buying property

#1
Hi everyone. Its happening! I'm definately moving out there next summer even if its only on a temporary basis in the short term. I've been reading up on visa requirements and immigration which will be the hard part but from what I've read on buying property, it seems that you don't need to have any kind of residency to do so. Does anyone here have any experience or knowledge regarding this? Is it common for people to get ripped off? Any advice will be greatly appreciated.
Thanks

Rob.
 
#2
You don't have to be a resident to buy real estate here, all you need is a local tax ID number called CDI (see our Weblinks->Real Estate->AFIP guide). And you can just stop by at the tax office and get it. You need to show your passport and (please, correct me if I am wrong) a proof of an address. I believe I had to show a cable bill on my name or something.

Yes, rip offs are quite common. Even an established real estate agency can try to sell you an apartment with a bank lien against it. As an absolute minimum you should never accept a notary whom real estate agent suggests. Try to find someone who is independent and cares about his reputation. It is highly recommended to hire your own lawyer as well to oversee the transaction.

Expect everything to be slow and painful :). If people say that it takes a 3 days to get, say, proof of an ownership from the real estate registry, it may take a month easily. You should be ready that situation can take an unexpected twist at any moment. Even after the money transferred hands you can hear something like "Oh, and by the way, current owner will stay there for a couple more weeks". So, the whole experience may be quite stressful.
 
#3
You need to also be careful when investing your money in property in this country. If you look at historical per square meter prices (forget about the 7 year peg to the us dollar that was a freak of nature) property prices swing quite wildly and run on very precise cycles. Just beware of buying right on the top of the bull market, you might be in for a big loss.
 

shoush

Registered
#4
;400 said:
You need to also be careful when investing your money in property in this country. If you look at historical per square meter prices (forget about the 7 year peg to the us dollar that was a freak of nature) property prices swing quite wildly and run on very precise cycles. Just beware of buying right on the top of the bull market, you might be in for a big loss.
Could you expand some more on that? Good time to buy? Sell? Little more info on the cycles? Thank you:)
 
#5
shoush said:
Could you expand some more on that? Good time to buy? Sell? Little more info on the cycles? Thank you:)
Don't expect an answer to your question from the person who made the post. The post was made by a "guest" six and a half years ago.

Since I arrived in 2006, real estate prices have only increased, but not always at the same rate as inflation. There have been a couple periods of slow sales. One of them was in late 2008 and early 2009. The other one is right now.

There are many threads and hundreds of posts in the forum that deal with this subject.

Use key words like buying and selling real estate in the search feature and you'll find a lot of useful information. I suggest you pay attention to the dates of the posts and whether or not the member is still active as less than 10% of all registered members still are. Most active members will be happy to answer your questions.