BRAZIL

Buying property in Rio de Janeiro

Purchasing real estate in Brazil as a foreigner presents unique opportunities but requires careful navigation of local regulations and procedures. Here are the key steps to ensure a safe and successful property purchase:By carefully following these steps and securing legal advice where needed, you can avoid pitfalls and successfully purchase property in Brazil.

Decide on Legal Assistance: Depending on your familiarity with Brazil, you may choose to hire a lawyer, especially for large investments or complex transactions.

Obtain a Brazilian Tax ID (CPF): A CPF is essential for conducting most financial and legal transactions, including real estate purchases in Brazil.

Find the Ideal Property: Once we have established your property search parameters, we'll put together a short list of best-in-class options.

Check Property Records: We will verify the property's legal standing by obtaining an official copy of the property deed directly from the registry.

Make an Offer: Price research and negotiation are crucial. Be aware of cultural nuances in the process. We will run through this with you.

Draft Purchase & Sale Agreement: We'll ensure the agreement covers all terms and allows sufficient time for closing. It’s important to avoid pressure from realtors to rush into signing.

Prepare Documents for Acceptance: Documents must be sworn translated into Portuguese and possibly legalized via Apostille.

Obtain a Power of Attorney (POA): A public POA is necessary if you wish for a representative to handle the transaction on your behalf.

Provide a Downpayment: Downpayments typically range from 5% to 15%. Keep most of the funds until the closing to mitigate risk.

Obtain Certificates for Property and Seller: We will get all required clearance certificates to verify the property's, and seller's legal statuses.

Prepare for Closing: Organize all necessary documents and ensure that taxes and fees are paid ahead of time.

Pay Registration & Taxes: Be prepared to pay transfer taxes (ITBI) and other related fees, generally totalling 4% to 5% of the property's value.

Have the Public Deed of Sale Reviewed: A lawyer should review the deed to confirm the property's details and ensure there are no hidden liabilities.

Attend Closing, Pay Balance, and Record Deed: The closing will occur at a registry office, where the final payment is made, and the property title is officially transferred.

Record the Deed: After the closing, ensure the new deed is registered in your name. An official copy will be provided within a few days to weeks.

We can search, source, and provide the very best property options available for you before negotiating, securing and moving you in.

To find out more, contact us for further details.