A GUIDE TO BUY REAL ESTATE IN BUENOS AIRES

An escribano is a public officer vested by the State with public faith, thus every act notarized by an escribano is authentic. Even though his functions are similar to the ones ordinarily exercised by notaries public, to become an escribano in Argentina, one must first earn a law degree and then complete a post-graduate degree.

The intervening escribano is generally picked by the buyer with the seller’s consent. It is recommended that buyer ask for advice from an escribano before signing the title deeds in order to reduce the risks associated with property purchases.

Before writing the title deeds, the escribano studies the property title to check that the prior title deeds are authentic and requests for documents from the Registro de la Propiedad (Real-Estate Registry Office, hereinafter referred to as “Real-Estate Registry Office”) to guarantee there is no lien, mortgage or legal restriction on the property. Furthermore, the escribano requests for certificates of tax and building maintenance fees due, since he is also vested by the State with the power to withhold due payments.

Once the escribano checks that no document presents problems, he writes the title deeds according to the agreement of the parties. By signing the title deeds, the escribano attests that the purchase is authentic and guarantees the identity of the parties. The escribano issues a certified copy of the title deeds and files it with the Real-Estate Registry Office.

To carry out this transaction, it is very important that the parties have good communication. Therefore, if the buyer is a foreigner and does not speak Spanish fluently, it is recommended that a translator, an interpreter or a trustworthy person accompany him during the whole buying process to avoid misunderstandings and clear up any possible doubt.