Buying property without a realtor

Don't buy land (or real estate) without a lawyer who is taking care of your interests!

Please get your OWN lawyer. Please see previous post about how our lawyer saved us so many times from problems. I highly also recommend you get a lawyer that speaks English well. Even after our closing there were many things he continues to handle for us. Get a lawyer!!!  We recommend Marti Hector Rodriquez 787.833.5347

No don't do it...you need your own lawyer.  I know several people who were scammed that way! People try and sell properties they don't own with fake documents and then disappear with your money!

Take what Gary, Dora and Dejahre say above as gospel. You'd be a fool not to.

Get your own lawyer! Title searches are tricky in Puerto Rico. There was a time when some land was leased by the government for farming purposes, but was 'sold' by the occupants.  The persons who 'bought' the property ended up with a legal nightmare.

Thank you for your replies.  I guess it only makes sense to do what ever you can to safe guard your investment.

A realtor is not necessary. Many transactions happen without them.  YOU DO need your OWN lawyer.   PR land law and titles are complicated and often cloudy.  A title insurance policy is a must in my opinion.  They will search old claims which often arise out of estates; delinquent taxes (also very common)  and other problems with the title. 

I would not under any circumstances rely on the sellers lawyer.  That is just plain s.... unwise.

I'm buying a home in gated community my realtor said I do not need an attorney but after seeing this blog I am thinking about hiring one just to be safe. A title search is not done by the bank? Will my attorney be present at the time of my closing?

GET a lawyer.  Laws and regulations here are NOT clear and many properties do not have clear titles due to antiquated inheritance laws  and tax situations.   You may "buy" a property and find out that you don't really own it!!  Also, there are peculiarities if you are married, and have children regarding inheritance rules and laws.  A mainland will does NOT adequately cover property inheritance here in PR.  A married woman cannot own property apart from her spouse.  Get a lawyer and a good one.

the realtor who told you you don't need a lawyer should be shot!!!

I think it depends on the community.  I purchased a condo in Palmas del Mar and financed the purchase with Santander.  Both the seller (the developer, not an individual) and the bank had attorneys. Also, there was a representative for the condo's homeowners association. In this case I felt confident that I did not need to hire my own attorney.  Looking at the pile of paperwork (they even gave me a dvd with information) I feel I made the right decision.
This is not my first time purchasing property but it is the first time I did not have an attorney.

The laws here are VERY different than the mainland... You might have been lucky BUT many properties don't have clear title or ownership and while it might not be a problem initially,  you might owe hidden taxes and not get a clear title to be able to sell or for your heirs to inherit.  Also,  a mainland will is usually NOT valid in PR for property. Ever wonder why there appear to be so many abandoned properties here?  It's got to do with inheritance laws.   Even with a lawyer the process is not clear.

This may help, but I found this article from a real estate agent who recently relocated to Puerto Rico, and it was full of great insight, experiences, and advice.  You can just google it: "14 Things We Learned Buying a Home in Puerto Rico" and it should come up, bu it not, here is the link:  https://www.linkedin.com/pulse/20141111 … uerto-rico

Hope this helps.

Regards,

Tyler

Thank you for sharing!  For the past 15 years,  I've been a mortgage broker in California specializing in high net worth self employed buyers.  Never in a million years would I dream of representing myself during a purchase transaction.  This article reinforces my initial impression of the real estate market in PR. That being said,  I can't wait for our relocation and future purchase.

I have bought two properties in Puerto Rico without a realtor. As has been mentioned you need a good honorable attorney. CRIM has information regarding taxes and ownership. Signatures of all heirs are needed. Real estate agents in Puerto Rico are not the same as real estate agents on the mainland. Their roles are not as important. If the property is current on taxes and all heirs sign the document and there are no liens then it is a fairly easy transaction from my experiences.

If you are buying thru the bank (financing), the bank will run a tittle search to safeguard their/your interests. But if you are doing a cash transaction I will highly recommend going thru a lawyer in PR. the lawyer will make sure the land tittle is clear and will record it in "el registro de la propiedad" with the government (CRIM).

If you are buying thru the bank (financing), the bank will run a tittle search to safeguard their/your interests. But if you are doing a cash transaction I will highly recommend going thru a lawyer in PR. the lawyer will make sure the land tittle is clear and will record it in "el registro de la propiedad" with the government (CRIM).

Hi, we just put an offer to a house and after reading the forum we definitely want to hire a lawyer even we do have a realtor.

Any recommendations on a lawyer around Dorado area?

Thank you
Susanna

I have a lawyer for you, tell him Reinaldo Perez send you. Let me know how you like him also.
Jean Marcel Menay
bufetejeanmenay[at]yahoo.com
Fax (787) 995-0025
Cell (787) 638-7715
Office (787) 995-0025
He should be able to do a title search, check the contract, add protections to the contract, add any other conditions you want, and then do the closing.

If you want a house inspector with an Engineering Degree let me know, a little more than normal but can check the place good.

Thanks Reynaldo

Susanna45 wrote:

Thanks Reynaldo

I told him you will call him Monday..
LOL Realtors, Lawyers and house inspectors answer my texts on Sundays.

That says a lot! I want to be like you!!' Lol!

Susanna, were you able to get a hold of the lawyer I gave you?
You should not make a written offer and put your money down without having the lawyer check the pre-sales contract, otherwise you may decide to blackout and lose your money due to some condition not covered in the pre-sales document.

We called him yesterday but didn't answer the phone. We left a message with my number and a brief explanation of what we need.

He hasn't called back

I just text him about it