I feel like a real estate purchase is pretty much a gamble here...

[expat0tree]

PS: I APOLOGIZE FOR YELLING (IN CAPS) BUT YOUR FINANCIAL FUTURE AND YOUR LIVES COULD BE AT RISK IF YOU DO WHAT THE SELLER PREFERS!!!!

Yes we are going to follow your advice for our safety, there is no reason why the seller cannot come to us, thanks again for the alert.

 

[London2Baires]

The above advice is good, don't take another step without getting a trustworthy escribano. I've used http://acquarone.com/ several times. She is a first rate escribano who is actually a contract law specialist, amoungst other things. Highly recommended. Though of course, do your own research etc. Good Luck!!

 

[Ceviche]

Agree with Steve in Buenos Aires. Wise man. Wise words.

 

[steveinbsas]

There is no reason to take the seller´s and or agent´s word that any problems with the title will be resolved if you don´t have your own escribano.

If there is a lien (aka embargo) against the property, your escribano will withhold the funds at the escritura to pay it off.

PS: Having just read the post you made while I was writing this, I´m gad to read that you will choose your own escribano.

Given what the seller and his agent have already said, I would not give them a deposit until your escribano gives you the go ahead.

The deposit is usually enough to cover the commission and it might be difficult to get it back if there is an embargo against the title or if the sale requires the consent of multiple parties.

The property might be in more than one person´s name or there may be a bien de familia. Either way, the written consent of all parties would be required before the escrow could be completed.

 

[nikad]

they want us to use their own escribano supposedly because that's what the seller prefers and feels more comfortable with, but if the choice is ours legally then it definitely makes our life easier, we are scared to death having to travel for over an hour with cash in the realtor's car (we don't have a car yet) to seller's escrow...

NEVER do that. You buy, you bring the escribano. Period. He is the one that will work in your interest, nobody else. Doesn't matter if they offer one for free. Take your own.

 

[Jerbo]

Given what the above posters are saying (especially Steve), all of whom have local real estate experience, your counterparties are rats. The problem with dishonest Argentines is that they are better at the game than foreigners. They can deceive you better than you can detect their deception. Just because you discovered an impropriety now, doesn't mean they will stop their dishonesty and future negotiations will proceed smoothly. Instead, they will look for and find another opportunity to deceive you. So in the end, they will win and you will lose. I would walk away and find another deal.

 

[steveinbsas]

Given what the above posters are saying (especially Steve), all of whom have local real estate experience, your counterparties are rats. The problem with dishonest Argentines is that they are better at the game than foreigners. They can deceive you better than you can detect their deception. Just because you discovered an impropriety now, doesn't mean they will stop their dishonesty and future negotiations will proceed smoothly. Instead, they will look for and find another opportunity to deceive you. So in the end, they will win and you will lose. I would walk away and find another deal.

Before you walk away, but only if the property is exactly what you have been searching for, I suggest you call the agent and tell him very nicely that you are going to get your own escribano, and that you want to skip the boleto and have the escritura wherever your funds are located.

If there is any push back, including any sign of indignation or that what you want is either improper or insulting, you won´t even need to wait to find an escribano to ask about the title...or anything else...at least regarding this property.

 

[elhombresinnombre]

..... we are scared to death having to travel for over an hour with cash in the realtor's car (we don't have a car yet) to seller's escrow...

You don't have to do this. When my Argentine other-half bought her most recent apartment she hired a security company to collect the money from one location and take it to the other and all the time it was in their hands it was insured. That might seem OTT but the upshot is that for a fee of less than 1% the full 100% of the cash arrived.

 

[expat0tree]

You don't have to do this. When my Argentine other-half bought her most recent apartment she hired a security company to collect the money from one location and take it to the other and all the time it was in their hands it was insured. That might seem OTT but the upshot is that for a fee of less than 1% the full 100% of the cash arrived.

Okay and what about putting the money in a safe deposit box at a local bank? Would the escrow then show up at that bank with the seller to sign off all the documents and receive the money at the same time? or would the money have to be moved from the safe deposit to yet another location where we have to sign? And does the bank gets involved in this transaction in any way or can the contents of the safe deposit box be completely confidential? thanks.

 

[steveinbsas]

You don't have to do this. When my Argentine other-half bought her most recent apartment she hired a security company to collect the money from one location and take it to the other and all the time it was in their hands it was insured. That might seem OTT but the upshot is that for a fee of less than 1% the full 100% of the cash arrived.

If the seller is willing to pay this fee it might be worth considering. Otherwise, why would the buyer pay this when they (should) have he option to select the location of the escritura? Even if the property only sells for $50K USD, that one percent would be $500 USD.