I wish I'd Known This Before Buying a House in PUERTO RICO

Learn the 7 pitfalls to look out for when buying real estate in Puerto Rico. It's a buyer-beware, wild west environment.

Here are the points covered:

1. You need to understand Puerto Rico’s inheritance laws before purchasing property.

2. Notary fees are required by law, upon loan origination and when debt is retired, and these fees can really add up.

3. One title search is not enough.

4. Consider putting your deposit into an escrow account with your attorney.

5. Home inspections can be very superficial.

6. Beware of the homeowners association issues.

7. You can buy homeowner insurance in Puerto Rico, but don’t expect them to actually pay out on insurance claims.

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--------------📝 NOTES --------------

Opinions on this channel are from our own experiences buying and selling property in the US and Puerto Rico and are for information/entertainment purposes only. Consult local professionals for serious inquiries about investing in real estate. If you allow us to introduce you to a local real estate agent and you later close a deal with them, they will pay us a referral fee, which helps support the channel. We receive nothing for introducing you to lenders or attorneys, other than good karma... :)

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