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Buy Real Estate in Argentina in 2024 with President Javier Milei. Tips from Buenos Aires Lawyer

Sebastian Limeres is an Argentine Lawyer. Contact LIMERES Attorneys in Buenos Aires: [email protected] Wa.Me/+5491141620021 and/or Wa.me/+19257918555 USA: +19257918555 ARG: +5491141620021 Original Text If you are going to be Buying or Selling Argentine Real Estate please watch this entire video as I am positive that I could save you a lot of time and money, and eventually help you avoid several mistakes and why not overcome many obstacles, as buying real estate today in Argentina couldn’t be a better opportunity with President Milei in office, but it’s also extremely complex to achieve with so many moving parts and variables to consider at the time of buying real estate in Argentina. My name is Sebastian Limeres. I’m an Argentine lawyer licensed in 6 jurisdictions across Argentina, besides holding a license in California from NMLS to issue mortgages, and a license from CA’s DRE to broker Real estate. So, at the time of buying real estate in Argentina while being a foreigner or a non resident there are several points you have to take into consideration and it’s what my team of lawyers and real estate agents can help you with: IN FIRST PLACE, for you to buy or sell real estate you must possess TWO essential things: One is a valid and unexpired passport from any country in the world. It can’t be any other piece of ID as most countries only admit the passport as the sole piece of identification as valid “once you pass the port”! So, make sure you have a up to date, valid and unexpired passport at the time of buying real estate in Argentina or any other country in the world. The second mandatory requirement is possessing an Argentine tax ID called CDI (which stands for CLAVE DE IDENTIFICACION, which is nothing else than an Argentine social security number that is obtained at Argentina’s tax agency called AFIP. SECOND, at the time of buying you have two options in terms of paying the seller. One is paying the seller directly to their dollar account in Argentina, or opening a bank account in Argentina, and this will be unavoidable if your seller doesn’t want to get paid in the USA or anywhere abroad or overseas. The other option is paying your seller abroad, but with both parties using a U.S. or international bank account. The only requirement here is that both accounts must be clearly explained on the deed of sale called “Escritura”. THIRD, Don’t give a power of attorney to a family member, a friend or an acquaintance to help you close the transaction. I want to emphasize with this. Give it only to someone with who you signed a written agreement such as a lawyer who has criminal, civil and professional responsibility for exceeding the scope of what you empowered that attorney to do for you. If you gave a PoA to someone not licensed, a court of law will most probably not hold that person liable because you gave a PoA to someone unqualified and unlicensed to take care of your business affairs. Please Avoid dead ends! FORTH, if you can’t be present on the date that the property is being sold you will have to grant a power of attorney to the lawyer or the person who will represent you. That power of attorney must contain the following basic abilities: ONE, it must possess banking abilities to represent you with the banks that will be involved in the real estate transaction. TWO, the PoA has to grant your attorney the ability to buy (and not SELL) the real estate you’re buying. If you later need to sell, make sure you issue a new PoA, but for now focus on simply granting your attorney the ability to BUY and not SELL. Why? Because unless you bought a property to flip it you don’t need to sell immediately. THIRD, set an expiration date for the PoA. The perfect statement can be that “the PoA will become void 30 days after a first real estate transaction took place, OR on a given date that would sound reasonable after which the transaction should have already taken place”. FOUR, Before you make a formal offer make sure you obtain what’s called Property or Dominion Certificates. They are used to verify the chain of title and they prove that you are buying from the correct Seller on record. FIVE, Appraisals: Make sure you get two official, stamped and sealed appraisals from duly licensed appraisers before you make your last firm offer in writing. Appraisals are inexpensive compared to how much money they will save you making the right offer. SIX, Get translations of everything you sign. You shouldn’t be signing things you can’t understand even if someone is verbally translating the meaning of what you are signing. Ok, so these are the main points you should take into consideration at the time of buying. If you had any additional questions feel free to email me at [email protected] or find my WhatsApp’s in the information section. • WhatsApp USA: +19257918555 • WhatsApp ARG: +5491141620021 Thank you! #argentina #lawyer #attorney #inheritance #succession #buenosaires #estateplanning