Santo Domingo. – Attorney Rahonel Rodríguez urged citizens to carry out a due diligence process before purchasing a property, with the purpose of significantly reducing the risk of falling victim to real estate fraud and protecting assets built with years of effort.
Rodríguez explained that due diligence consists of a comprehensive and exhaustive investigation of both the property and the people involved in the transaction, allowing the buyer to know the legal, tax, and administrative status of the property before making any investment.
The legal expert warned that there are multiple forms of deception in the real estate market, many of which are difficult to detect for those who do not have the guidance of a specialized professional. He pointed out that, at times, people allow themselves to be convinced by persuasive speeches, well-crafted marketing strategies, or apparent guarantees of trust, without verifying the legality of the transaction.
“It is preferable to invest in professional advice before facing a legal problem that could represent the loss of assets,” maintained Rodríguez, highlighting that a preventive review avoids costly litigation, long judicial processes, and uncertainty regarding the recovery of the investment.
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Among the main aspects recommended to verify before acquiring a property are:
- Confirm that the seller is the legitimate owner of the property rights or has the corresponding legal representation to carry out the sale.
- Investigate the judicial reputation and the legal and tax status of the seller, including the verifications established by legislation on anti-money laundering.
- Verify that the property is free of charges, liens, mortgages, seizures, easements, or precautionary annotations. In case any exist, the buyer must be fully aware of their legal implications before finalizing the purchase.
- Avoid the acquisition of properties whose ownership or existence is subject to judicial litigation, as a final decision could affect or extinguish the acquired property right.
- In the case of condominiums, verify that there are no debts for maintenance, because, in accordance with Article 31 of Law No. 5038 of November 21, 1958, such obligations follow the property.
- If the purchase corresponds to a project in blueprints or under construction, verify that it has all the permits issued by the competent authorities, as well as evaluate the viability of the project, the developer’s track record, and other technical and legal elements that guarantee the security of the investment.
Finally, Lic. Rahonel Rodríguez reiterated that prevention is the best tool to avoid real estate fraud and assured that having the guidance of a qualified professional allows for considerably reducing risks and offering greater legal security to the buyer.
