A guide to buying property in Puerto Rico
Buying in Puerto Rico is easier when you know what to expect at each stage. This guide summarizes the process we follow with our buyers, whether they are local families, Puerto Rican business owners and investors, or buyers coming from outside the island.
1. Define your goal
Primary residence, second home or investment? The answer changes which areas, property types and rules you should review, such as each condo's short-term rental rules.
Define your timeline too: when you need to move in or close.
2. Prepare your financing
If you're financing, talk to a bank or credit union early to understand your buying power. A pre-qualification gives you clarity and strengthens your offer.
If you're paying cash, have proof of funds ready.
3. Search with criteria
We review MLS properties and compare price per square foot, HOA fees, special assessments and property condition.
For condos, ask for the bylaws and the association's financial statements.
4. Make an informed offer
We prepare the offer based on recent comparables. Price, deposit, contingencies (financing, inspection, appraisal) and closing date are agreed.
5. Inspection and appraisal
A professional inspection identifies repairs before closing. If you're financing, the bank will order an appraisal.
6. Closing
In Puerto Rico, the sale is formalized through a deed before a notary. Review closing costs early with your bank and notary.
For legal or tax matters, we refer you to your attorney or accountant.
Read the full guide
Leave your details to see the full guide. That way Allis can answer any questions about your situation.
Learn more: our service
Markets: Condado · Miramar · Santurce · Isla Verde · Dorado
Other guides: A guide to selling your property in Puerto Rico · A guide to investing in Puerto Rico real estate