Foreign Ownership
Foreign investment is present in Argentina in compliance with the official law and tax regulations imposed by the government. These requirements are flexible and easy to apply for.
Remuneration
Commission and professional fees are freely negotiated and set by the interested parties. Customary practice is charging each party separately, Seller and Buyer, 3% as the commission fee applied to the total value of the transaction when real property is sold and 5% when real property is rented or leased. Up to 4% could be charged to the Buyers when a transaction if of smaller value. For significantly higher values it is reasonable to receive a 2% commission from Buyer or the Seller. The compensation agreed upon can be paid as a professional fee or as a commission depending on the services provided. Compensation is paid when the transaction is executed. Funds management is usually done with the participation of a banking institution. When a Real Estate purchase and sale contract is executed the services of a Public Notary or Escribano, a figure comparable to a Real Estate Lawyer, are always present.
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Land Registration System
One hundred percent of all Real Estate transactions are registered at the Office of Real Property Records. The Pubic Notaries/Escribanos participating in each transaction are individually responsible to enter the respective information, i.e. one for the Buyer and one for the Seller involved. At the present time the Public Property Registry, is fully computerized and efficiently managed by a state agency
Relationship of Buyer/Seller to Practitioner
The interested parties sign a document called Selling Authorization, where the owner agrees, in writing, to grant permission to the Real Estate Agent to market a property. All conditions are set forth in this document, namely: price, form of payment, terms of authorization, commission fee and all other details regarding authorization. The usual parties involved in this type of contract are: a Seller/Owner and a Realtor. The relationship with a Buyer begins when the interested purchaser offers a price to buy a property. In most cases, a deposit and a document clearly spelling the mutually agreed terms and conditions is made and accepted, in writing, marking the start of negotiations with the owner. When both parties reach an agreement, a reserve is deposited and a date agreed for the preliminary sales contract to be written and to proceed and prepare the title transfer. It is not mandatory to sign a selling authorization; however it is usually done as a means to guarantee and protect exclusive rights.
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