Don't let you money blow away.
SANTO DOMINGO.- The Central Bank warned Friday on fraud against mostly European foreigners, though bogus real estate sales and Time Sharing vacations, using its logo and that of the Finance Ministry, and the fake signatures of officials.
"These transactions, conducted under the name of fake real estate companies and law firms, identify people interested in selling their properties and time sharing vacations via the Internet, and then contact them to negotiate the sale," the Central Bank says.
In a statement posted on its Web site the entity said the swindlers obtain personal data from the proprietors who send the money through Dominican banks or money transfer companies to pay the taxes Dominican law requires, by telling them that the sale won’t advance until the money is received.
"Once the demanded money is sent the swindlers tell the owner that the person who received the money has disappeared and that the authorities are trying to locate them, but the process takes time for which they must send more money to conclude the process already begun," the warning says.
From: Dominican Republic, No Spin Zone
Swindlers and shysters here in the DR ?........I am shocked shocked
From: Dominican Republic, No Spin Zone
we are becoming Naples of the Caribbean for the amount of scams and swindles that occur here
From: United States
beware of fraudes....especially scams done by central bank workers who set up fake real estate sales.
Written by: xwill7, 12 Mar 2010 12:22 PM
From: United States, El cuarto bate
blu,
you are selling a condo worth 100,000USD for one million USD?
From: United States
Your whole country is a scam.
At any time someone can come and say they have title to you property.
This isn't one sector of the DR where nepotism and transparent corruption does not abound.
Written by: abc200, 12 Mar 2010 12:44 PM
From: United Kingdom, Dominican Republic
In the UK I hve tended to use a conveyancing ( title transfer ) company rather than a lawyer. These companies are efficient, provide documentation in an orderly manner and can be sued, are large enough not to disappear. In addition each seller must produce a sellers pack with a number of documents. Because of volumes charges are low - from 150 dollars for a simple sale or purchase.
If Reservas were to set up such a company and the government advise people to use it a lot of problems could be avoided.
S.
Written by: xwill7, 12 Mar 2010 12:50 PM
From: United States, El cuarto bate
abc,
that is not a sure method in DR
Written by: abc200, 12 Mar 2010 12:57 PM
From: United Kingdom, Dominican Republic
No it is not possible at the moment. It would need the government bank to set a company up as I have commented.
As of now al I can relate is my experience.
gm - that is not true. If there is a deslinde and a properly registered title, or if there is a registered condo agreement and chain of sales. If the title is not complete then it is possible to make a deposit with the solicitor with the balance payable when all documents in order. As in the UK and elsewhere read all the documents carefully ; take time; consult another solicitor if in doubt; check all names and identities including the solicitor. Title insurance is of course available in the DR from Stewart Title and others of good international standing and fees in DR are moderate compared with other countries.
S.
Written by: xwill7, 12 Mar 2010 1:04 PM
From: United States, El cuarto bate
abc,
there will always be a few bad apples that will always accept the under the table cash... I don't see that changing unless they can get into big trouble for scams
Written by: abc200, 12 Mar 2010 3:16 PM
From: United Kingdom, Dominican Republic
Progress is being made - central titles office etc. With respect, under the present system scams are too easy.is my opinion only and the situation could be improved if conveyancing were limited to properly licensed and insured companies of more than 10 people and with capital backing. I understand that insurance of conveyancing is being implemented. But the principle holds that more care will be taken by a government or big organization where many people - directors/shareholders etc. have a lot at stake and cannot 'disappear' and can be sued if it shown they have not followed professional guidlelines. It used be quite common for funds to go missing etc. in the UK and in the last 20 years new laws have been implemented that make the process easier and quicker for the consumer and really eliminate the possibility fraud/misrepresentation etc. This problem I have seen also affects many Dominicans who cannot establish clear title to land easily.
S.
Written by: danny00, 12 Mar 2010 5:56 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
have the answer for this problem.
dont buy anything in the dr.
Written by: danny00, 12 Mar 2010 6:11 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
GMILLER VERY GOOD AND TRUE COMMENT
Written by: gmiller261, 12 Mar 2010 12:24 PM
From: United States
Your whole country is a scam.
At any time someone can come and say they have title to you property.
This isn't one sector of the DR where nepotism and transparent corruption does not abound.
HEY! IM DOMINICAN AND I WOULD NEVER BUY ANY LAND OR HOME IN THE DR.
U REALLY HAVE TO BE STUPID TO DO SO. KNOWS KNOWS AND ITS HAPPEN MANY, MANY, MANY, TIMES IN THE PAST WHEN SOME GUYS SHOW UP TO THE HOME U HAVE BOUGHT AND THEY START SCREEMING "YOUR ON MY LAND" THE OTHER PEOPLE SHOULD HAVE NEVER SOLD IT TO U....
BUY MY HOMES IN MIAMI.....
NOT IN THE DR "SMOKE AND MIRRORS."..... WHERE NOTHING IS FOR REAL AND I MEAN NOTHING.
Written by: danny00, 12 Mar 2010 6:14 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
At any time someone can come and say they have title to your property,
and this is what happens many times each week in the dr.
dont u understand these people cant or dont know how to make a living but to STEAL FROM OTHERS.
but i also believe they also feel good inside when they rob or steal from someone
they like to BRAGG ABOUT IT.
they become heros for the young.
Written by: danny00, 12 Mar 2010 6:17 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
there will always be a few bad apples ,
BE NOT THAT BAD IF ITS WAS ONLY A FEW.
SORRY TO REPORT THAT THE WHOLE BUNCH IS ROTTEN TO THE CORE.
Written by: danny00, 12 Mar 2010 6:20 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
also if u buy one condo in santo domingo u really dont know who your living next door to.
one one side its the police chief and the other condo next to u is the drug dealers.
bet u 90% of the apts are like this in santo domingo.
Written by: Juango, 12 Mar 2010 6:33 PM
From: United States, far S. Florida (formerly Santo Domingo)
danny, you are spot on with your comments. Rotten to the core indeed. Buyer beware always. It doesn't matter how good an attorney you have, the worms (scammers) always will come out of the woodwork and cost you not only heartaches/headaches but $$$$ with sleepless nights !!! Best advice, buy in another country. Rents are inexpensive enough in the DR, perhaps that is the way to go for your Caribbean Lifestyle.
Written by: xwill7, 12 Mar 2010 6:40 PM
From: United States, El cuarto bate
this does not happen everywhere in DR, many people in my family own tons of land... I would say that small towns are better to buy in since everyone knows eachother...You have to be extra carefull and be willing to take the risk...
Written by: eugenia1, 12 Mar 2010 6:58 PM
From: United States, miami
i am no excusing this people action, but here in the us is many bad apple to starting sense the Indian American where rob and expelled from they land. i hate tiff very much but if you read the news that is in every country not to long ago someone i know was sold fake insurance here in America also other where renting properties that did not belong to them
Written by: Grosero, 13 Mar 2010 10:52 AM
From: United States
WHAT....
Swindlers and shysters here in the DR ?........
I thought it was only reserved for Cost Rica?????
Then there crooks are every where
Written by: abc200, 13 Mar 2010 11:24 AM
From: United Kingdom, Dominican Republic
certainly the whole country is not a scam. It is one of the premier places in the World to live combining excellent climate, high level of amenities, excellent local food, superb natural beauty, low cost of living, excellent communications hub and friendly people. True there are, as in all countries the down at heel areas on the margins.
http://www.hungerreport.org/2010/....t/on-the-margins-in-urban-americaYes, we can all move to Lichtenstein? With the highest domestic product per pesrson in the World! Or the BVI?
http://en.wikipedia.org/wiki/LiechtensteinBoth Domincans and ex-patriates find it a good environment to start a business with a wealth of opportunity.
Yes be careful on property transfer but it is not as bad as some people like to make out - perhaps they are real estate agents for Florida? Returns can be far better in the DR with 10% per year appreciation typical.
S.
S.
Written by: josean, 13 Mar 2010 8:01 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
Oh Bernie Madoff if only you had committed your crimes in DR.
You could still be going out on the weekends to the finer restaurants with the Misses!
We treat or wealth thieves so well!
Irregular
Aseguran ven a Pedro Castillo en restaurant; Prisiones investiga veracidad de salida
La denuncia fue difundida en el Programa del periodista Huchi Lora, que se transmite por CDN radio, y en el Periódico 7 Días, informando que supuestamente el mencionado interno Pedro E. Castillo había sido visto el pasado fin de semana en un restaurant en el ensanche Evaristo Morales.
http://www.noticiassin.com/www/?g....y_article&aid=14057&tid=4From: Dominican Republic, No Spin Zone
Do not buy used cars from Josean ......they were stolen from the owners while he was washing them in the IKEA parking lot .....Buyer beware your money will be used for hookers and drugs and various election scams
Written by: josean, 14 Mar 2010 8:26 AM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
"money will be used for hookers and drugs and various election scams"
Not all of us share your vices!
Written by: Vivacuba, 14 Mar 2010 8:09 PM
From: Dominican Republic
It spreads quickly from the north, heah?
Written by: Vivacuba, 5 Oct 2011 12:24 PM
From: Dominican Republic
Just pass them the US Dollars. They are all counterfeit from Ben Bernanke. Don;t send them legitimate local currency.
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you are selling a condo worth 100,000USD for one million USD?
Your whole country is a scam.
At any time someone can come and say they have title to you property.
This isn't one sector of the DR where nepotism and transparent corruption does not abound.
If Reservas were to set up such a company and the government advise people to use it a lot of problems could be avoided.
S.
that is not a sure method in DR
As of now al I can relate is my experience.
gm - that is not true. If there is a deslinde and a properly registered title, or if there is a registered condo agreement and chain of sales. If the title is not complete then it is possible to make a deposit with the solicitor with the balance payable when all documents in order. As in the UK and elsewhere read all the documents carefully ; take time; consult another solicitor if in doubt; check all names and identities including the solicitor. Title insurance is of course available in the DR from Stewart Title and others of good international standing and fees in DR are moderate compared with other countries.
S.
there will always be a few bad apples that will always accept the under the table cash... I don't see that changing unless they can get into big trouble for scams
S.
dont buy anything in the dr.
Written by: gmiller261, 12 Mar 2010 12:24 PM
From: United States
Your whole country is a scam.
At any time someone can come and say they have title to you property.
This isn't one sector of the DR where nepotism and transparent corruption does not abound.
HEY! IM DOMINICAN AND I WOULD NEVER BUY ANY LAND OR HOME IN THE DR.
U REALLY HAVE TO BE STUPID TO DO SO. KNOWS KNOWS AND ITS HAPPEN MANY, MANY, MANY, TIMES IN THE PAST WHEN SOME GUYS SHOW UP TO THE HOME U HAVE BOUGHT AND THEY START SCREEMING "YOUR ON MY LAND" THE OTHER PEOPLE SHOULD HAVE NEVER SOLD IT TO U....
BUY MY HOMES IN MIAMI.....
NOT IN THE DR "SMOKE AND MIRRORS."..... WHERE NOTHING IS FOR REAL AND I MEAN NOTHING.
and this is what happens many times each week in the dr.
dont u understand these people cant or dont know how to make a living but to STEAL FROM OTHERS.
but i also believe they also feel good inside when they rob or steal from someone
they like to BRAGG ABOUT IT.
they become heros for the young.
BE NOT THAT BAD IF ITS WAS ONLY A FEW.
SORRY TO REPORT THAT THE WHOLE BUNCH IS ROTTEN TO THE CORE.
one one side its the police chief and the other condo next to u is the drug dealers.
bet u 90% of the apts are like this in santo domingo.
Swindlers and shysters here in the DR ?........
I thought it was only reserved for Cost Rica?????
Then there crooks are every where
http://www.hungerreport.org/2010/....t/on-the-margins-in-urban-america
Yes, we can all move to Lichtenstein? With the highest domestic product per pesrson in the World! Or the BVI?
http://en.wikipedia.org/wiki/Liechtenstein
Both Domincans and ex-patriates find it a good environment to start a business with a wealth of opportunity.
Yes be careful on property transfer but it is not as bad as some people like to make out - perhaps they are real estate agents for Florida? Returns can be far better in the DR with 10% per year appreciation typical.
S.
S.
Oh Bernie Madoff if only you had committed your crimes in DR.
You could still be going out on the weekends to the finer restaurants with the Misses!
We treat or wealth thieves so well!
Irregular
Aseguran ven a Pedro Castillo en restaurant; Prisiones investiga veracidad de salida
La denuncia fue difundida en el Programa del periodista Huchi Lora, que se transmite por CDN radio, y en el Periódico 7 Días, informando que supuestamente el mencionado interno Pedro E. Castillo había sido visto el pasado fin de semana en un restaurant en el ensanche Evaristo Morales.
http://www.noticiassin.com/www/?g....y_article&aid=14057&tid=4
"money will be used for hookers and drugs and various election scams"
Not all of us share your vices!