Buying real estate in buenos aires step by step details

It is essential that you have an ethical and competent buyer's real estate agent to assist you and always protect your best interests.  It is also very important that you have an Escribano (Notary Public) that will represent you once you make an offer.  Make sure you have the right team in place before you start the process of making an offer on a property.

Here, we present a breakdown of the various stages involved in the process of purchasing property in Argentina. Please keep in mind almost all real estate transactions are in actual cash (US $100 Bills).  There are extreme currency controls in place so it's essential that you understand how to safely and legally bring in cash into Argentina.  Our firm has assisted with hundreds of millions of dollars of transactions and never had any issues.  It's essential that you bring in cash legally or you will have problems when you go to sell your property.

1. Initial Offer (Reserva): This initial step involves making an offer to buy the property, commonly known as a "Reserva." It marks the beginning of your property acquisition journey.  You must put down a cash deposit to make an offer typically of at least $1,000 US dollars.

The seller can (1) Accept; (2) Reject or (3) Counter-offer.   If the seller rejects your offer, you will get back this cash deposit.  Once you reach a mutually agreed upon purchase price, you will move to the next step.

2. Purchase Agreement (Boleto): The "Boleto" is the contractual agreement that solidifies the terms and conditions of the property purchase. It outlines the rights and obligations of both the buyer and the seller.  Typically the Boleto is done within two weeks of the seller accepting your offer.   Your Escribano (Notary Public) will check the Argentine Central Property Registry and make sure the property does not have any liens, encumbrances or mortgages on the property.

Remember that no realtor's commissions are due and payable until you sign the boleto document.  You must be present to sign the boleto document or have someone represent you via a Power of Attorney. (Our firm can be retained to conduct the Boleto for you).

3. Partial Payment (Seña): Sometimes the seller will ask for a Seña which is an additional down payment made as a commitment to the property purchase.  Sometimes when the property is very hot and they have multiple interested parties, this is a crucial step that demonstrates your intention to proceed with the transaction.    It's not alway requested but typically it might be if the Boleto isn't scheduled for a while.

4. Property Title Transfer (Escritura): The "Escritura" signifies the formal transfer of property ownership. It is the legal document that officially changes the property's title from the seller's name to yours.

You must be present in person to sign the Escritura.   If you won't be present in person, you must have someone to represent you via a Power of Attorney.  (Our firm can be retained to represent you at the Escritura if you can't be present).

When buying or selling your property, you can fully retain our firm to close the deal for you if you are not able to come to Buenos Aires.  Buying a property entails several times when you have to physically be present for the closing.   They do not use Docusign or allow you to close remotely by signing and overnighting closing documents.   You must physically be present both when you buy and when you sell or have someone to represent you and they must have a Power of Attorney.

If you aren't able to come to Buenos Aires, you can retain us to sign for you.  This will save you thousands upon thousands of dollars in airline flights, hotels, and lost time from work.   

We will be there for you every step of the way.