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Frequently Asked Questions

You can use this guide to familiarize yourself with the most asked topics regarding real estate and our company

At Sunset Real Estate, we offer condos, villas and townhouses. Whether you're looking for a family home, an investment property, or a luxury beachfront retreat, we have something to suit every need.

We specialize in properties located in the most sought-after destinations, including:

  • Dominican Republic: Punta Cana, Cap Cana, Las Terrenas
  • Mexico: Tulum
  • Dubai: Downtown, Dubai South, Palm Jumeirah and more.

The time frame varies depending on the complexity of the sale, but typically, the entire process can take between 30 to 60 days. In some cases, such as with off-plan or newly developed properties, it may take longer.

Yes! Foreigners can buy property in both countries with the same rights as local citizens. There are no restrictions on foreign ownership of real estate in the Dominican Republic. In Mexico, foreigners can own property in the restricted zones (near the coastline and borders) through a legal mechanism called a fideicomiso (bank trust).

A fideicomiso is a bank trust that allows foreigners to own property within restricted zones, such as coastal and border areas, while maintaining full ownership rights. The bank holds the title on behalf of the buyer but you, as the buyer, have full control and can sell, rent, or pass the property to heirs.

When purchasing a property, you should budget for:

  • Legal fees: Typically around 1% to 2% of the property price.
  • Closing costs: These include notary fees, taxes, and registration fees, which can range from 3% to 5% of the purchase price.
  • Property transfer tax: In the Dominican Republic, it is around 3% of the property’s appraised value. In Mexico, it varies by state but is generally between 2% and 4%.

Yes, we strongly recommend hiring a local real estate attorney to help with due diligence and ensure all legal aspects are covered. We can recommend trusted legal professionals with extensive experience in real estate transactions in both the Dominican Republic and Mexico.

No, the purchase is made in Mexican pesos (MXN), which is advantageous due to the favorable exchange rate with the Canadian dollar (CAD). Prices are displayed in USD for reference, as it is the standard international currency for real estate.

Yes, as a property owner, you have access to a condo rental management service that enables you to generate income remotely with up to a 7% ROI. The service also includes maintenance and full control over your unit.

No, this is not a time-sharing arrangement. We do not engage in time-sharing models.

Dominican Republic

We have a partnership with Scotia Bank in the Dominican Republic. It enables our foreign buyers to qualify for financing of up to 40% of the purchase price upon completion of construction. The developer offers an interest-free progress payment plan until delivery. The basic terms are:

  • 5000 to reserve your unit
  • 20% of unit price following contract signature
  • 40% during construction (in stages)
  • 40% upon delivery.

The majority of our customers will refinance a property in Canada to free up cash or simply acquire it without financing. It should be noted that it is also possible to refinance the property after delivery, and that Scotia Bank can do this with up to 70% of the property's value.

Mexico

The developer offers an interest-free progress payment plan until delivery. The basic terms are:

  • 2500$ to reserve your unit
  • 30% of unit price following contract signature
  • 40% during construction (in stages)
  • 30% upon delivery.

The majority of our customers will refinance a property in Canada in order to free up cash or simply acquire it without financing. It is possible to finance the amount payable on delivery with a Mexican bank, but interest rates are excessively high.

You take possession when your unit is ready. The project is delivered in phases. For example, the Aldea Savia community is already 50% occupied. You can also purchase in the final phase, with deliveries scheduled for 2025 and 2026

 

  • Mexico - Furniture is not included, but we offer three affordable furniture packages to suit your needs.
  • Dominican Republic - Some projects come furnished, while others do not.
For more information, we recommend contacting our advisors, who can provide detailed explanations.

Yes, absolutely! We can refer you to our list of Airbnb rentals within the Aldea project, allowing you to experience the community firsthand before buying. It's managed by 5-star hotel chain.

Yes, property taxes apply in both countries:

  • In the Dominican Republic, an annual property tax of 1% is levied on properties valued over DOP 7,710,158 (approx. USD 135,000). We offer a 15-year tax exemption under the CONFOTUR program when you purchase property with us.
  • In Mexico, sales tax is only 3% or 3.3% in Cancun

If you have more questions, you can get in contact with us!

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