Anyone Here Ever Bought A Fideicomiso -- A New Apt. In Ba?

argsteve

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I was just wondering of any one here has ever gotten into a new apartment here..fideicomiso where you pay quotas for 2 years and someday hope to get a new apartment....

The whole process for me is getting weird an fishy... I went to REMAX.. on las heras and reserved a studio apartment with some lady named Liliana... I ended up with her since she speaks english and I thought that would "help" me

Well I reserved the 8th floor apartment signed the reserve paid 2000 to reserve it.... and left.. now 3 days later they call me and tell me... oh that one is sold... so you cant get that one .... but a lower floor with the same size is available.....

What the hell.. 3 days later... after I have signed a contract and put money down and you now say that one is taken.. and even stranger the one they want to sell me now.. is on a lower floor and they said that one was already sold... but now I can have that one....

The whole thing is fishy.. if I was in the USA.. I would be calling a lawyer.. but here I dont know if anything can be done.... or would it be worth making a big deal of it.. I have complained of course they just say it was a paper mistake.... etc etc

I know most people will just say just take the lower one... but i guess when you sign and pay and sign a reserve. etc you expect to get that apartment....

So the real questions is.. can I trust anything in this building... and does anyone have any horror stories about buying into a new building here in BA..... thanks
 
and does anyone have any horror stories about buying into a new building here in BA..... thanks

Wow, lots of hands just went up. In my experience the most important element of buying any property in Argentina is to make sure you are dealing with reputable people - agents, lawyers, escribanos, etc. You get that through personal referrals.

Oh, and assume that if something can go wrong it will, either because the system is cumbersome or because some professional who is supposed to be helping you decides that they need to complicate things in order to justify their (increasing) fees.

PM me if you want referrals.

GS
 
Thanks GS... I am not a newbie to buying property here...
but this is my first new building under construction -- to be built in 2 years..... and I am already getting jerked around by the real estate company...
so I am just seeing if the whole new building idea is worth the headache...... thanks
 
if the one you paid the reservation for is now unavailable, can't you demand that your reservation money be refunded? And to believe this happened at REMAX, which is one of the top real estate companies in the city! ????
 
yes I can get the money back....... but I wanted the apartment that I signed and paid money for... it is just weird 3 days later to be called and she says that one was sold already...

I am just asking more for anyone that has had problems with the new buildings and waiting 2 years for it to be built.... just dont know if my blood pressure can take 2 years of these surprises....
 
yes I can get the money back....... but I wanted the apartment that I signed and paid money for... it is just weird 3 days later to be called and she says that one was sold already...

I am just asking more for anyone that has had problems with the new buildings and waiting 2 years for it to be built.... just dont know if my blood pressure can take 2 years of these surprises....
Research the construction company, Google it, etc. sometimes they finish the building and leave it with no gas, etc, weird stuff. As for the retard that took your seña for an apt that was already sold, if I was you I would speak to a manager, but in RE here, sometimes they take a bunch of señas to ensure stuff is sold if one offer fails, etc.
 
All good advice above. Also request to go and see at least one of the constructors previous projects to check quality/completion and try to talk to owners/investors.
 
I have over 3o years of experience in real estate in Buenos Aires
and for this reason I have only bought already built and functioning properties(and mostly older ones of superb quality!)
The gas station next to my building exploded in 2002 and the windows of places across the street blew out, structural damges ,etc
NOTHING NADA happened to ours! and our was flsuh to the station!
I know the fideicomiso is an interesting idea and very tempting but as an Argentine myself, a bird in the hand is better than two in the bush! Good luck and let us know what happens
 
One of my friends bought into a fideocomiso several years ago - one that the builder just broke ground on in Caballito. After about 4 months, some inspectors came and halted construction - the project sat idle for about 3 years until construction began again, meanwhile my friend had already sold his other apartment to obtain the downpayment for the fideocomiso, the original builder went bankrupt and later disappeared, the whole thing was tied up in a legal battle and the construction project auctioned off to another builder who is completing the building within the next few months. The good part is my friend didn't lose his money and what he paid for the apartment was frozen at the original price which was supposedly "at cost" at that time. So he is getting a brand new 2 ambientes in Caballito for $50,000 U$ which is probably worth double that now. The bad part was he spent several years living with his parents, renting, etc. but it all worked out as it usually does here, but not unless you fight for your rights.
 
Paper work error my a##se!
Clearly the appt you left a deposit on was a carrot and now they´ve shifted the goal posts.
They obviously can´t be trusted, so I´d get my money back and move on.
You owe it to yourself by saving what will surely be further heartache for you and your family.
 
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