17 May Sell your Property Argentina
Sell your Property Argentina
Why hire an Attorney in Argentina to sell your Property?
Simply because you need a professional with experience regarding Argentine Real Estate Law.
Is it a proper time to buy or sell your property in Argentina?
The continued improvement of economic conditions has meant that foreign investment opportunities have increased. In the wake of this, opportunities for overseas property buyers and sellers have opened up in different parts of the country. While still to be considered an emerging market, there are a number of different types of buyers to which the renting and eventual sale of property in Argentina will be interesting.
As an emerging market for overseas property investors, there are some hurdles to overcome in Argentina. Some of these are practical, such as the lack of mortgage products and still some issues restricting the transfer of foreign currency. Other issues have to do with the economic direction of the country as a whole. High inflation rates across the country are holding back development, and new government figures cannot be trusted as they have been understating inflation figure.
Argentina offers a huge variety of landscapes, though property buying opportunities can generally be grouped into two types: city and country. City property opportunities for foreign investors will almost invariably be centered on Buenos Aires – the social, political and business hub of the country. Foreign investment in the city has grown steeply over recent years, bringing new industries and practices to the region. At the same time, the capital was traditionally a major trading post both for the huge natural resources that Argentina is blessed with, and later for international trade as the city lies between the major sea lanes of the Pacific and Atlantic Oceans.
Understanding the relevant legal issues is key to selling your property in Argentina.
There are no restrictions on foreigners buying and owning property in Argentina. As a matter of fact, and the process is a simple and efficient one for an emerging market.
Buyers must obtain a CDI tax registration number from the government to complete their purchase, as well as having a bank account in the country and a representative appointed if they do not become resident in order to pay property tax for them.
Also, a Notary Public should register every real estate purchase in Argentina. This is one of the reasons that land title is generally secure and trouble-free in Argentina. Additionally, it may cost between one percent and three percent of the purchase price. The Escribano is also responsible for registering the property sale and transfer of ownership with the authorities.
Other Essential Steps
After obtaining your CDI tax number, the property buying process in Argentina is quite simple. Then, you have to sign a reservation form and provide a certified identification. However, you should also always make sure that you have copies of all contracts in both English and Spanish. Some two to three weeks after your reservation, you should receive the pre-sale contract. Then, it is time to make the initial deposit. Indeed, this contract will set out the terms of the agreement, the schedule of building for off-plan purchases, and the date of completion.
Last, upon completion, both parties sign the official deed transfer documents before the Notary Public.
In conclusion, we have the best team of lawyers and real estate agents in Argentina.
Please contact us at:
[email protected] (please leave your phone number with country code and we will call you back asap)
+54 (11) 5263-3262
If your matter is urgent and you need to discuss your case immediately with a lawyer, please dial:
+54 (11) 3221-4468
If sending a Fax from abroad to Argentina please dial the following number:
+54 (11) 3221-2100 (Ext. 4468)