Apartment Traspaso in the DR: What It Is and When It Is Risky

Leidy saw an ad: "Apartment traspaso in Santo Domingo Norte, just the entry payment." The price was attractive. What she did not ask was how much was left to pay the developer, or whether the developer accepted a change of buyer.

A traspaso (transfer of a purchase position) can be a good opportunity or an expensive problem. It all depends on what you check beforehand.

What a traspaso is

In the Dominican market, "traspaso" usually means that a person who already signed a promise-of-sale contract with a developer, and is paying in installments, hands their place to someone else. The new buyer takes on what has been paid and what remains.

Important: normally there is no title in the name of the person transferring. What is transferred is a contractual right, not registered ownership.

Why people offer them

Change of plans, need for cash or inability to keep paying. Sometimes the price is attractive for that reason. But someone wanting to leave quickly is also a signal to review things calmly.

The main risks

• The developer does not approve the change. Without written consent, the transfer may be invalid.
• Payments not reflected. The seller says they paid an amount, but the receipts do not add up.
• Debts or penalties for late installments, which pass to the new buyer.
• Selling the same right to several people.
• Project problems. If the project has delays or lacks permits, you inherit them. See the hidden risks of pre-sale purchases.

What to request before paying

1. The original promise contract and all its annexes.
2. A statement issued by the developer, not by the seller, showing what has been paid and what is pending.
3. A signed letter or document from the developer approving the transfer and registering it in your name.
4. How much the developer charges for the transfer process, if anything.
5. The project's legal status: land, permits and whether a trust exists. Read real estate trusts (fideicomiso) in the DR: what they are and when they help.
6. Review by your own lawyer before handing over a single peso.

How to pay safely

Pay directly into the account the developer designates, or against signing the assignment document. Avoid handing cash to the seller "to move things along," and keep every receipt.

If you prefer something already finished and titled, see apartments for sale in Santo Domingo.