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What are some tips for purchasing real estate in Puerto Rico?

A:

Quick Answer

Real estate agencies are a good starting point for purchasing real estate in Puerto Rico. It is important to hire a real estate agent before entering a transaction because most negotiations use Spanish, according to Global Property Guide. The agents are also knowledgeable about the local markets.

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Full Answer

Newspapers and websites are other places to find houses for sale. Housing prices in Puerto Rico are comparable to those in Miami and Los Angeles; however, property taxes are much lower than in most places in the United States, says Welcome to Puerto Rico. A buyer can also expect to pay a deposit of 5 percent of the purchase price after he has reached an agreement with a seller, according to Global Property Guide.

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