Property in Haiti: Exploring the many problems

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Leonel JB

Post by Leonel JB » Tue Oct 12, 2004 2:43 am

The best bet, Marie Therese, is to get someone you trust in Haiti to pay it for you. Which is very hard. Which makes me think of other property related problems or concerns:

Having property in Haiti is a gamble. There is no Rule of Law: No respect whatsoever. This is another issue. It is about time for some people to respect "Biens d'autrui".

For instance, it is a common story. You can have people living unknowingly at your house... Buying a land is another tragedy. People can build on any land over there. There is no "Vérification des titres de proprieté".

This problem did not start with Aristide or Duvalier. I believe it started long long ago.

When will end this Anarchy, this lack of Respect?

Zenglendos, Makout, Chimeres and some common folks have that Gwo ponyEt attitude or mentality which need
s to be controlled back there.

Going back to your question, before I show my frustrations too much...

Get someone who would not need your money? I don't know if that makes sense? This is not easy. But myself, I have a respected cousin whom I trust. Maybe you can find a family member (trustworthy) yourself?

Well, come to think of it, I don't know if there is record keeping back there for taxes. With the incompetence of our governments? I didn't want to scare you, Marie Therese, good luck!

**HELP! Can someone tell me why properties in Haiti are so expensive? Do people living outside have a lot of money, excluding me? Is the demand so high therefore the supply has to increase? Please, tell me. There is no property under US$ 20K. We need a reality check here. People with six figures income in the US do not have 20K in their saving account (except a few and dealers).

By the way, if it's tha
t expensive, I will have better return in the US, my friends from Haiti.


Post by HenriD » Thu Oct 14, 2004 8:38 pm

We have asked the three ImmoMedia specialists below to participate in this thread as much as their time permits. If somoeone is looking for specific assistance with real estate matters in Haiti, you can visit the following site:

They can list their requests here:

and write in english, french, kreyol or spanish to the persons below who have considerable expertise and experience and are very helpful.

Tessa Russo

Lydie Bergmann

Eila Levy

You will find several of the services you may need available at the following web pages: ... ro-pub.htm

Best Regards,

Henri Deschamps

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Questions for Immomedia

Post by admin » Fri Oct 15, 2004 2:14 pm

Several questions have been asked already in this highly pertinent thread. Here's one more.

Someone is interested in buying property in Port-au-Prince. She wants to know whether or how you guys deal with mortgages. That is, can she secure financing right here in the States or would she have to get it in Haiti?

I told her that I would try to get an answer. Then I thought that since others on this forum may have similar questions or experiences, I would then formulate the query right here and that you would welcome the opportunity to provide some answers for us.

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In Reference to mortgages

Post by admin » Tue Oct 19, 2004 1:00 pm

I received the following answers from an IMMOMEDIA representative:
[quote]In Reference to morgages, please find below the recommendation of the Central Bank pertaining to real estate loans:

The Central Bank recommends that real estate loans be extended after file analysis of the loan applicant. The loan applicant must reside in Haiti and his/her revenues must be domiciliated in Haiti. In certain instances, for the non-residents, the request could be considered if a resident, deriving revenues in Haiti conjointly signs with the applicant the loan contract band other related document. The non resident could also be asked from his/her bank a letter of recommendation and from his/her work place a work letter attesting of his/her revenues amongst other information

The requested documents are as follows:
.- a cost estimate of the property
.- the property titles
.- the justification of

The following garanties and comfort are asked:
.- a mortgage
.- a life insurance (endorsed in favor of the bank)
.- an all risks insurance
.- a salary domiciliation (i.e. account to be opened at the bank and monthly salary to be deposited/transferred directly to this account)

Last, the bank finances 70% of the purchase cost.[/quote]

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More answers from IMMOMEDIA

Post by admin » Tue Oct 19, 2004 1:33 pm

Q: Have there been any cases of non-national banks (U.S. or multinational) offering mortgages to non-Haiti residents for properties in Haiti?

A: Non-national banks are reluctant to offer morgages to buy properties in Haiti: they cannot verify the worth of the property, if it really exists or not... I know that some people have obtained "private" loans (using whatever they have as collateral in the States, Canada....) and used it to buy or finish houses here.

Q: What is the life of the mortgage (is it structured to be 30 years on average or less) ?

A: 5, 10, 20 or 30 years

Q: A life insurance endorsed in favor of the bank??? Yikes!!! Are we merely talking about the requirement of mortgage insurance here, indexed to the outstanding loan amount?

A: Yes, the life insurance is endorsed to the bank, as well as th
e property titles as long as the morgage is not reimbursed.

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