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Since Puerto Rico is a United States territory, it falls under the US court system and we conduct trade using the US Dollar. The biggest difference tends to be that the notary who drafts and registers the Deed of Sale must be a practicing attorney and a member of the Colegio de Abogados de Puerto Rico, or the Puerto Rico Bar Association. Fees for the notary range between 0.5% and 1.0% of the sale price and are typically paid for by the seller, although this can be a negotiated term.
Yes! We have several trusted English-speaking lawyers that we can refer you to. Just ask!
Of course! Not only do we have the experienced team and support staff and documentation necessary to conduct a sale, but we leverage our market knowledge and sales savvy to get you the highest possible return on your sale. We work alongside you to eliminate the noise, bringing only qualified buyers who have been vetted by our staff in order to let you sit back, and relax while we go about doing the hard work necessary to get your sale completed as quickly and as smoothly as possible.
The seller typically pays for the notarization of the Deed of Sale and any cancelations of their mortgage. The buyer pays the fees and internal revenue stamps on their mortgage, the notarization of their mortgage (0.5% of face value) , the cost of the certified copy of sale with stamps and vouchers for registration, and closing costs required by the financial institution (if applicable).
We at Clubhouse, in accordance with Law No. 93 of May 16th, 2006 recommend a physical inspection of every property prior to purchase by a professional inspector, duly certified by the Commonwealth of Puerto Rico. We have several that we can refer you to. Just ask!
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