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Buying real estate and property inBrazil
from: Alex WilliBuying property, a smooth transaction, and costs.
A smooth transaction Buying property in Brazil is actually a
very clear and straightforward process, but there can be many
pitfalls for the unaware. For this reason we only work with
reputable developers, estate agents and lawyers to ensure a
smooth, safe and efficient transaction. Below we set out
information on buying process requirements and costs of property
purchase
Financing Mortgages in Brazil are very rare because of high
interest rates and most property is bought by full cash payment.
In the case of Off-plan property, payment can be spread over a
period of up to 5 years. It is possible to obtain mortgages
through international mortgage brokers.
CPF (tax registration number) This is required to buy real
estate or open bank accounts in Brazil. We will be glad to
assist you in obtaining your CPF.
Bank accounts can be opened in Brazil on certain conditions and
all major banks provide online banking services. We can
introduce you to a Bank and help with the opening of an account
for you here in Brazil.
Estate Agents We only employ and work with government certified
CRECI estate agents.
Lawyers We have for your legal advice a selection of lawyers
specialized in real estate, taxes and immigration.
Buying Costs Bahia Real Estate Ltda commission charges depend on
the services we provide.
Property purchase cost these are the typical transaction costs.
Property tax varies between 2% and 3% depending on the location,
this tax being levied on the declared purchase price.
Lawyers and Notary fees are charged for checking certificates
and registers, that there are no debts owed on the property, for
proofing contracts, advising on obligations and registration of
the property in the new owner's name. This cost varies between
0.2% and 2% of the property value, depending on the type of
property. Quotes can be requested on your behalf.
Yearly Running Costs ITPU local municipal tax.
General, tel,electric, gas, water rates, etc. are about 20% of
what they are in Europe.
Condominium charges are between 100 and 400 reals per month, for
upkeep, maintenance and security of houses in closed
condominiums.
Caretaker for maintenance of garden and pool, between 100 and
400 reals a month.
Housekeeper, for cleaning and cooking, between 350 to 500 reals
a month.
The above costs are guidelines to help you plan your budget.
When purchasing a property, costs can vary to those stated above
depending on property type, size and investment .
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