Legal Proceedings for the purchase of properties in Chile

In accordance with the laws of Chile, foreign citizens without residency in Chile have equal rights with residents of the country in the purchase of real estate in Chile. In particular, can purchase unlimited in amount of land for any purpose, apartments, villas and other properties without any restrictions.

Required documentation when you make the real estate to a private person are: a unique number of taxpayers in Chile, tax Chile issued a passport.

When registering for the legal person is required: the constituent documents for the company, the unique number of the taxpayer in Chile. Under the current law the executive director of the buyer must be a resident or citizen of Chile.

The procedure for registration of real estate in Chile

Before the transaction notary provided an extract from the register of "clean" facility, in the statement reflects the presence / absence of a mortgage at the facility, the right to use the object of others, a ban on the sale of open trials, and confirmed the object of the particular person - the seller. In Chile, the notary is materially responsible for the transaction.

The transaction is executed in several stages:

1. Signed a preliminary contract of intent to buy, time-bound final signing of the treaty.
2. Audit documentation.
3. The signing of a definitive purchase agreement.
4. Audit documentation and registration of the object in the registry of property to the buyer.
5. The final payment for the seller.

*At the request of the parties a preliminary contract can not be, by signing a notary immediately final  contract - Notarial deed of transfer of ownership and a right to dispose of real estate.

Terms of payment

Timing and payments from companies, private owners are different. Usually, when it comes to new construction, the payment is divided into several stages. When you pay 100% of the apartments at the time of their initial construction, provide for various discounts. In this case, the law requires the seller to issue insurance to the buyer for the payed amount. When buying a private place after the payment processing facility at the buyer's name in the registry of property.

Fees - Based on the selling price to be entered in the notarial act, defined by the amount of duty on the transaction, bringing the total they account for about 1.5% of the value specified in the contract. When the real estate pre-construction phase the seller is obliged to issue insurance for the payment amount. 

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