Hi,
We moved to Brazil a month ago, we are obtaining the permanent residency based on a Brazilian child, we already go the protocol and now waiting for the ID's.
We are considering buying a house, what are the recommendations and watch out from regarding this topic? few question in mind as well:
- I am opening a bank account now and will be transferring money into Brazil, are their taxes, limits or charges that I need to watch out for?
- When buying a house what are the costs I need to pay in addition to the house price?
- Will I get a finance from the bank given that I am on permanent residency and don't have a job in Brazil?
- Are their different taxes charged on buying the house, if I pay cash or if I prove that the money is not from Brazil, etc.
- What are the charges or costs that I will occur when selling the house?
- How long it takes between signing the initial agreement to buy the house and getting it ready to move in then moving in? including electricity, internet, etc.
Would appreciate your comments.
Regards,
Ahmad
What to be careful about when buying a house?
Hi Brazil14,
Most of what you should need to know is explained here:
https://www.expat.com/forum/viewtopic.php?id=125131
Other things to be careful about when buying a home is to make sure that you obtain from the seller ALL the paid utility bills OR a declaration from the utility company that there are no outstanding debts regarding the account for that address. This is very important since here in Brazil the debt is tied to the address and not to the individual, so you could get stuck paying for someone else's consumption if you're not careful. This goes for electricity, gas, water, telephone, etc., etc.
Also you want to make absolutely certain to verify that there is nobody presently occupying the place before you take possession. There is a "squatter's rights" law here called Lei de Usucapião that imparts ownership rights through peaceful occupation of property of others. It can be almost impossible to evict people who've simply invaded and occupied property if they've been there for a while. It's wise to make certain that the purchase agreement provides for a substantial portion of the payment to be liberated ONLY once you've taken possession.
If you're buying a vacant lot, do your homework. Go to the municipality, Registry, etc., and research lots in the area you're interested in. Sometimes you will run across a piece of land that has not been occupied for many years, the registered owners have died leaving no heirs and the property has accumulated taxes that have gone unpaid. In many cases you can obtain that land and title simply by paying up those unpaid taxes. I sold a house in Belo Horizonte - MG and my realtor was able to pick up the lot beside it, and another behind it in exactly this way, using ONLY the commission I paid on the sale of my house. Had I know about this I would probably have bought both those lots myself.
Cheers,
James Expat-blog Experts Team
Hi James, thanks a lot for the guidance, just moved to the new apartment, everything went well.
So very glad to hear that. Congratulations both on the new baby and on the new home!!! I'm glad that I have played a part in both your permanency process and now finding your home... does an old guy's heart real good to know.
Cheers,
James
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