{"id":36,"date":"2012-04-10T01:17:01","date_gmt":"2012-04-10T01:17:01","guid":{"rendered":"https:\/\/kierjoffe.com\/news\/?p=36"},"modified":"2018-07-19T15:38:38","modified_gmt":"2018-07-19T18:38:38","slug":"basic-legal-requirements-when-buyingselling-in-buenos-aires-argentina-real-estate","status":"publish","type":"post","link":"https:\/\/www.kierjoffe.com\/news\/lawyer-argentina-attorney-buenos-aires-law-firm\/basic-legal-requirements-when-buyingselling-in-buenos-aires-argentina-real-estate\/","title":{"rendered":"Basic Legal Requirements When Buying\/Selling in Buenos Aires Argentina – Real Estate"},"content":{"rendered":"

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Three Basic Legal Requirements When Buying\/Selling Property in Buenos Aires<\/p>\n

Whether you are buying or selling property in Buenos Aires, it is important for you to be aware of some of the legal requirements.<\/p>\n

Firstly, whenever a property owner intends to sell a property, or acquire the right to construct on a property, he\/she is required to notify the Administraci\u00f3n Federal de Ingresos P\u00fablicos \u2013 AFIP (federal administration of public income, similar to the Internal Revenue Service in the United States).\u00a0 The AFIP must be notified only if the transaction will have a value equal to, or greater than, $300,000 Argentine pesos.\u00a0 The transaction must be completed by the owner or his\/her representative by contacting the AFIP by telephone, cell phone or via internet (www.afip.gov.ar<\/a>).<\/p>\n

Secondly, if a real estate broker is going to intervene in the sale, a 90-day contract granting the broker authorization and exclusive rights to sell the property is drawn up between the seller and the broker.\u00a0\u00a0 Within 30 days, the AFIP must be notified of the broker\u2019s involvement in the sale.\u00a0 It is then the broker\u2019s responsibility to notify the AFIP when a deposit is made on the property and when the property title is transferred.<\/p>\n

Thirdly, the title transfer must be completed by an escribano publico (notary public).\u00a0 In Argentina, a notary public is a highly qualified individual with a law degree and additional post-graduate studies. When a property is sold, the escribano publico serves as a public official who guarantees the legality of the property title, the authenticity of the seller, and the legitimate transfer of the property title from seller to buyer.\u00a0 It is imperative that you ensure you have a qualified escribano publico handling the sale of any property, especially if you are the buyer. *<\/p>\n

There are costs associated with these different steps, all based on percentages of the property\u2019s sale price.\u00a0\u00a0 A 1.5% property sales tax, known as Impuesto a la Transferencia del Inmueble (ITI), is due if the seller is not reinvesting the proceeds of the sale in the purchase of another property.\u00a0\u00a0 The costs of transfering the propery title from seller to buyer runs between 6% and 9%.\u00a0 The realtor\u2019s commission averages 3% to 4%.<\/p>\n

* In Argentina an escribano publico must be registered with his\/her local Colegio de Escribanos.<\/p>\n

The proven Buenos Aires \u2013 Argentina lawyer professionals at the\u00a0Kier Joffe law firm<\/a>\u00a0have experience working with foreign clients involved in all kind of cases\u00a0in Argentina.\u00a0Buenos Aires Argentina attorney<\/a>\u00a0professionals are knowledgeable in almost all the practice areas of law, to service its international cases in Buenos Aires Argentina. International clients will have the confidence of knowing that the case is being handled by an experienced and knowledgeable Buenos Aires \u00a0lawyer in Argentina.<\/p>\n

www.kierjoffe.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Three Basic Legal Requirements When Buying\/Selling Property in Buenos Aires Whether you are buying or selling property in Buenos Aires, it is important for you to be aware of some of the legal requirements. 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