Guia de imóveis - Buying process

If the parties reach an agreement, they may sign a purchase agreement, in which the property transfer date and the intervening escribano are indicated -see 3.2.4 Escribano's Role-. When signing the purchase agreement, the buyer pays approximately 30% of the total property price (which will be completely paid on the date indicated therein) and the real estate agency receives a 3% - 4% commission for the services rendered.

If the buyer backs out after signing the purchase agreement, he loses the 30% he had already paid to the owner; while, if the seller backs out, he must double the 30% paid by the buyer.

After the parties sign the purchase agreement, the escribano studies all the documents regarding the property. If the escribano finds any problem, the purchase agreement becomes invalid and the property owner must return the amount of money to the buyer.

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In the same section:

Real Estate Buying Process

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  • Purchase Agreement << you are here

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  • Escribano's Role

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