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 sellers 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.
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]
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
* 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.