SERVICES BUY | SALE

WHAT YOU NEED TO BUY A PROPERTY

Process on Purchase a Property in Uruguay

Uruguayan citizens and non-residents can buy and sell properties, governed by the laws of the Republic O. of Uruguay.

The buyer and seller brokered by a real estate agent, agrees on the price of the property selected.

The buyer needs to hire a Notary Public* who would perform a Pre-Agreement document.

PRE AGREEMENT (“Boleto de Reserva”)

The Pre-Agreement is a document which the parties (buyer and seller) agree to secure the property for purchase/sale for a period to be determined. Notary will study the deed in a process that normally takes between 20/40 days. The buyer will leave in- escrow the 10% of the value with the Notary.

Once titles are studied, both parts may sign the final sale/purchase deed.

FINAL DEED “Escritura de Compraventa”

Buyer and seller signs the final deed and the price is payed.

The Notary records the purchase on the public domain registration.

TRANSACTION COSTS

Transaction costs for the buyer:

Estate Tax (ITP)
2% of the fiscal value

Notary fees and expenses *
3% + Vat = 3,66%

Real Estate commision fee
3% + Vat = 3,66%

* Notary Public

The purchase property requires the assistance of a Notary Public designated by the buyer.

Live Uruguay Realty will recommend reliable Law Firms/Notaries if required by the buyer.

The Notary will be responsible in the purchase for the buyer interests.