Frequently Asked Questions

What are the first steps to buying a property in Puerto Rico?

Start by defining your budget, request a mortgage pre-qualification, and find a licensed broker to guide you. Explore areas that fit your lifestyle.

Can I buy if I don't live in Puerto Rico or I'm a foreigner?

Yes! Anyone can buy here. Just make sure you have the proper documentation if you plan to finance the purchase with a local bank.

How long does the purchase process take?

Typically, financing takes between 30 and 60 days. Cash purchases can take less time, between 14 and 30 days. It all depends on the type of property, your financing, and the required documents.

What are closure costs and how much do they represent?

These include notary fees, stamps and receipts, registration, title search, and prorated taxes. Estimate between 3.1% and 6.1% of the balance to be financed. With a cash purchase, the costs are usually lower.

How do property taxes (CRIM) work?

The CRIM charges based on the assessed value. It is paid twice a year and varies by municipality, exemptions, and/or exclusions that may apply.

What should I know about hurricanes and floods?

Always check if the property is in a flood zone and if it complies with building codes.
Hazard insurance is usually mandatory.

What should I know about hurricanes and floods?

Always check if the property is in a flood zone and if it complies with building codes.
Hazard insurance is usually mandatory.

Are there any tax incentives (Law 60, opportunity zones, etc.)?

Yes, and some are very attractive. You should talk to a specialized accountant or lawyer.

What happens if the house has a solar energy system?

If the system is under a lease, it is transferable to the new homeowner. If the solar energy system is paid off, this is considered a home improvement and the price may reflect that.

What do I do if I can't find my answer here?

How do I know how much my property is worth?

Request a market analysis (CMA) to compare with recent sales in your area.

What is a broker's typical commission?

Typically between 5 and 6 times the final selling price. This includes valuation, strategy, promotion, negotiations, and management of the entire process.

Can I sell if my property has a solar system with debt?

If it's a lease, it's transferable and doesn't necessarily have to be paid off. If it's a solar loan, it must be paid off with the sale. If your solar system is paid off, your house is worth more.

How long does it take to sell a property?

It depends on the area, the price, and the market inventory.

What improvements will make my house stand out from the others?

New paint, good lighting, cleanliness and organization, professional photos and a well-maintained garden make all the difference.

Do I have to pay taxes when I sell?

Yes. Depending on your income and whether it's your primary residence.

Can I sell if I still have a mortgage?

Yes. The loan is paid off at closing and you receive the difference.

Why should we work together?

It's simple, just contact us

💡 Final tip

Working with a licensed local broker means having someone by your side who knows the market,
the documentation and the reality of Puerto Rico.

What do I do if I can't find my answer here?