Two contracts, two purposes

DR purchases almost always involve a Promesa de Venta first and a Contrato de Venta later. Understanding the difference saves money and prevents nasty surprises at closing.

Promesa de Venta (Promise to Sell)

This is your reserve-the-property contract. Signed once buyer and seller agree on price and terms, before due diligence is complete.

What it commits you to:

• A 10-15% deposit (refundable if title issues are found)
• A timeline to close (usually 30-60 days)
• Exclusivity. Seller can't show or negotiate with anyone else

What it does NOT do:

• Transfer ownership
• Require full payment
• Override later title-clearance findings

Most DR purchases use a Promesa first. It buys you the time to do title search, survey, and any other due diligence without losing the property.

Contrato de Venta (Final Sale Contract)

The deed-equivalent. Signed at closing when all conditions are met. Title transfers, full price is paid, and registration with the Title Registry begins.

What you bring:

• Balance of purchase price (typically wired same-day)
• Cleared due diligence
• All apostilled identity documents

After signing: roughly 30-45 days for the new Certificate of Title to issue in your name.

When the Promesa is skipped

Some all-cash, low-complexity transactions go straight to the Contrato de Venta. We don't recommend this for foreign buyers. The Promesa is your protection against finding problems mid-purchase.

What an experienced attorney negotiates into the Promesa

• Force majeure clauses (hurricane, illness)
• Deposit escrow with the attorney, not the seller
• Specific deliverables required from the seller (HOA letter, IPI receipts, etc.)
• Penalty clauses if the seller backs out

We work with two DR real estate attorneys whose Promesa templates have been battle-tested through 200+ closings. If you want a copy of the standard template for review, ask on your first call.