Financing a Place in Argentina

#1
Greetings And Happy New Year,

I have a question about financing a property in Buenos Aires, as I’ve gotten mixed information from various sources. I am looking to invest in a place (half year for my personal use, the other half AirBNB or use of other family members), and while I could buy a decent place in cash, I would be able to get a larger place in a more desirable building if the possibility of financing (even on a short term basis, actually this would be ideal) it were available to me.

One real estate office told me that it is possible for a foreigner to obtain financing if the down payment made is large and that the financing is done directly through the builder and real estate office.(?)

I’ve also seen a gazilion ads that say something along the likes of 30 porciento de adelanto + paga en 30 cuotas, leading me to believe that this means 30 percent of the asking price in cash and that they would do a short-term ‘mortgage’ of 30 payments (?)

Is this correct and if so, does it work kind of like the car payments work here where they don’t actually give you the property until you’ve fully paid all of the quotas in full?

Thank you in advance.
 
#4
Real Estate deals generally are quite complex here so your best bet is talking directly to the property. The norm is still in cash but there are always creative ways to structure.
 
#5
Thank you for the info. I see that perhaps it is best to call and inquire about a specific property once I have something in particular in mind. Well I know buying cash has been the norm (and probably a lot easier), lately I am seeing ads for properties, mostly new developments, with ads that read something like 30% anticipo +30 cuotas (or similar). In the States, all properties would be fair game for financing so long as the bank/lender gives you the financing, here I infer based on what’s been mentioned that the financing is done through the builder/seller/realtor directly in some cases..?
 
#6
As with all real estate transactions in Arg - CAVEAT EMPTOR. Understand your rights and obligations well. Do not assume anything including that those you employ (like your broker) owe you a fiduciary duty.
 
#7
You can buy an apt that is being built with 30 percent down and the rest in even payments until the project is finished . Usually it’s between 24-36 months from the start. When the building is finished it must be paid off.
 
#8
I took out a personal loan at home, for me it was the best and only option. If you bring money in to buy a property you must finish transfer with the sale. When I tried I was not allowed to bring in money for a deposit, it was all or nothing.