A GUIDE TO BUY REAL ESTATE IN BUENOS AIRES
OFFER AND RESERVATION SUM
Once the buyer verifies all the documents regarding the property he wants to buy do not present any problem, he must make an offer and pay a reservation sum to the real estate agency in order to declare his intention to buy the property. The property owner may accept or reject the offer or even counter-offer (generally, the owner sets a higher price in order to leave room for negotiation).
By paying the reservation sum, the real estate agency cannot offer nor show the property during the term the owner has to decide whether to accept or reject the offer, or to counter-offer. In case the parties do not reach an agreement as regards the price, the real estate agency must return the reservation sum to the buyer.
If the buyer works directly with the property owner, i.e. without a real estate agency as intermediary, it is not necessary to pay a reservation sum.
By paying the reservation sum, the real estate agency cannot offer nor show the property during the term the owner has to decide whether to accept or reject the offer, or to counter-offer. In case the parties do not reach an agreement as regards the price, the real estate agency must return the reservation sum to the buyer.
If the buyer works directly with the property owner, i.e. without a real estate agency as intermediary, it is not necessary to pay a reservation sum.
In the same Section:
Real Estate Buying Process
Real estate transactions in Argentina are made in cash and in dollars. So, potential foreign buyers should consider this fact, since they will need cash to complete the transaction [Read more]
After finding the property, the buyer should ask the seller to show him the following documents regarding the property:
* A photocopy of the Property Title.
* Proof of Pay [Read more]
Offer and Reservation Sum « you are here Once the buyer verifies all the documents regarding the property he wants to buy do not present any problem, he must make an offer and pay a reservation sum to the real estate ag
If the parties reach an agreement, they may sign a purchase agreement, in which the property transfer date and the intervening escribano are indicated -see 3.2.4 Escrib [Read more]
Signing a purchase agreement is not an obligatory legal requirement to make the property purchase effective. In fact, the parties can directly sign the escritura (title [Read more]
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 simi [Read more]
* The following information concerns the requirements and legal process to buy and sell real estate in Buenos Aires. You may find some differences in the real estate buying or selling process used in other Argentine cities.
