Buying a property in Buenos Aires

[Aztangogirl]

I think that if you did that today they would convert your dollars into pesos.

I have no idea . It was a different administration. Glad I bought when I did.

 

[D.B. Cooper]

I used Casa Puente years ago when I bought my place here.
You might have to show the source of the $$$ you're planing to transfer. I did.
Casa Puente has been around over 100 years. They were fantastic. I transfer the $$ from my NYC bank account.
I had to do it in two installments. When the money arrived we did the closing right in their office in downtown BA.
Very happy the way everything turned out. No regrets.

 

[MercyRego]

I used Casa Puente years ago when I bought my place here.
You might have to show the source of the $$$ you're planing to transfer. I did.
Casa Puente has been around over 100 years. They were fantastic. I transfer the $$ from my NYC bank account.
I had to do it in two installments. When the money arrived we did the closing right in their office in downtown BA.
Very happy the way everything turned out. No regrets.

Percentage of transfer fees??....

 

[D.B. Cooper]

Percentage of transfer fees??....

I had to pay Casa Puente 1.5% of the total and the escribano got about 2.% I don't remember the exact amount. I don't remember if I paid anything to the Foglia, the RE Agency. I don't know if you speak Spanish but I hope you have a good escribano. They'll check out the prop. make sure that there are no tenants living there or that there are liens on the place.

 

[Cristian77]

I had to pay Casa Puente 1.5% of the total and the escribano got about 2.% I don't remember the exact amount. I don't remember if I paid anything to the Foglia, the RE Agency. I don't know if you speak Spanish but I hope you have a good escribano. They'll check out the prop. make sure that there are no tenants living there or that there are liens on the place.

Paying 1.5 + 2 for the escribano is a lot of money. It should be possible to transfer from a bank in the US to another bank in the US and save all that money. A lot of people in Argentina want to take money out of the country, so I imagine this deal would be convenient for them

 

[steveinbsas]

Paying 1.5 + 2 for the escribano is a lot of money. It should be possible to transfer from a bank in the US to another bank in the US and save all that money. A lot of people in Argentina want to take money out of the country, so I imagine this deal would be convenient for them

The escribano´s fees have nothing to do with what you pay for the transfer of funds. The escribano (sometimes called a notary) is responsible to make sure the title to the property is clear and that the buyer and seller pay the appropriate fees and taxes (at least on the amount declared on the escritura).

There is no way I know of to get out of paying the fees and taxes on the amount declared on the escritura, even if you transfer the funds to the seller in another country.

At the least you will have to pay the taxes and fees that apply to the price declared on the escritura and the escribano´s fee will probaly be based on the amount you actually pay, even if the declared price is lower. You will probaly have to (and should want to) make the transfer in the presence of the escribano as well as the seller.

You might be able to find a "lawyer" who will only charge one percent, but you may be taking a big risk if you do.

If you really want to save money I suggest you look for an apartment which is offered for sale by the owner. That will save you the four percent real estate comission which is usually paid by the buyer if a property is listed with a broker.

 

[Ries]

expats are not who you want- you want to find rich argentines. Many many argentines have real estate and bank accounts abroad. I know of situations situation where an argentine needed money in their US account, and an expat needed pesos in Buenos Aires, and a friend of friend volunteered immediately. This is not something anyone will discuss online, of course- you need to talk directly with upper middle class argentines, and, most likely, somebody knows somebody right now who will do this. (not the seller- a third party who needs dollars in the US, or Euros in Madrid, and will give you pesos in Argentina for them)
Of course, this requires trust.
Which means it works if you have long term friends you trust here, who can, in turn, vouch for you to the Argentine.
This is a pretty common thing to do, among a certain class.

Also, there are cuevas that will do something similar- take your money abroad, and pay or deposit in your argentine bank account pesos. Again, you need to know people, argentine business people, who do this regularly, and get a recommendation.
The arab world has a global network, called Hawala- if you know any affluent middle easterners, they may be able to connect you to a local Hawala shop.

This sort of transfer will allow you to buy the apartment you want, as opposed to one that happens to be for sale by somebody who needs cash abroad.

 

[MercyRego]

I had to pay Casa Puente 1.5% of the total and the escribano got about 2.% I don't remember the exact amount. I don't remember if I paid anything to the Foglia, the RE Agency. I don't know if you speak Spanish but I hope you have a good escribano. They'll check out the prop. make sure that there are no tenants living there or that there are liens on the place.

Thank you. It is not for me. A friend of mine is trying to sell an apartment in Rosario (no luck until now). He might want to receive the money directly in NY (where he lives) without traveling to Argentina. We both are from Argentina and speak "porteño¨perfectly.

 

[mattlamb]

Hi, I would like to buy an apartment in Buenos Aires, but my money is abroad. I do not want to bring the money to Argentina, because of all the fees, taxes, etc. Is somebody interested in selling me property, and receiving the money in a foreign bank account? It could be a good deal if you have the intention to take money out of the country.

Hi there, a friend of mine is looking to sell and keep the money in the US. The property is a 3 bedroom 2 baths appartment in Recoleta and about 1500 sq ft.

 

[Cristian77]

Thanks, I am looking for something smaller, around 1000 sq ft.