The review of promise of sale contracts for pre-construction real estate property in Punta Cana requires years of experience and the edge to find out the check items needing clarification, update or negotiation by the purchaser with the owner and developer.

Buyers often ask for a second opinion or the review of their promise of sale contracts for pre-construction due to the fact that the legal advisors suggested by the Owner or Developer have no independence and may show no interest in pointing out punch items, how the contract actually works or what is missing.

For instance, promise of sale contracts for pre-construction in Punta Cana have become over the years a lengthy compound of legal provisions intended to enforce a payment schedule and sanction late or no payments by the Buyer while providing a multitude of unilateral waivers in favor of Owner or Developer.

What is scantly explained or absent in the contracts may go undetected by casual reviewers, lay people and AI contract review tools and it is those missing pieces of the contract review puzzle what may end up affecting buyer’s expectations during pre-construction and after the promise of sale contract is signed.

We therefore suggest buyers to retain qualified, experienced and independent advisors like us to point out any dark provisions needing clarification, update or negotiation by the purchaser and seller and to understand how the real estate property contract will operate during pre-construction and delivery.

Do you want more information about our services for Buying pre construction real estate in Punta Cana? Contact Us.

ABOUT THE AUTHOR: Felipe Castillo is a Partner leading the Foreign Investment, Real Estate & Tourism areas at Arthur & Castillo Advisers and Consultants in the Dominican Republic. He specializes in foreign investment, real estate and international business (Master in International Business, Entrepreneurship and Finance Studies from Georgetown University in Washington, D.C. & Masters in International E- Business in Universitat Pompeu Fabra in Barcelona) with more than 20 years of experience in Foreign Investment, Free Trade Zones, International Business and Cross Border Real Estate practice. He is a Certified Business Bankruptcy Expert and English and Spanish Interpreter.

Email: fcastillo@aclaw.com

Disclaimer: This publication is not intended to provide advice or suggest a guaranteed outcome as individual situations will differ and the situation may have changed since publication. For specific advice on the information provided and related topics, please contact the author.

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