A GUIDE TO BUY REAL ESTATE IN BUENOS AIRES
PURCHASE AGREEMENT
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 Escribano<'s Role-. When signing the purchase agreement, the buyer pays approximately 30% of the total property price (which will be completely paid on the date indicated therein) and the real estate agency receives a 3% - 4% commission for the services rendered.
If the buyer backs out after signing the purchase agreement, he loses the 30% he had already paid to the owner; while, if the seller backs out, he must double the 30% paid by the buyer.
After the parties sign the purchase agreement, the escribano studies all the documents regarding the property. If the escribano finds any problem, the purchase agreement becomes invalid and the property owner must return the amount of money to the buyer.
If the buyer backs out after signing the purchase agreement, he loses the 30% he had already paid to the owner; while, if the seller backs out, he must double the 30% paid by the buyer.
After the parties sign the purchase agreement, the escribano studies all the documents regarding the property. If the escribano finds any problem, the purchase agreement becomes invalid and the property owner must return the amount of money to the buyer.
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]
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 [Read more]
Purchase Agreement « you are here 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
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.
