Looking for a Real Estate Agent

[earlyretirement]

true, I just sold on a DNI even though I bought on a passport and had no problems. But the value of my apt was under the limit for needing a COTI, which, I believe, is the key in that equation.

Definitely Heather having the DNI makes all the difference in the world. AFIP is becoming difficult on granting those non-resident permits. Even for people that have been paying all taxes.

Definitely it helps not having to do the COTI but really it's not a big deal because you can always revise the COTI lower right before a sale. It happens all the time and sellers use the excuse they had to lower the price to sell.

Having a DNI certainly helps but people really need to think about the downsides of having a DNI as well. Especially the worldwide tax on assets.

 

[Ana Berger]

I sold an apartment early this year to foreigners and got the funds (usd) wired to a foreign account, I don't live in Argentina either though. So perhaps buy from a foreigner? I had no issues with getting the AFIP, but rules may have changed?

 

[earlyretirement]

I sold an apartment early this year to foreigners and got the funds (usd) wired to a foreign account, I don't live in Argentina either though. So perhaps buy from a foreigner? I had no issues with getting the AFIP, but rules may have changed?

That is always the ideal method for sellers to get paid abroad OUTSIDE of Argentina. Especially now when money exchange firms are charging so much to get dollars out of Argentina.

You still have a tricky situation many times. My friend that just closed yesterday had a Porteño that was buying his apartment. The Porteño didn't have the funds in Argentina. Like many, he had the funds hidden abroad in an offshore account outside of Argentina.

My friend (seller) was really pushing to get paid abroad. He didn't want the buyer wiring it to Argentina as he would have had to pay big fees to wire it out of Argentina.

But the buyer couldn't declare this account on the title deed because as typical, the account wasn't declared and he didn't want AFIP knowing about it.

So fortunately the buyer agreed to first wire the funds a few days before the Escritura (closing) and then they would sign the title deed once the funds hit. Many buyers don't want to wire first so it becomes a "game of chicken" for either party as sellers want the buyers to wire first and buyers want the seller to sign the title deed first.

Lots of deals still conducted that way offshore out of Argentina and just saying on the title deed the buyer paid cash at the closing.

 

[allcraz]

The biggest issue will be the seller (Porteño) has NOT declared this offshore account and will NOT want AFIP to know about it so most likely they will ask you to say you paid it in cash in Buenos Aires. They will NOT want to have their account disclosed on the title deed because then AFIP will know about it.

Although the thread title doesn't describe my question, it seems as though the conversation is along the lines of what I want to ask: Our property is for sale and there has been interest expressed from more than one buyer looking to do a transaction abroad. My husband is Argentine and I am a permanent resident with DNI and have a bank account in the States where I'm from. We aren't leaving Argentina any time soon, so we would want the money here at some point in the future. I realize we can wire it in illegally paying a fee, but then what are the implications if we want to buy another property here? I've been told that we would have to play some paperwork games and use another source of income justification to buy another property...that we couldn't use the sale of the current property as justification because the money didn't go through the system legally..? What I quoted above is our situation. My US account is obviously not declared here and we would not want it to be. Any one been through this or have any words of advice?