Real Estate Cash Out Help

[Aussie29]

After reaching into or pockets countless times for this and that (posesion/boleto etc) the escribano of the developer of the unit which we have had the keys to and possesion of for 8 months wants about $10k USD for the escritura. Does that seem funny or this standard.

 

[Zackdotcom]

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[steveinbsas]

After reaching into or pockets countless times for this and that (posesion/boleto etc) the escribano of the developer of the unit which we have had the keys to and possesion of for 8 months wants about $10k USD for the escritura. Does that seem funny or this standard.

Since you didn't indicate the sales price, it's not possible to say if it's funny or standard.

 

[French jurist]

Steve or someone else will correct me if necessary but it seems that :
- all the fees involved before the escritura are paid by the seller (what you did it seems).
- the impuesto al sellado is divided 50/50
- the honorarios paid to the escribano usually are paid by the buyer, unless otherwise stated before. This percentage usually turns around 1.5 to 2%. I've noticed some sources stating 3% while some others say 2% should be the maximum.
- all the fees involved after the escritura are to be paid by the buyer

In doubt contact :
Colegio de Escribanos.
Avenida Callao 1542, Ciudad De Buenos Aires - 011 4801 0081

***

My personal experience (just for two rentals) with escribanos has been poor :
- First time, renting a house in provincia, the escribano did not charge the sellados (they are mandatory outside of capital). No big deal since it's risky for the owner and the escribano asked for a low amount.
- Second time, 6 months ago, again renting a house in the provincia, the owners wanted to do everything in the most legal way again. I said fine. The escribano asked for a 3% commission on the totality of the contract. I thought it was a bit excessive so I asked the owners if that included the sellados (0.5% of the contract if I recall). They said yes.
The day we went to sign, the owner asked again the escribano about the sellados, and the escribano answered "nobody pays the sellados" (the fine is quite heavy, and if I, as the one renting was to stop paying the rent, and if we were to go to Court, the owners would need to pay a heavy fine). We gave anyway the 3%, the escribano gave to each of us a kind of invoice titled "factura provisoria" with just a signature. This escribano is a crook, very friendly & charming -like all the crooks-.

Morality : beware and call the collegio de escribanos

 

[French jurist]

Put it differentely, if I understand you :

- If the escribano asks for 10K for his honorarios, it means that even if he was asking for a very excessive 3% that the price is about 1.300.000 pesos (price can vary depending what you include in it).
From what I've read from you, it seems that you are selling your property for much less than that so there is something really wrong *2 :
. What is the percentage ?
. Did you agree before about paying the honorarios ?

Again, I might be wrong, but "that does not compute"

 

[French jurist]

And you need to leave in 48 hours ?

Well, I thought I was not very organized but I see I am not the only one (friendly humor) !

 

[perry]

After reaching into or pockets countless times for this and that (posesion/boleto etc) the escribano of the developer of the unit which we have had the keys to and possesion of for 8 months wants about $10k USD for the escritura. Does that seem funny or this standard.

It is an outrageous fee imho for doing a title deed. I also find many escribanos in this city to be not up to standard , inefficient, and with a superior attitude. I use two escribanos who are different from the norm and their fees are 1.5 for properties under US $ 250,000 and 1% over this figure.

Argentine notary lawyers are the worlds best paid and can earn 2 % of the sale price of a property under 200 thousand dollars. Paying 10000 dollars US if it is a million dollar apartment is just acceptable but anything under US $ 500,000 and you pay more more 6000 dollars is far too much imho.