All You Need to Know About Buying Real Estate in Salvador Bahia Brazil2 min read
Buying property, a smooth transaction, and costs.
A smooth transaction
Buying property in Brazil is actually a very clear and straightforward process, but there can be many pitfalls for the unaware. For this reason we only work with reputable developers, estate agents and lawyers to ensure a smooth, safe and efficient transaction. Below we set out information on buying process requirements and costs of property purchase
Financing Mortgages in Brazil are very rare because of high interest rates and most property is bought by full cash payment. In the case of Off-plan property, payment can be spread over a period of up to 5 years.
CPF (tax registration number) This is required to buy real estate or open bank accounts in Brazil. We will be glad to assist you in obtaining your CPF.
Bank accounts can be opened in Brazil on certain conditions and all major banks provide online banking services. We can introduce you to a Bank and help with the opening of an account for you here in Brazil.
Estate Agents We only employ and work with government certified CRECI estate agents.
Lawyers We have for your legal advice a selection of lawyers specialized in real estate, taxes and immigration.
Bahia Real Estates commission charges depend on the services we provide.
Property purchase cost these are the typical transaction costs.
Property tax varies between 2% and 3% depending on the location, this tax being levied on the declared purchase price.
Lawyers and Notary fees are charged for checking certificates and registers, that there are no debts owed on the property, for proofing contracts, advising on obligations and registration of the property in the new owner’s name. This cost varies between 0.2% and 2% of the property value, depending on the type of property. Quotes can be requested on your behalf.
Yearly Running Costs
ITPU local municipal tax.
General, tel,electric, gas, water rates, etc. are about 20% of what they are in Europe.
Condominium charges are between 100 and 400 reals per month, for upkeep, maintenance and security of houses in closed condominiums.
Caretaker for maintenance of garden and pool, between 100 and 400 reals a month.
Housekeeper, for cleaning and cooking, between 350 to 500 reals a month.
The above costs are guidelines to help you plan your budget. When purchasing a property, costs can vary to those stated above depending on property type, size and investment .
more info visit http://www.bahiarealestates.com