right away?

A: The purchase agreement requires you to begin building your approved home within two years after closing the transaction. If there is a delay this agreement calls for you to request an extension specifying reasons and the new dates proposed,.

Q: What are building costs in Punta Cana?

A: The building costs will vary depending of the design, size and materials you request for your new home. We can, however, provide names of reputable local architects and construction companies with whom you can discuss building costs and other construction issues.

Q: What is the cost of electricity and water?

A: These rates will vary depending on different factors: Electricity is US$ 0.30 per Kilowatt hour. Water is US$ 0.54 per cubic meter.

Q: What about Home Owner's Insurance?

A: Insurance for your home is mandatory in Puntacana Resort 8Club. You may shop around to compare the best rates. The cost of Home Owner's insurance will depend on the value of your home as well as the value of the contents. In general, you may find that insurance costs can run for about .15% of the insured value.

Q: Are there any medical facilities nearby?

A: Yes. Punta Cana Doctors is located in our Puntacana Village and Hospiten Bávaro is less than five minutes from Punta Cana International Airport offering 24 hour services every day of the year. We also count with the latest technology in ambulances and we have our own Emergency Number for rapid assistance in the medical field, fire department and security. You can obtain a detailed brochure from your Sales Executive or our office manager.

Q: As a property owner at Puntacana Resort & Club, do | receive any special treatment or privileges?

A: Yes you do. Owners receive access to the different amenities that our resort offers, reduced rates in our hotels, bar and restaurants, golf, spa, as well, as charging privileges with your owners card. Please ask your sales executive to explain in more detail.

Q: If I purchased or build a home/villa, is there a rental program for my property?

A: Yes. There is a rental program operated by our hotel through The Estates Experience. Homes must “qualify” for the program. Your sales executive can put you in contact with this department for more details.

Q: Is there a maintenance program to take care of my home villa while i am away?

A: Yes, we have a wide variety of services that we can offer for the upkeep of your property.

Q: If i want to build a Home, can i use an architect and builder of my choice?

A: Yes you can, however, any architect or builder you choose must abide the protective covenants and regulations which pertain to all construction and landscaping within the community. A copy of these Regulations and Services is given to each property owner or can be picked up at our real estate sales office.

Q: Are there fire and police services nearby?

A: Puntacana Resort & Club has private security service 24/7 within the community. There is a fire department and a regular police force at the Punta Cana International Airport just minutes away. All these fully accessible through our own 911 Emergency Number.

Q: Is there a full a service marina available?

A: Puntacana Resort & Club has its own marina that can be used as an international port of arrival and departure. It accommodates 43 boats at full capacity. Each slip can accommodate a vessel up to 72 feet in length and 12 feet in width. This full service marina offers every vessel its own water supply, cable TV, phone line and electrical power. The channel entering the marina is nine feet deep. The marina also offers diesel and gasoline fuel service.

Q: Are there tennis courts available for play?

A: There are 12 tennis courts, nine of them are clay, one har-tru, one natural grass and one hard/deco-turf court; all of them located in Hacienda and available for day and evening play. Lessons, clinics, and court times can be arranged in the Tennis Center. We also house a fully equipped gym. Prices and costs are subject to change.