Questions About Buying A House

[French jurist]

I might buy the house I'm renting & it's a specific situation, so I welcome anyone's advice since I've never done such a transaction before.

I'll be buying the house in monthly payments from the owners of the house I'm renting (I know, this is Argentina, but well, I trust plainly the owners, they even offered to make the transfer of ownership from the start & put a mortgage on the house until it's fully paid). The good thing for them is I can pay in dollars, the good thing for me is they won't charge interests & wanted to sell their house anyway (market is crashed until 2015 at least, so better for them too).

The situation has a financial aspect (my income is in dollars) & a legal one (contract will need to be extremely well written but as some may know, I studied Law 4 years at La Sorbonne when I wanted to become a lawyer so I'm not too frightened by this).

It's more the financial aspect I'm dealing with for now.

- Is it OK to pay the owners directly in dollars in Argentina? (I prefer to avoid any reference to gold or to the Uruguayan peso/Argentinian peso/dollar rate from the Banco Central de Uruguay like it's often the case in such situations: for gold, that's quite obvious to understand since there's so much volatility + for the reference to the quotations in Uruguay it sounds too complicated and I prefer to avoid headaches)
- Is it OK to pay the owners in dollars on a foreign account?
- Does the transaction need to be "bancarizada" in Argentina (same question as above in fact = if I pay in dollars here in Argentina, will they need to enter a bank & be converted at the official rate?)

That's more or less the simple questions I have for now. For the legal aspect, I guess I'll put a mortgage in my name & would ask for the title to be kept by the escribano or by me, and will foresee any kind of situation (their heirs if they die in a car accident, situation where I die myself in a car accident, etc. all the logical stuff).

Thanks!

 

[mariano-BCN]

I'm also very interested in the answers to these questions, I'm looking to buy a flat still.

 

[mariposa]

[background=rgb(252, 252, 252)]wanted to sell their house anyway (market is crashed until 2015 at least, so better for them too).[/background]

That's what I thought, too. But then I put my house on the market anyway and it sold in 2 weeks. For the asking price, in dollars.

 

[lucha54]

But mariposa, yours is the nicest house in Palermo !!!

 

[mariposa]

[background=rgb(252, 252, 252)]But mariposa, yours is the nicest house in Palermo !!! [/background]

thanks lucha 54, I think so, too.....)

 

[Hybrid Ambassador]

So suppose the "Pais" would be for me an acceptable place to live for ever, what is the ongoing rate for a Real Estate there in Bs As, the nicer areas er, safer areas for one to consider buying now to one year from now. US$ per sq meters cost? and what is the average sq meters size for a condo, piso or apartment vs the houses there?

 

[mc kenna]

Todays rate is about 2100 to 2300 dollars per sq meter depending on the age of the building within palermo barrio norte area,Sizes start at 25sq meter studio to 70 or 80 sq meters If you find someone that can forsee the prices a year from now let me know since no one around here knows what's gonna happen lol . Houses and ph(propiedad horizontal) are a little more expensive

 

[mariposa]

[background=rgb(252, 252, 252)]Todays rate is about 2100 to 2300 dollars per sq meter depending on the age of the building within palermo barrio norte area[/background]

We got 3000 dollars per m2 (of covered space) for the house we just sold (Palermo Soho). But I didn't count all the outdoor space we have (had). How is that computed?

 

[GS_Dirtboy]

We got 3000 dollars per m2 (of covered space) for the house we just sold (Palermo Soho). But I didn't count all the outdoor space we have (had). How is that computed?

You can figure between $2100 and $2500 m2 for the covered area depending upon location, condition, amenities, etc. The outside area is usually worth about 50% of the covered rate.

Anyone who thinks that the market has crashed and they can't either buy or sell, get Dollars in or out, is very mistaken. My company has completed many real estate transactions this year and it's only increasing. I expect we'll complete 30 by year's end. PM me if you want more info.

 

[Hybrid Ambassador]

So amI figuring around US$250~$300k for a 80 sq mtrs condos? But that tiny space is only less than 900 sq feet and to US standards I think it is way too small ? My house is approx. 2500 sq feet. 4 bed room, two full bath, plus 3 cars garage and sits on a 3/4 acre parcels. So I thinking, 80 is way too tight? Am I right in imageneing this?