PUERTO RICO Real Estate-Buyer Beware

A few years ago, the hubby and I moved to Puerto Rico and purchased a townhouse in Dorado.
As an experienced Nevada real estate agent, I found the home buying process different enough that I wrote an article about it on LinkedIn. This article spawned over 135,000 views, 250 comments and is still a top Google result to this day for buying a home in Puerto Rico (link below).
Lately, I'm seeing a lot of interest in Puerto Rico Real Estate on KZbin, so I thought I'd follow up with a video on this topic.
Videos I've seen so far give nice, well-edited overviews of the shopping experience, but nobody has yet delved into the purchase transaction itself from the buyer's point of view.
Puerto Rico is definitely a Buyer Beware environment when it comes to purchasing real estate. Here are the highlights:
1. Puerto Rico has an MLS, but hardly anybody uses it.
2. Commission structures are different, and this may affect what your agent shows you.
3. It’s a miracle if you do find a good buyer agent because their job is 10x harder than on the mainland.
4. Comparable sales data is available, but from a different source.
5. Verbal negotiations are done upfront, and everybody uses their own purchase contract.
6. Agreements are structured as option contracts, and deposits are bigger.
7. You simply must have a lawyer, even if you have an agent on your side.
8. Mainland lenders don't lend here, despite what their websites may say.
9. Local lending rates are much higher than on the mainland.
10. Language barriers may limit your mortgage choices, and banks won’t guarantee rates.
11. You can get a home inspection, but they tend to sell as-is.
12. There is no escrow company, everybody shows up at the closing table.
13. Closing will take hours, but if you're lucky you'll hear some interesting life stories.
14. If you want your walkthrough to happen before closing, remember to put it in your contract.
Details are in the video, and this was our experience. Your experience may vary.
In preparing this episode, I reached out to some other folks who have purchased more recently on the island to see if much has changed since I bought a few years ago.
Most reported going through a similar experience.
I also asked them if they had anything to add, in terms of things to look out for, and boy did they ever, so in next week’s video, I’ll be sharing what they told me…
So hit that subscribe button and the little bell to be notified when that video comes out.
Have you bought property in Puerto Rico?
What was your experience?
Please share your thoughts in the comments below, as it helps everyone learn.
LinkedIn Article: / 20141111173110-2770865...
Clasificados Online: www.clasificadosonline.com/
Tasamax: tasamax.com
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--------------📝 NOTES --------------
Opinions on this channel are from our own experiences buying and selling property in the US and Puerto Rico and are for information/entertainment purposes only. Consult local professionals for serious inquiries about investing in real estate. If you allow us to introduce you to a local real estate agent and you later close a deal with them, they will pay us a referral fee, which helps support the channel. We receive nothing for introducing you to lenders or attorneys, other than good karma... :)
#puertorico #realestate #buyingahouse

[@bzadvisors8583]

I love your honesty! I’m in the process to moving to Puerto Rico and can attest to most points you’ve pointed out. I will definitely take your advise on this journey. Thank you!

[@skies1089]

Im from Puerto Rico, and this woman has helped me more than anyone here on PR who are actually supposed to help lol...! Great video! :) and i worked for a while with real estate and its exacly like this

[@geno816]

Nice.

[@josemontalvo4532]

Thank you for sharing! I enjoyed watching!

[@felixperez7068]

My wife and I purchased a nice penthouse condo, third floor, in the Dorado/Vega Alta border. From seeing the condo to closing it took me 30 days. I found a mortgage broker and I stood on top of the process and closed in record time. I financed thru the broker with Firstbank. All good. I am a Type A personality and I put everything in writing and constantly followed up to get things done!

[@ShengnanWang]

Hi Felix can you recommend your loan broker ? Thank you

[@AngelADiaz-rg1gt]

Thank you very much. I'm will buy a house in the future in Puerto Rico. Very useful...

[@LuisSoto-ey4le]

Like the way you talk, delightful.

[@erley643]

Lots of great detail. Thank you.

[@betzainypena9276]

LADY!!!!! where did you get that english is the main language in the island??????

[@arielbrea1899]

Excelente, Muchas gracias 🙏🏼, good information

[@madelin483]

LOL!!!!! YES!!! Welcome to PR! I love this video!

[@dexterfandango]

Thank you so much for this information!

[@carlosmatta5947]

LOVED IT! Totally on point!

[@vicmaiso]

Great video.. I am broker in PR and Florida. To me when I arrive to Florida and saw, so many sentences at the contract was challenging to do business. Since in PR.. 1-2 pages and that's it. Go to closing!

[@jeffh3984]

thank you for all this useful information

[@rdk2086]

Thank you for all the information

[@puertoricoistheplace]

All your points are correct. Yes, a bit different from the mainland. Hope you are enjoying your home in Dorado.

[@gufiaito69able]

@@dorkladytravels so you sold the house?

[@robbycobbs5518]

Thanks for making this video.

[@soulcandyalmadulce5885]

I must say "BRAVO! magnificent you for the mannerism on certain comments. Your experience in this field did assist you even if some of it did not apply, still good. Outside of this, wishing your stay was pleasant and loving to you and your loved ones.

[@laurasmith9662]

Thank You Diane! Grateful this video : ) We are moving to Rincon this year! Just took dozens of notes from your video. Great Stuff Keep it up!

[@luzgarcia9705]

English is not the official language in Puerto Rico. This is a political bluff the official language is Spanish has been an will be, the PNP party did rise english as official, yeah like saying and writing down that the official langage in Mexico is english. really, just because you wrote it!! well you went to another country snd you expect to be like your country, really. Mainland? dont get it. Mainland is my land and yeah your land is your mainland!

[@jh-un9lj]

Puerto Rico is not a different country..

[@shirleydiaz2565]

@@jh-un9lj Right, Puerto Rico is not a different country but they do do things differently than on the continental US. I am of Puerto Rican descent and live in a major city and visit PR every year. There are major differences in how business is conducted on the island compared to the mainland. Diane is giving good info on her experiences and they are truthful. Some of the issues she addresses may not even be on our radar if we are from the states. I appreciate her videos, especially since I am planning on buying in PR in the future.

[@bumpyjohnson635]

Great video thanks

[@vivianaortiz9404]

English is not the official language of the archipelago of Puerto Rico.

[@Boricua_872]

Thank you,we will move back to PR in July ,we though about Dorado

[@showgirlsaroundtheworldada4484]

great vlog!

[@leadreviewer3257]

I lived in PR for 10yrs and it was great, i was on the southern side of he island.. I am very familiar with the Dorado area but for me i preferred being away from that side of the island. I have to say that i am Eager to move back to PR again i really cant wait, I think that this next time i will choose to move to the western side of the island into the hills which are beautiful and are only around 20 minutes away from some wonderful beaches and some very nice towns.

[@Thira333]

Yes, I met a mayor's gal, can't really complain, I'd do your own valuations though , this video's about sales to ballers, not your average 'merican, so may taste a bit uppity to most

[@Thira333]

@@dorkladytravels kzbin.info/www/bejne/a6nEq6WZaMSrp80, this may help!

[@kflecha1]

I love this channel so much 😄💛 she so right 😆 I often re-watch her videos looking for advice in real state so helpful. I’m Puertorrican but I’ve never purchase a home in the island I’m planning to do it is my country but I just laugh and cry at the same time because I know things can be like that 😅 I’m trying figure out the right way to do things in my island but it can be really challenging 😅😆 I’m so sorry for your experience 😢we are special 😅😃 PR need to fix few things around 😅😬 Thank you for sharing 🧡

[@dorkladytravels]

Best of luck with your purchase. Keep persisting, you'll get there!

[@ilastark7327]

I like your video and thank you for it. However SPANISH IS the official language- NOT ENGLISH- Some people speak English but is not our language, we learn it to help but don’t expect it everywhere

[@hananbabieh8665]

I'm in the process of buying a house in Rio Grande and there is no information on closing cost. do you have an idea on how they calculate closing cost?

[@Lady-br3zy]

Spanish is the OFFICIAL Language of Puerto Rico. So don’t assume or everyone has to even speak English. When in someone else home respect ✊🏽 their culture. How would you feel if someone came to your home and try to change your language, culture, and everything about it?

[@Milton-oe3jt]

Nique, I’m from the island and yes Spanish and English are the two official languages. This doesn’t have to do anything with culture.. nobody is trying to change your culture that’s in your heart. I speak 3 languages and I’m still puertorican and American by birth.

[@SuperRiius]

I completely agree!

[@riverafpv3311]

this woman trying to help people and from all she said you just catshat if English or Spanish official language,,,at this point it is shameful that almost no one speaks English ,,other colonies speak English and they do not get angry that they ask them to speak English, because if you have not noticed English it is the universal language to communicate in the world and the other colonies that receive benefits and citizens have implemented English as official, but since we only want the money and citizenship and all the benefits of being an American citizen, we oppose progress, so much so that we elect governors who do not know English, speaking English would be the best thing for you. I can go to Puerto Rico, so when a Puerto Rican has to leave the island he does not have to complain so much about English and get good jobs, don't you think it would be good? The official language does not mean that they will give you papao if you speak Spanish You can talk all you want, it means that Puerto Rican people are bilingual and can defend themselves wherever they want to go and it would be a great advantage to others by being bilingual.

[@gabrielamelendez6867]

Our official language in contrast of US that doesn’t have an official language, our principal language is Spanish. So you are the one with language barriers!

[@Notrocketscience101]

I’m trying to buy a house there, took 3 days just to get a call from the listing agent, after 2 weeks I still can’t get an approximation of the property lines, can’t get a return call from the bank...

[@JTS731]

??.. Im in awe as to why some of these real estate 'ways' of behaving and dealing are not illegal!?

[@LyeraTech2000]

great info thanks I'm thinking of a rental property in Puerto Rico I want to be close to the main airport or tourist area and I want a condo or townhouse, what do you think? maybe Pounce or Sanjuan?

[@Dreambigdreams1]

Hello, Great Informative video! Taking notes. Who did you use as your lawyer? Im looking to purchase! Thank You!

[@atilathesonofdanubius4277]

I loved this video since I'm contemplating buying in Puerto Rico. I was born there, but I have lived most of my life in Texas. I'll now be better prepared when buying. One thing I noticed when checking listings in Puerto Rico is that for a house that most likely will be condemned here in the US, the listing had the house at an unreasonable cost. Sometimes you know you are buying the lot, but it cost a lot of money to demolish a concrete house and haul off the trash to start from scratch. That said, I'm in love with the central mountainous part of PR and expect to buy there.

[@millielopez10]

If someone wants to buy elsewhere in the island can they use your people?

[@mgut1985]

hi, im sorry you went thru all that in PR, and just a quick FYI, English is not the main language in PR, spanish is, im sorry again that is what you thought. I hope and pray that you are now happier at your new home and that everything is working out :):)

[@t2stewar13]

Do you think the prices will fall in Puerto Rico

[@jayo3845]

It sounds like a lot of hoops to jump through. Is the short term rental market worth investing in down there?

[@fernandoosorio3842]

Hi Diane I am looking for a property in puerto rico and need a real state agent from there. Can you recomend me one? fernando

[@user-es9in4zt9s]

I am trying to purchase in p.r. , I have bad experience which the connections , to get wath I want....went there I'm back to u.s.a. still hart to find someone to direct me there....give me a suggestion?

[@christinedavid007]

can you refer the attorney you used?

[@jabneelhenry5301]

I am am puertorriqueña but grew up in Florida(still have family there) and married an "Americano" and we are interested in moving and buying a multifamily property ( and eventually buying 3 more multifamily properties to pass on to our children) but have no credit. How would we get started? I am conversationally bilingual.

[@GDarchivess]

Diane, thank you for such an informative and honest video. Not surprised this doesn't have more views. I will definitely share this to let your advice be heard. Honestly, we wouldn't get this from any local. I'm from Levittown which by now you should know where it is. I'll be moving back to PR once my time in the Marines is over. I hope you have more videos for when I return to the island.

[@germanlasala3949]

Thank you for your explanation. As a previous buyer in In the US, Puerto Rico experience was challenging at best. I couldn't understand why everyone under the sun was at the closing, and I grew up there! The other advice I can recommend is make sure you understand the probate structure on the island. We are preparing to look at some investment property there and your video was very valuable.

[@roberthamblin3883]

@@dorkladytravels What is different. I have heard that if your spouse dies they ignore the will and it goes to the deceased kids?? Is that true?

[@luisgordils6876]

Very well spoken, thank you. It was fun and informative listening to you. I enjoyed it very much. Currently looking to buy, I am of Puerto Rican descent but born and raised in the states so I learned quite a bit.

[@luisgordils6876]

@@dorkladytravels Hi Diane, I was hoping you could help me with a question I have. The website Tasamax you mentioned in your video has a 1 day pass for 9.99 for me to look up the potential property value of a home I’m interested in but….when I click over to payment page I noticed the website is not secured. Yikes! Is it safe to make payment on that site?

[@luisgordils6876]

Never mind, I found a work around to it. Page now directs me to a secured site for payment. Thanks anyhow

[@youtubecommentator9650]

Good Advice

[@wander1027]

As a puerto rican it has been very insightfull learning about the process of buying a house from a mainlanders perspective

[@wander1027]

@@dorkladytravels well at least for me, I do alot of my buinsess through the US mainland system (banking, credit cards, loans and investing), becuase there is more widespread information and poeple readily comment and compare services (many great resources such as reddit, youtube). I guess you can say this about alot of things outside of finance. So we may be exposed a great deal to the way US mainland conducts alot of their things but very little exposure from PR itself (at least on the internet) Its interesting to see how someone who has done real estate in US mainland can compare and contrast. Puerto Rico can be lagging so much in particular when it comes to money. Poeple will stay with a banks becuase "my family does". Systems are still archaic (I mean look at clasificados).

[@joeldiaz5857]

Im from states-- can i buy an apt for 100k cash and rent it out?

[@alaylaanajacks5647]

It takes hours to close on the mainland. It took us all day in Washington

[@NeidaNYC]

English is NOT the official language. Spanish is official language as of the federal court ruling.

[@louisvelez4905]

Great video; explains some things I encountered communicating with seller agents. I'm originally from P.R. but was raised on the mainland and possess moderate Spanish language skill. I've reached out to seller agents for listing info and never got a sense I was getting accurate info especially with respect to market value. As a result I've walked away from properties I inquired about. I've finally decided to search for a "buyer's advocate" meaning someone with a realtor's background or maybe a combination realtor attorney knowledge base.

[@deusdedidplumey9426]

What lawyer did you used? I need to recommend one to a friend.

[@elchicowhiteable]

That's why I always tell people go to Puerto Rico best vacations

[@elchicowhiteable]

Yes awesome food , USA money and no passport needed

[@dip60006]

Oh wow! That was basically the same as the experience I had with my husband! We bought a condo in Rio Grande next to the beach. The length of the closing was the thing that really took us by surprise.

[@freebird7339]

Super informative, and you seem so pleasant. Thank you! I am finally ready to soft retire, at 51, in Vieques. I appreciate your video, because it reminds me to assume nothing 🙂

[@roughneckrhodes6741]

Hi Diane . I have a question. I live is usa .how can i get a mortgage for home in Puerto Rico and continue to live in us . Is that possible . Also will I need a higher down payment.

[@shirleydiaz2565]

Hi Roughneck Rhodes, I just called a Cooperativa which is like a credit union and they said that if you want to buy a home as a primary home, they can lend 100 percent. If your primary home is somewhere else, then PR will be a second home and they can lend 80 percent. I did not try any bank yet.

[@FlipWithRick]

This is some great information Diane, I'm looking forward to watching more of your videos!

[@Tradesman1956]

Can you recommend a good realtor in PR or do You still handle it yourself ? I am in Isla Verde.

[@Tradesman1956]

@@dorkladytravels thank You, appreciate your recommendation and a Happy New Year !

[@candiceb_mat]

English is the official language on the Island??? So you impossed that to the boricuas too??? This was a spanish colony. And therefore their language is Spanish. Just because you americans came afterwards and seized it from Spain it doesn't mean they have to change their entire heritage to please your massive ignorance and laziness to learn a new language. Yet, you do take advantage of the low prices and low taxes rates. You come to the island to profit from it, so YOU start studying spanish and stop criticizing everything you don't like about them. You always have the option not to go there. I am not puertorican but i consider the way you address to all of their habits and ways to do things VERY disrespectful. You said in your videos that you lived there for 4 years, yet your spanish pronunciation is atrocious. Rather than saying: "you know, it's Puerto Rico" in such a derogative way, you should say: "you know, i'm an american, don't ask me for any kind of knowledge on other cultures or languages".

[@vicd12345able]

Any recommendations on what bank to use for 100% loan for a lot in Puerto Rico? I have a down payment but can't come up with the reminder untill I retire in 2 years. I would love to buy something now and pay it slowly but banks in PR only offer 30% loans to buy land.

[@dorkladytravels]

We liked First Bank for our home loan, but not sure who would be best for land.

[@vicd12345able]

@@dorkladytravels thanks...

[@miguelamedina2390]

Well articulated points and very informative. Hopefully you will return to live on the island soon. Take care!

[@miguelamedina2390]

@@dorkladytravels God Bless you and thank you so much for advocating the Island.

[@virginkayaktours2791]

We are currently looking to purchase a mixed use/commercial property in PR. We’ve only been looking in San Juan. Do you recommend any other towns to research?

[@cupcakesyary]

Is there any lawyers you recommend?

[@AngelADiaz-rg1gt]

Thank you maybe I will bye a house in Carolina close to the airport. Thank you.

[@JoTokutora]

You could have just used PenFed and saved a lot of your headache finding the mortgage. PenFed is the Credit Union for the Pentagon.

[@videowaves1801]

A little note about inspections. When I sold my condo in North New Jersey about 10 years ago, I decided to stay home when the buyer's inspector came by with the buyer. The inspector was highly respectable and highly recommended by the town people per my agent. I couldn't believe all the lies this man would make up as he went along looking at appliances, furnace, etc. For example I had bought and installed a brand new water heater from Home Depot a month earlier. I wrote the date of purchase on it in big letters. He actually said in front of me that the water heater was about to die and needed to be replaced asap. I immediately said the water heater is brand new, I just bought it a month ago. He acted as if I wasn't even there. And then went on to say everything that was wrong with the HVAC system but the only thing is that there was NOTHING wrong with it. It was old yes but worked just fine. So that little jerk delayed my condo sale for a good 3 months bc the buyer who was some sadistic F, wanted me to fix everything the guy said and would not believe me even with proof that the inspector was lying. So lesson learned here is there are crooks with very good references and many titles everywhere.

[@FreedomofSpeech865]

That is an unusual experience and I’ve bought a house in NY and NJ, both older homes. Different inspectors who were realistic.

[@kafn0912]

Disrespectful comment: "it's Puerto Rico!" . It sounds like "hey there is not a lot that you can get done here"...Real Estate transactions are obviously not the same everywhere.

[@allenpetebenedetti6160]

good video. i bought my property from HUD Homes which at least the buyer seller agent both got a commission and the process was easier but still confusing lots of blind dumb luck on my part

[@allenpetebenedetti6160]

@@dorkladytravels this was my first go around in the process- the buyer agent is the only one who can present/write an offer (at least in PR that was the case) and the seller agent can't represent both parties for HUD sale. I can't tell you what HUD does behind the scenes to determine which properties it approves but i can say it felt safer to avoid the "gotchas" in PR you talk about in your other video. i am very novice so very little advice but hope that was insightful with my experience.

[@nesq4104]

@@allenpetebenedetti6160 how much under asking price did you offer hud?

[@juancarlosmartinez6045]

Great information Diane, I glad your channel is growing up. I like PR, and I can also see the potential in real state there. Saludos desde NYC.

[@keith8359]

Yo Gurl!! Great video BUT what about TITLE INSURANCE

[@mimib.9668]

Awesome videos on PR real estate! Do you still own there? If not, how was it to sell the property?

[@lebron6theheat]

English is not the official language of the island. We are fluent at it, in some areas more than others, but it’s not the offical language.

[@irisroldan-garcia805]

Wow ! Wikipedia the most reliable site to learn.

[@lebron6theheat]

@@irisroldan-garcia805 Yeah she is using the best source of information (sarcasm). I live day to day on the island, born and raised, and know for a fact that english is given to us at an early age as a secondary language. In the more touristic parts of the island most people are fluent, but not even half of the Island are fluent speakers. Maybe in the future it will make it's improvements and people will be speaking it on the most parts of the island, but right know I strongly disagree.

[@mrperez7036]

Diane did you quote wikipedia in an effort to add more insult to injury? Don't you think you owe an apology for providing wrong information. As an attorney let me clarify that there is no way that English can be the official language in Puerto Rico when English is not even the official language in the United States. It is only the most common language in the United States. Please do your research when making statements as facts.

[@mrperez7036]

because?? @@theraptureisnearbelieveinj448

[@heru-deshet359]

I have an "IN" with PR friends and in-laws.

[@silvertheboss3351]

Hey do you still live in Puerto Rico. I live here and I can find some nice cheap house for sale. Let me know please

[@JoshIsOnAMission]

I'm a real estate agent in PR and agree with you! Especially, in PR sellers will sell "as is", very often they don't want to fix x or y thing before selling, which is a shock to a lot of ex-pats.

[@JulioCesarMoreno71]

Call me Josh 562-556-2455

[@user-wu8lk1cb2k]

Mainlanders living in PR are not expats!

[@nesq4104]

Expats in PR = white people who think pr is not part of usa

[@plamoretti673]

@@user-wu8lk1cb2k Yes, they are.

[@millydiaz6277]

Can you share your attorneys name and office location I'm looking to purchase a home I'm actually from PuertoRico but I have had some bad experiences so I don't trust anyone

[@tornadotorresrivera2838]

Hi Diane! Great video. Thanks for the info. I'm getting ready to move back to the island and would like to buy a house. I want to know how is the process of transferring the funds from a Bank in the main land to the island to complete the purchase. Thanks again!

[@dorkladytravels]

We wired the funds, and it was a pretty straightforward process as I recall.

[@tornadotorresrivera2838]

@@dorkladytravels 😎

[@lilflexlewis5802]

New subscriber

[@DavidWangstoryteller]

Who's the real estate attorney that you guys found to be trustworthy? Thanks.

[@dorkladytravels]

Waleska Colon: 787-843-4168

[@jillkline3647]

This is getting filed! This is so helpful!! THANK YOU! THANK YOU! THANK YOU!!! I've been following your PR videos for quite a while. Buying in PR is our plan in the next 5-6 years. By then I'll be retired, (my husband is already) and we'll be ready to be snowbirds and wintering in PR. We've wavered on the type of home we want (condo vs single home) and I really want to have a firmer plan before we begin to look. Location is another thing we've changed our minds on. We originally were focused on Dorado area but we when we were there last (Dec 2018) and stayed in that area (actually out on the coast from where your home was, we were at Aquarius Vacation Club next to the Embassy Suites at Dorado del Mar), we had awful traffic. As opposed to my husband, I think we'll have that traffic at certain times of the day no matter where we are. I think we hit it just the wrong time from the airport and I suspect that no matter where we'd be, there's a rush hour traffic time period. But, that experience has opened us to looking in other areas of the island as well. One question: Our plan is to pay mostly (if not all) cash for a home. Will we have the same or different issues than outlined here?

[@Thira333]

@@dorkladytravels Do you imagine an attorney directory exists ? That's the elephant in this room....

[@Thira333]

@@dorkladytravels there is not one ; asking around did not corroborate your narrative

[@Emma-LeBonCafe]

Hi Jill please rent before because the puerto rican are very very and very loud and they live the front door open with the tv on very loud, and from your balcony or porch you will hear the tv and cel conversation super loud. So please if you buy before it will be hard to sell yale yala it would be nice if you start visiting for 1 week at the time before you move for real good luck.

[@ericmerchant3646]

We did buy a property in Puerto Rico this last winter. I referred to a lot of your information during the process. We found a property on Zillow and reached out to Jorge De Jesus at Dorado Law and he was extremely helpful! He helped us through the entire transaction all the way to closing. We purchased an abandon place near the water in Vega Baja that was bank owned. Dorado Law did great and was able to find all the paperwork needed to show it was a clear property with no liens or hidden surprises. I’m not sure what we will do with the property short term as it needs a full renovation but we have enjoyed our visits to the area

[@nesq4104]

Have you completed your renovation? Was it worth buying?

[@ericmerchant3646]

@@nesq4104No, not completed yet. We have not been able to get back to the island with the pandemic. Hopefully once all of this clears, we can get back. Our Neighbor has been keeping up the yard for us and sending me pictures though. As for if it was worth it, I think that all depends on what makes it worth it to each person. I know for us, it was not expected to be an "investment" but we really enjoy the island, the people and the climate. We want it to be a place for us as well as friends and family to enjoy

[@nesq4104]

@@ericmerchant3646 yes. I really hope everything works out for you so you can live your dream. This pandemic/economic really sucks. I am hoping eventually I can love to PR at some point if the stars align

[@realdeal139]

Great tips! This was very helpful. 🙏🏼 would you happen to know of any reliable contractors? I’m looking to build a beach front property and any suggestions would be a great help. Thanks.

[@realdeal139]

Diane Cohn thank you so much Diane! 🙏🏼. Very much appreciated.

[@DIAMONDGIRL57]

Thank you!!! Thank you! Thank you!!! I am strongly considering retirement in PR in a few years. I still have so much to learn.

[@vivianmerced358]

English is not the official language. On my island it’s spanish

[@dorkman135]

English is not the official language in Puerto Rico.

[@ecomtomcat]

PR has the worst listings of anywhere, missing info, wrong info, listings with 3 crappy photos. And alot of the houses are garbage too, here's an average listing: 1,100 Sq ft 1 bath, 5 bedrooms, 2 car spots. And all the other stuff you mention. It's like the RE market is 30 / 40 years behind the US. The only decent listings are for the $450k and up homes. As for agents there not using the MLS much, it comes from a scarcity mindset, I think.

[@mastifflover504]

My wife and I are moving to Puerto Rico for the Act 20/22. We were hoping we could possibly meet up with you and your husband for lunch/dinner. Are you guys gone?.... or still keeping up your 51% status? Either way, if you're not up for company, no worries.

[@mastifflover504]

Diane Cohn I think there’s a an Facebook group that requires that you already have your Act 20/22 status before they accept you into the group, but we are a part of an HOA page for a community near Humacao that has a large number of “mainlanders”. We will probably do our reconnaissance trip in the first few months of next year. We have 2 huge Mastiffs (one is 226 lbs) that can only be brought by boat from Miami, so it will be a huge commitment to make the move... and because of our huge dogs, we probably won’t be able to “snowbird”.

[@mastifflover504]

Diane Cohn Yes, Palmas Del Mar seems to be where we think we will be moving to, but when we visit I was hoping to talk to mainlanders that did not choose Palmas Del Mar so that I could hear another point of view. I feel like we can’t get as much information on the Dorado community... and the Candado/San Juan area doesn’t seem to have as much of a self sustaining gated community as Palmas, or maybe Dorado which doesn’t have as many resources online for us to research. Thanks for the link. I will check it out.

[@mastifflover504]

Thanks for that information. Yeah, we kind of want to be a little ways away from San Juan, but still close enough that when we want to drive there it doesn’t seem daunting.

[@nmwnomatterwhattimewilltak8608]

@@mastifflover504 Even though Dorado has nice real estate I never liked it bc it feels too hot for me. If I moved back I think I would look into property near El Yunque rainforest in either canovanas or Rio Grande or Carolina mountains with land and a gorgeous view of the ocean. It is high up there and colder than in most places near the coast while still being about 10 miles from the coast but high up. The only problem is also the two lane roads to go up there sometimes with horses taking the lanes and you having to go around them in zigzagging curvy roads. Nothing is ever ez right. Also if checking out Carolina check the mountains, not the valley. The mayor of Carolina really takes good care of civil services (garbage, road work, beautification, etc) not like the neighboring town of Canovanas. Carolina is big covering the Isla Verde beach, Piñones area, the Luis Muños Marin airport to the mountains in the background which you can see when you land if you are on the right side of the plane. So focus on the mountains closer to Canovanas, if you wanted to check it out. I realize my response may be too late by now.

[@bigbronzespider]

… and I completely agree with all of this. Great information.

[@ecortes0929]

Great information thank you! However some people here are in there feelings. LOL I didn’t take it personal.

[@ecortes0929]

Diane Cohn I was born In Puerto Rico and been living in the states for 33 years. I’m seriously considering moving back to Puerto Rico.

[@brneyez179]

My grandparents have an abandoned property in PR. I have the deed to the property. The children that are still alive would like to sell it. But the main problem I see...my grandparents listed too many people on that deed.🙄...some of the children are deceased, divorce there's even boyfriends on that deed. I don't know how to proceed

[@nmwnomatterwhattimewilltak8608]

Whoever is in that deed you need their signature to do anything and if they are deceased you need the signature from their descendants meaning children or surviving spouse. That's a tough one, especially if you are afar.

[@chrismoore2837]

As someone about to start this process, this was eye opening, thank you for posting!

[@vivianmerced358]

English is not the main language on my island it’s spanish

[@raylinecardoso5609]

I am a Realtor in Massachusetts looking to purchase in Puerto Rico . I am fluent in Spanish but my spouse dose not speak Spanish . I am in the beginning process of searching for lending . Would you mind sharing your lender with me ?

[@dorkladytravels]

First Bank

[@scottlapointe3201]

Great video. I read your article on Linkedin also. I am in process of buying a house now in Vega Alta. I love the Dorado/Vega Alta area. Your information really helped in being more prepared for this process.

[@samsantos3923]

Great content, Have a question, what is the common way of taking title in P.R. for a married couple, Joint tenant , or a living trust, are these options available in P.R.? Thank you Diane.

[@er5650]

HI dear... I'm looking to buy in PR.. no luck so far...

[@er5650]

@@dorkladytravels not only that but the inventors is trying to sell in gate communities but what is not built yet. That's the hard part plus they place u know waiting list.. well I'm kool with that nut can't wait to move to PR.. so I do agreed with friend...keep up good work. I just wait patiently until something comes around and I did saw other homes but they were under contract then when deal doesn't go.thru as I saw one Seller /owner had 6 offer : I was the 6th but he wanted to much for a damaged home.. I disagreed with him n I move on.. so no rush.. be safe !!!

[@Dreambigdreams1]

Hello, Hope all is well! Thanks for the useful information! Who did you end up going with as far as the lender is concerned? Also any recommendations for the inspector? Thanks!

[@dorkladytravels]

We used First Bank. I'd check with a local real estate agent for a good inspector recommendation as I believe ours is no longer in business.

[@tiffanysimpson-crumpley6502]

Thanks so much for this informative video. We literally just came back from Puerto Rico and want to purchase a multi-unit property that can double as our vacation home/short-term rental. We are looking in Carolina. Would you have recommendations for a lawyer and lender? We actually met a agent at laundromat during our stay and plan to reach out to her, but I’d like as much information as possible under my belt before we engage her.

[@dorkladytravels]

wildeye.com/?talktous

[@johnny-b-me]

Hi would you be willing to DM me your lawyers info that you used in you buying experience we are set to go in February to start the buying process

[@johnny-b-me]

@@dorkladytravels Awesome thank you so much and thank you for a very informative set of videos .... Cheers

[@nanimoniz]

PenFed is a mainland bank that does banking here in Puerto Rico and the states. They have great rates and are typically lower on the island than the posted US rates. Their hours are ridiculously good too. Banco Popular is the main bank used here. It is good to have to use ATH Movil to pay people.. rent, lawnmowers, some restaurants etc.