Frequently Asked Questions from Homeowners Selling in Puerto Rico

How is the asking price of a property determined?

·         The price should be based on a market analysis, considering recent sales, location, size, condition, and features of the property. As a REALTOR®, I suggest that my clients get an appraisal. This report will help us develop a sound pricing strategy.

How long does it take to sell a property?

·         There is no exact timeframe. It will depend on the price, market demand, location, and the marketing strategy used. As a REALTOR®, I strive to sell quickly. My results speak for themselves.

Should I make repairs before selling?

·         Not always. Some improvements can increase the property’s appeal, but each case should be evaluated individually to determine if they represent a good investment. As a REALTOR®, I visit the property and assess what is most beneficial for my clients.

What are the advantages of hiring a real estate agent?

·         I will help you set a competitive price, promote the property, filter buyers, negotiate offers, and coordinate the entire process through to closing. As a REALTOR®, I handle the entire process. You only need to make the essential decisions about selling your property.

Where will my property be advertised?

·         Promotion may include real estate platforms, social media, co-broking with other real estate agents, digital marketing, and access to our database of interested buyers.

What documents do I need to sell?

·         Generally, you will need the deed, property tax identification number, IDs, and other documents related to the property. Requirements may vary depending on the specific case. Please contact me for an evaluation.

Can I continue living in the property while it’s for sale?

·         Yes. Showings are scheduled in advance to minimize disruption and facilitate the process for both the owner and potential buyers.

What happens when an offer is received?

·         The offer is reviewed together, and you can accept it, decline it, or submit a counteroffer. My role is to guide you so you can make an informed decision.

What is co-broking and why does it benefit the seller?

·         Co-broking is a collaboration between real estate brokers to present the property to the largest possible number of potential buyers, increasing the chances of a sale. As a REALTOR®, I am always open to collaborating with other real estate agents.

What happens on closing day?

·         On that day, the legal documents are signed, the agreed-upon payment is completed, the funds are transferred, and ownership of the property officially passes to the buyer. I will be present that day, and I remain available after closing to answer any questions.

Frequently Asked Questions from Buyers

Do I need to be pre-qualified before I start looking for a property?

·         It’s not required, but it is highly recommended. Pre-qualification allows you to know your budget, streamlines the process, and shows sellers that you are a serious buyer. As a REALTOR®, I have bankers available to pre-qualify you.

Can I buy a property without a realtor?

·         Yes, but having a REALTOR® provides you with professional representation throughout the search, negotiation, document review, and coordination of the process until closing.

What’s the first step to buying a house?

·         Define your budget and, if the purchase will be financed, obtain mortgage pre-qualification. Then you can begin searching for properties that truly fit your budget.

How much money do I need to buy a property?

·         It depends on the type of loan, the property price, and closing costs. Every case is different, so it’s advisable to conduct a financial assessment before starting.

What expenses should I consider besides the property price?

·         In addition to the purchase price, there may be closing costs, appraisal fees, inspection fees, notary fees, brokerage commissions, property taxes, and other costs related to the transaction.

How long does it take to buy a property?

·         A purchase can take anywhere from several weeks to a few months, depending on the type of financing, the appraisal, the inspection, and other factors.

What happens after I make an offer?

·         The seller can accept, reject, or make a counteroffer. If both parties reach an agreement, a contract is prepared, and the due diligence process begins, leading to closing.

What is a property inspection?

·         It is an evaluation performed by a licensed inspector to identify potential structural or operational problems before finalizing the purchase. While inspections are not required in Puerto Rico, as a REALTOR® I always recommend that buyers have one done.

What happens if the appraisal is lower than the agreed-upon price?

·         Depending on the contract, the parties can renegotiate the price, contribute additional funds, or cancel the transaction.

Can I buy a property with cash?

·         Yes. Cash purchases are usually faster because they don’t depend on the mortgage approval process. To schedule a property visit, proof of funds is required.

General Questions

In which municipalities do you offer services?

·         I offer real estate services throughout Puerto Rico. Contact me to learn how I can help you based on the location of your property or the area where you wish to buy.

Do you represent both buyers and sellers?

·         Yes. I offer professional representation to both buyers and sellers, although I specialize more in sellers.

Is there a cost for the initial consultation?

·         It’s free! The initial consultation is designed to understand your needs and explain the process so you can make an informed decision.

How can I get started?

·         You can contact me by phone, WhatsApp, email, or through the contact form on this page. We’ll gladly review your situation and discuss the next steps.

Didn’t find the answer you were looking for?

·         Contact me, and I’ll be happy to answer your questions about buying or selling property in Puerto Rico. My goal is to help you make informed decisions at every stage of the process.