Response to Sidney's post
But you need to add a much higher percentage for AR country risk, vacancy, taxes, and repairs. Personally, I woudn't buy it unless I netted 15-20%! Don't dismiss that we are in the midst or a severe decline in world real estate prices. Forget the ''giddy''days of the last several years.
This makes sense and if we use a 15% hurdle rate, a property that sells for $400K would have to yield $60K in annualized rental revenue (or a whopping $5K per month) What can you rent in B. Aires for 15,000 pesos per mes?
Thoughts well appreciated supporting purchasing (Tu compras) property in be. Aires. Even a $80K place in San Telmo.
Jaggar
AR next econom crisis & amp; RE land value
Greetings,
Considering the seeming inevitability of the nex AR economical crisis, what are forum readers views and experience regarding the possible decline of real estate values then? Particularly I am interested in attractive land, like northern Pagagonia, and such.
Many thanks!
English comon law and most jurisdictions in the USA
Recognize squatters' rights, but have methods to more quickly determine whether the title holder has lost thier rights to the property or still maintains title to the property. The difference is that it takes 5 to 7 years to resolve this type of situation in Argentina. In Florida you might need 6 months to one year.
Assuming both sides have competent attorneys.
This court system and sqatter's rights are the real reasons why there are not mortgages widely available in Argentina. Mexico and Brazil changed their laws over the last few years and magically a broad based mortgage industry was born in both countries.
Requirements for selling a home
I wasn't able to find anything about this with my ability to search the forum for it.
I am a US citizen. I don't have resident status in Argentina. I stay there 6 to 7 months per year.
I own 2 places in Bs As and want to sell one.
My accountant in Bs As has told me that the AFIP requires a "certificado de residencia en el exterior" to sell property and without this certificate, I can't sell it.
I have to get this certificate from, in my case, the Argentine consulate in Los Angeles.
I don't own or rent anything in the USA. I stay with friends the 2 to 3 months of the year I am there. I use their address for my USA mailing address. I don't receive any bills, or anything else at this address, that the consulate will accept as proof of residence and so they won't give me a certificate. The person I talked to at the consulate also told me that I don't need this certificate to sell property.
I don't know whether my accountant, or the guy at the consulate is mistaken, so I don't know what to do next. The accountant insists that I must have this certificate.
Any non Argentine resident who has sold property there have any ideas?
Thanks