Buying Land and Property in Argentina: An Introduction

If you are looking into moving abroad to South American and purchasing some land or property abroad in Argentina then you will need to familiarize your self with the restrictions and other quirks that you may not be aware of. Buying land or property in Argentina is likely to be a bit different than your experience of doing the same in your home country. There are conditions that must be met as well as some restrictions involved in the buying of land and property in Argentina.

If buying land in Argentina is your focus you will need to know that there are some restrictions. The most important restriction that you will find involves coastal land and border land. If you want to buy land near the border or a coastal strip of land in Argentina you will first need to have permission to do so from the authorities. You will not be allowed to complete the purchase without it.

When you are looking for land to buy you should remember that the price of land in Argentina is in direct relation to the location of the land and the usage of the land. For instance if you want to purchase land for wine growing it will be considerably more than if you are buying land to raise goats. The same is true for land in a popular place such as Buenos Aires versus out in the rural area. Land is measured by the hectare instead of by acre. The price differences can be around $25,000 per hectare at a high to a low of around $15 per hectare.

If you want to buy property in Argentina you will first need to obtain a CUIL, a CUIT or a CDI. These are different types of tax ID numbers. Remember that it is important to negotiate the price of property in Argentina. In fact, all property in Argentina is purposely overpriced to leave room for negotiation. When you make an offer on a property you will be expected to leave a security deposit, called a reserve de compra, with the realtor.

If the seller agrees on your offer the boleto de compra-venta is prepared, which is the sales agreement. At this point you will need to make a down payment equal to 30 percent of the total cost of the property. If the buyer backs out of the sale, then the deposit is forfeited. And if the seller backs out of the sale then the buyer gets the down payment returned as well as a fine imposed on the seller equal to the down payment amount. The sale will be finalized at the escribano, which is the public notary, where the ownership deed will be given to the buyer. Usually the escribano takes place about 30 days after the boleto is signed.