What are some of the differences about life in the DR as compared to N. America? Phone service here is almost as good as in North America and internet hookup is easy to get. Most North American children attend private schools taught by Americans and Europeans. They have classmates from different countries, cultures and languages. Classes are small with more teacher time per student. Here I feel my 9 year-old daughter is safe waiting on the roadside near her school, or anywhere in fact, because of a different cultural attitude. It is easier here to spend more time with family as there are less distractions. Life here, as music, tends to be at a higher volume and people are not as tidy. But there is no racial discrimination.

What are prices of homes/condos on the beach? Near beach? Construction costs?
Large villas on beach go from $249,000. A short distance from the beach homes are $50,000 and up. Two bedroom condos on the beach go for $135,000, but a short distance away they are from $20,000 for a studio and $39,900 for a one bedroom garden condo with pool and security. Construction costs from US$35/sqft.

What precautions must a buyer take in the Dominican Republic?
Buyers should ask around about the agency they are working with. Ask the people who live here, in the hotels, restaurants, business people. These are small communities. People know and will tell you who has a bad reputation. We who are here for the long-haul would prefer newcomers not get started wrong. It's bad for business. The same goes for a local lawyer who can help immensely if he is independent and not working for one agency. You can also check with your own consular officials.

What are the requirements of residency in the Dominican Republic?
Residency requirements here are very easy. Usually a lawyer will do the legwork and you must supply copies of passport, personal information, photos, have a medical exam, and a little patience. Meanwhile you can stay at least 2 months on a tourist card and more if you pay a very small fee at the airport. If you are planning on operating a business you must have residency. You don't have to invest to qualify, just being here is OK.

Why should one consider buying now in Sosua or the Dominican Republic?
Property prices have been flat for several years. We now have a progressive young president and a new team. The ad campaign in North America means that many Americans will soon hear about the Dominican Republic. Thousands of Europeans have moved here from far away. North Americans have been missing the boat on this place. This country has a democratic tradition of land ownership and government. 

What are the best buys that American Realty is offering at this time?
Great buys right now include:
1) A duplex with two 2br apartments with ocean view in a good rental area only 3 minutes to town at $98,000.
2) A 4-plex only 4 minutes to the beach for $135,000.
3) A hillside 3br villa with separate guest apartment with a great view to the ocean, large lot with room for expansion in a quiet area for $138,000.
4) Two 650 sqft one bedroom condos in an American-built project popular with foreign residents at $39,900 and $42,900.
5) A small studio condo for $20,000.

When launching your quest for your piece of paradise keep some simple rules in mind if you wish to ensure a future profit on your property investment:
1) Acquire current data.
2) Study your market.
3) Buy in the right location.
4) At the right price.
5) At the right time. The time for the "D.R." is right now.

Organize your search.  After deciding your price range and search areas, make a list of amenities that your property must have, ie; view(sunrise/set), waterfront, beachfront, boatdock, pool, golfcourse, etc. Evaluate your choices. Keep track with a ledger or computer database. Create fields such as:
a) your inquiry date
b) date of their reply
c) vendors name
d) tel #
e) fax
f) address
g) location
h) size of land
i) building size
j) price
k) description 
l) furnished
m) terms
n) taxes
o)value 
p) price to offer, etc. 
Organize your data. Code each property for easy on-site ID. You will need this info at your destination.

Compile your data, make your plans and go. Stay at the property or nearby. Many sellers will happily offer a rental discount if they know you are a prospective buyer. They may also deduct the rental cost if you do buy. While there check out the local situation. Talk with neighbors, ex-pats and fellow countrymen who live in the area. Attend social and sporting events, get a feel for what it would be like to live there. Before making an offer, get a contractor's estimate of repair costs. Check out the vendor. Get impartial advice on local lawyers and get their fee schedule. Ask about transfer taxes, duties and other buying and closing costs.

Though not the norm in many locales, try to get the seller to provide title insurance that will refund your investment if a title problem appears later. Even if you have to pay for title insurance, your peace of mind is worth its cost. We've found a reputable US-based company that offers title insurance throughout the English-speaking Caribbean. Contact: Intl. Data Mgmt.; Tel.(561)798-6645, Fax 798-8386.

Devise your own valuation formula. Example: Estimate value of the land. Consider location, view, etc. (seaview lot) $ 70,000. Estimate value of buildings and improvements. (3br, 1200 sqft home) +125,000. Estimate cost of repairs and needed improvements. (roof, terrace, paint, etc) - 20,000. Allow for buyer's/seller's market and your criteria. (+) or (-). Estimate current condition and market valuation. $175,000
Determine price you will offer, $________; and maximum you would pay $________.

What about financing in the Caribbean? Although bank financing is not available to foreigners in most offshore locations, terms are possible from sellers, especially in buyers markets.

How about rental management? Much depends on how much time and effort you contribute to: advertising, correspondence, bookings, maintenance, etc.

1) Owner on site: If you will be living on or near your rental property you will be able to oversee more management details and maintenance, thereby maximizing your return.

2) Owner away but handles rentals: If your property is maintained by contract or an owners association, you may be able to advertise it and handle the rentals remotely.

3) Owner away with no involvement: If you are too busy or just cant be bothered with any management responsibility then your most important task will be to find a good, reliable management company. 

Many resort areas have excellent rental management companies. Check out the company thoroughly before you entrust your property to them. Fees range from 10%-50% depending upon their involvement. Fees escalate with services provided, ie; 
a) hand the keys over
b) collect the rent
c) book rentals
d) advertise your property
e) maintain your property
f) pick up your guests at the airport
g) host your guests for get acquainted briefings or dinner
h) transport your guests around and
i) highest fees of all include manager hearing your guest's life story and seeing their grandkid's photos while listening to how much better things work back in Ohio.

The time, effort and expense required to find and purchase your ideal offshore property can be a formidable task. Data must be acquired, sorted, analyzed and familiarization trips made. It can become a lot of work before the fun begins. Is there an easier way? 
The Caribbean Property List has organized data by country and includes kind of property, prices and the direct contacts to the seller’s. Check out the DataBank lists online. This property data can greatly accelerate your quest to acquire, enjoy and profit from your Caribbean investments.

In the past four years, after presenting over 5,000 Caribbean and Latin American properties for sale, I have not seen a better example of a classic buyers market about to turn around than the "D.R." - Jerald Ritter.