Hi, I need some advice on buying property please

[MarcusMT]

Hi, I have come over from England for a months trip to see my sister who was born in BA and is a resident. As a gift I want to buy her an apartament. She has never bought before but speaks fluent Spanish. If she instructs a lawyer and deals with all the legals can I just send the money in us dollars to her lawyer at the necessary points? Is it possible to send a gift of approx $80,000 without being taxed? The apartament is going to be in her name. Any advice would be much appreciated, also if anyone wants to meet for lunch on me who has been through something similar or has some good bi lingual lawyer contacts please let me know. I'm here for another 8 days. Any help will be much apperciated, thanks Marcus

 

[Mitch]

Hi, I have come over from England for a months trip to see my sister who was born in BA and is a resident. As a gift I want to buy her an apartament. She has never bought before but speaks fluent Spanish. If she instructs a lawyer and deals with all the legals can I just send the money in us dollars to her lawyer at the necessary points? Is it possible to send a gift of approx $80,000 without being taxed? The apartament is going to be in her name. Any advice would be much appreciated, also if anyone wants to meet for lunch on me who has been through something similar or has some good bi lingual lawyer contacts please let me know. I'm here for another 8 days. Any help will be much apperciated, thanks Marcus

I have a great one and speaks perfect English E mail me at [email protected]

 

[NoseyParker]

What an amazing brother..... Hope all goes well....

 

[tomdesigns]

Hi, I have come over from England for a months trip to see my sister who was born in BA and is a resident. As a gift I want to buy her an apartament. She has never bought before but speaks fluent Spanish. If she instructs a lawyer and deals with all the legals can I just send the money in us dollars to her lawyer at the necessary points? Is it possible to send a gift of approx $80,000 without being taxed? The apartament is going to be in her name. Any advice would be much appreciated, also if anyone wants to meet for lunch on me who has been through something similar or has some good bi lingual lawyer contacts please let me know. I'm here for another 8 days. Any help will be much apperciated, thanks Marcus

Can you wait a year? Realestate here is rediculous at the moment but that might change soon. Would hate to see you and your sister loose like like 20K in value over night. then again maybe that is of no importance to you. What ever you do good luck...

 

[mariano-BCN]

Tom, who says that real state prices are going to drop? I've been waiting for 3, 4 years now 'cause everybody on this forum said the peso was going to drop against the euro, bla bla bla and prices are now higher than then.
My life has changed and don't need a apartment in BsArs but then again: I wonder why people keep saying prices are going to fall down and that there'll be a devaluation of the peso.
Argentina is horrible expensive by the way, I'm now in Thailand and having here the time of my life so cheap and good quality everything. In BsArs was everything expensive and bad service/quality.

 

[ghost]

Very few, without inside information, can ever pick the high or the low for any salable item or security. People watch trends and make their move based on need and instinct. The trends are indicating some major change in the wind and the change will bring a price adjustment. However, the value is not just the property you wish to acquire. It is the surrounding and supporting infrastructure. IE schools, parks, roads, security, sidewalks, railways and such. In Argentina's case, that supporting infrastructure is almost without value. Thus the current prices can not be justified [based on logic]
However, it is Argentina and logic has little to do with reality.

 

[Mano Negra]

Make sure you know how you are bringing the money in, whether it will be turned into pesos and whether you have the right to buy dollars again and at what rate. Much easier to do the deal offshore at the moment.

 

[Matt84]

She has never bought before but speaks fluent Spanish. If she instructs a lawyer and deals with all the legals can I just send the money in us dollars to her lawyer at the necessary points? Is it possible to send a gift of approx $80,000 without being taxed? The apartament is going to be in her name.

Marcus,
A broad power of attorney would be helpful but I have a better idea.
Most sellers would prefer to sell property in Argentina and have foreign currency wired to a token bank account in the States, Panama or Uruguay.
A nominal charge would have to be inside Argentina (the fiscal value of the property) and it will probably be below the gift threshold. The remaining cost can be wired bank to bank.

I don't know where your sister would prefer to live but some relatives and myself have a high ceilings, sunny 1 bedroom + patio right in front of Parque Las Heras (alto Palermo).

Regards,

Feel free to PM me or reply to this post.

 

[Wisconsin]

Hi
I have a property for sale (you can view it in the classifieds section (apt for sale on corrientes) Send me a pm or email at [email protected] if you're interested in more info. It can be sold furnished or unfurnished and I have a US bank account which would make the money transfer process easier!

(btw-that's a great gift you're considering giving!)

 

[Iznogud]

1) You can make a donation but you will be taxed.
2) She has to have the means to justify where those funds came from and include it in her Tax Forms, next year.
3) Buying and selling properties in U$D is not verbotten yet, or is it? I understand that the issue at this point is how to procure the foreign currency and not how to spend it if you already have it.
4) Those transactions do involve a lot of currency changing hands "under the table". Maybe that's where you can chime in.
5) Beware of transferring funds here, do your research well and find out who will give you dollars and who will try to screw you with official rate funny money.