Brazil Beach House Listing in 2020- https://www.brazilbeachhouse.com/luxury-villas-1/luxury-4-suite-beachfront-villa-in-exclusive-condo
Are you planning to buy a beach house in Brazil? Do you need a bit of help with the practical steps on how to purchase ? Here is a basic guide for you that I hope will make things a lot clearer.
Brazilian Real Estate has never been so cheap as the exchange rate to the US dollar, Euro and Pound hits record highs this week. Brazil Beach House is receiving more and more beach property inquiries from foreign buyers. Most of you are first-time house buyers in Brazil and not familiar with how to purchase real estate in Brazil so I have put together this easy step by step guide.
So you have been doing your research, checking out the options on-line and you have found your dream Brazilian beach house at a brilliant price in hard currency. What happens next?
How to Buy A Beach House in Brazil in 30 days
-5 Easy Steps
1) Assuming you are able to get over to Brazil, you have seen the property and still want to call it your own… You put in an offer with your Brazilian real estate broker and the owner accepts.
First step completed! Day 1.
2) The broker will draft a purchasing agreement, outlining the terms and conditions of purchase. If you are happy with the details you can sign the agreement and scan back for counter signature. On signing you are normally required to transfer a 10-20% down payment direct to the sellers account in Brazil or to an overseas account if the owner is a foreign national without a Brazilian bank account. Step 2 should take around 5 days.
3) The documents will be prepared by the estate agent and /or an appointed attorney. Documents will include the title deed and tax clearances on the property plus tax clearance certificates for the sellers ( municipal, state and federal ). Your Brazilian estate agent ( normally ) will arrange the transfer tax slip for you to pay. This is issued by local government and is between 2-3 % of the property value. Step 3 should take 15 days.
4) Providing that the documentation is all fine, all outstanding taxes have been paid and you the buyer have paid the transfer tax, the deed is issued by the notary office. You can prepare the transfer of the balance to the seller in time for the visit to the notary where you will sign the document in person. *** See below for Notary fees *** Step 4 should take 10 days.
You are 95% done !
The deed is then publicly registered at the notary where the property is located. 100% !
This can take 5 days.
5) 30 days on and you have just bought your dream house in Brazil so it is definitely time to break out the bubbly and celebrate in the Brazilian sunshine ! Congratulations !!
This is meant to be a super easy guide to buying a house in Brazil. The process can be more complicated and last longer depending on a number of things ie if the property is financed, if you need a power of attorney, if the property is located on the coastal zone and subject to additional tax, if there are some issues to be resolved with the documentation, hold ups with the bank transfers etc
That is why it is always a good idea to have an someone with local knowledge and experience of the Brazilian real estate process, in your corner whether a real estate broker or real estate attorney.
Are you thinking of buying a property in Brazil this year?
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Do you have any questions I can help with?
If so leave a comment below and I will get back to you.
Mike Smith
Real Estate Agent in Brazil
15 Years Helping Foreign Investors Buy Brazilian Beach Homes
www.brazilbeachhouse.com
***Notary fees including deed and registration are covered by the buyer and come to between 2.5-% of the property value so total closing costs for buying a house in Brazil come to around 5-6% in general.
