Buying Real Estates in Brazil The only formal demand to buy real estate in Brazil for foreigners is the acquiring of the CPF number (Taxes Holder number). The process to obtain such a number is very simple and fast. The only documents you will need is your passport and an Official document that shows your parents names (can be only your mothers name) If you are going to buy one or more real estate with us we will take care of all the necessary formalities and requirements to do the buy including the CPF number.
Procedures to buy real estate in Brazil.
1) Contract of selling: this is a private commitment between the buyer and the seller on the real estate that is been negotiated. This Contract gives safety and peace of mind for the next upcoming steps which it implies, between other things, the payment of taxes and fees of the municipal courts, resgistry fees, etc... In the moment the parties sign the contract, the buyer gives a good faith payment for the seller. The value of this payment can be an agreement between both but it is in general, according to the practice of the market, a 20 % of the entire value of the Real estate. From that moment, if the buyer changes opinion about the buy, he loses the payment in favor of the seller. In case of the seller be the one who does not want to sell his property any more, he will pay twice the value of the given payment to the buyer, in accordance with the item 417 and 420 of the civil Brazilian code;
2) After this stage, normally in 30 days counted from the signing of the contract, the buyer, seller, and all the required documents for both parties in the negotiation, is presented to a municipal court, which a Public Writing of selling and buying real estate will be published (taking as base the previous signed contract). With this, the buyer will pay the value remaining (80 %) of the real estate, according to the contract.
3) Finally, the buyer will have to take his public writing for a municipal real estate Registry office; this office will publish in the Official registration book. So the buyer will have the property title put in his name, consequently he will be legal owner of it and have all the legal rights on that property. This transference is called in Brazil, transference between live parties. This completes the whole process of buy of real estate in Brazil.
The real estate deal in Brazil is done when the buyer paid the good faith payment (the 20 % down payment). While this not happen, the Real estate can be sold for any person who is interested.
Questions related to the transference of money to Brazil.
To bring money to Brazil it is necessary to justify it. Why are you bring and for how reason? This is done presenting to a bank the contract of selling and buying, described on the first part of this article. This documentt is directed to the Central Bank of Brazil for the "ok" for this operation. That way you can bring the money to Brazil with no Problem and case you sell your real estate later, you can take it back to the oring country.
For a individual person to open an account in a bank in Brazil is necessary to have the CPF and RNE (national record of foreigners); in another words, you will have to apply for a permanent residency in Brazil. We can guide you through this process which is fairly simple and fast. By
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Daniel Cysneiros
