Can a non-resident buy real estate in Argentina?

on the brink

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I'd like to buy an apartment in BA. Does anyone know how that works? How to transfer the money? What taxes/fees are involved?
 
This is a post I made in 2015:

Here are ten tips off the top of my head about buying real estate in Argentina:

1. Anyone can buy property in Argentina. If you are a resident you will have a DNI (ID number). If not, you can get a CDI from AFIP.

2. The buyer usually pays the real estate agent a commission of 3 or 4 percent but in addition to showing property and presenting offers, the real estate agent rarely does more than get the buyer and seller together for the boleto and the escritura (closing). A small (and refundable) deposit (one or two percent) is typically provided with the offer.

3. The escribano (who is "above" a lawyer in the professional hierarchy in Argentina and prepares all of the paperwork for the escritura/closing) should order the "informes" (report to see if there are any liens against the property) before the boleto. The buyer ALWAYS chooses the escribano (who usually charges 2%). Be sure the informes have NOT expired before the escritura/closing takes place. I believe the real estate agent can also order the informes (before the escribano is selected).

4. Real estate closings can also be done by "lawyers" who often charge less (1%), but I've always used an escribano with a great reputation and I can recommend one in Capital Federal that I know well.

5. The seller often chooses the location of the boleto and the buyer usually chooses the location of the escritura. Banks charge for the use of a private room for these transactions but usually offer account holders (of the individual branch/sucursal) a better rate.

6. At the boleto (which the escribano may or may not be present) the buyer usually pays 30% and the real estate agent usually takes his/her commission at the same time.

7. If the seller does not follow through with (complete) the sale he/she usually owes the buyer double the amount of the boleto.

8. At the closing the buyer pays the seller the balance due, the escribano is paid, and the keys to the property are handed over to the buyer. If you are buying a property that was occupied when you first saw it and made the offer, be ABSOLUTELY SURE it has been vacated AND NOT STRIPPED OF ANYTHING THAT WAS INCLUDED IN THE SALE on or before the day of the escritura! While it is customary for the seller to take the curtains, light fixtures and air conditioning units and leave the kitchen stove, it is NOT customary for the seller to remove the calefon (water heater) or claefactors (heating units).

9. As GS noted, you need to show the provenance of the funds for the purchase, at least to the escribano's satisfaction, as he/she is ultimately responsible for verification of the provenance to AFIP if they ask (at least that was my experience when I first bought property in BA in 2006).

10. I won't comment on how to bring money into Argentina today as it's been too long since I did that and many things have changed since then (multiple exchange rates), but whatever you do, DO NOT transfer funds into the country through the central bank at the official exchange rate.

Other members are welcome to add to or update anything in the above list.
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PS: Here's a link to the thread (which I found in less than ten seconds by entering "buying real estate" in a search).

How Does Buying A Real Estate Work Around Here?
 
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