Apartment purchase cost?

Manhatt05

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Hello All
We live in Orlando Florida and are recently retired. We are planning on retiring to Buenos Aires soon. We have been looking at apartments to purchase in Recoleta. But noticing additional costs of closing for the buyer seem outrages! Example
The buyer pays the real estate 3-4% fee and additional 21% VAT (to my understanding is taxes), and others. To bring total buyer closing cost to 6.63-8.34% and the 21% VAT.
this seems so high, how can anyone afford to do this? Am I correct on this and can anyone assist me with input?
Thank you so much in advance
 

Manhatt05

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It’s listed in the real estate agency apartments for sale description page and costs of properties (almost all that I have seen)
 

Manhatt05

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Many websites have it added to their listings however go to this site
Globalpropertyguide.com
It will list transaction cost and who pays them in ArgentinaDo you own property in Argentina?
 

lunar

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Ries

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its true that the transaction cost may be more than in Florida, but not 21% more.
 

Manhatt05

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I’m not relating cost to Florida cost but so you knowFlorida cost much more. Apparently you are not aware of the answer to my question: I provided the website that lists the 21% VAT cost added to the sale of property in Argentina
Thank you for your thoughts
 

lunar

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I’m not relating cost to Florida cost but so you knowFlorida cost much more. Apparently you are not aware of the answer to my question: I provided the website that lists the 21% VAT cost added to the sale of property in Argentina
Thank you for your thoughts
You are misinterpreting what the website says.

For example, if you want to buy an apt in Recoleta for 400k dollars. Real estate agents says his fee is 4% - 16k dollars. You have to pay 21% VAT on the agent's fees - 0.21 * 16 = 3.36k more.

VAT is not applied to the price of the property.
 
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DK72

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Hello All
We live in Orlando Florida and are recently retired. We are planning on retiring to Buenos Aires soon. We have been looking at apartments to purchase in Recoleta. But noticing additional costs of closing for the buyer seem outrages! Example
The buyer pays the real estate 3-4% fee and additional 21% VAT (to my understanding is taxes), and others. To bring total buyer closing cost to 6.63-8.34% and the 21% VAT.
this seems so high, how can anyone afford to do this? Am I correct on this and can anyone assist me with input?
Thank you so much in advance
The VAT is only on the fees. So if the real estate fee is 3%, what you are effectively paying is 3.6%. (In my case, the realtor wanted his VAT without actually giving an invoice… bienvenido to Argentina!)
in total, you have to calculate between 5-8% costs of the purchase value (All included)
 
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