The purchase and registration of real estate in Venezuela.
Margarita Island, one of the few places in the Caribbean where you can without any restrictions to buy the property as a foreigner.
Tourists from Russia get a tourist visa (multiple, valid for 1 year), allowing a stay of no more than 90 days per visit. This is sufficient time to understand whether you are attracted by this place for living or investment. If you need more than 90 days, you can easily leave for a day trip to nearby Trinidad and Aruba, and when you return, «get» the next 90 days.
If you plan to stay on Margarita even longer period of time, you should ask for a receipt of the residence, from which issued «sedula», which is the identity in Venezuela. Receipt «seduly» not such a complicated process, but it does require the advice and assistance of counsel. Residence and sedula should be updated every five years.
Real Estate Search
If you do not know Margaret, we recommend that you first spend 2-3 days to overtake the entire island. In addition, you can read about our recommended zones and see the map. To look at the island, you can use our services and we will be happy to tell you all the advantages and disadvantages of each of the zones. We strive at all times be at your service, but better if contact us to schedule a meeting.
Water.
When you choose a property on Margarita, you should know that the water here - it is not granted. The island receives water from the continent. However, the pipe is already old and does not fully satisfy the demand increasing number of people living and visiting Margarita. Leaks also complicate the situation. Therefore, water is supplied to various parts of the island on schedule 2-3 times a week. This means that you need to take care of water tanks, which will be filled in the days when the water will be supplied to your home. If you have a big enough tank, it will satisfy your needs without any problems.
Some homes do not have a connection to a central water system. In this case it is necessary to fill the tank by means of special trucks equipped with tanks. You must learn about the water system and the amount of the water tank before buying the house.
Tips.
Before you buy a property, you should know the following:
- Not recommended to pay for your house here on the ground. Bank interest rates are high (about 18% per annum), but as a foreigner you will not have sufficient assurances from the bank. Therefore, try to pay for your purchase from other countries.
- By law, all prices are advertised in the local currency - bolívares. Payments in other currencies is possible, but only in another country. If you have questions about this please contact us and we can help you.
- Sometimes, the seller announces the price is not disclosed to the their broker. This can create embarrassing situations, so do not be surprised if the same object has two prices.
- If you do not plan to be here full time, the question of payment of bills for utilities (electricity, water, telephone, etc.) can be resolved without your involvement. Counsel of our company or broker can help you with this.
- Your property may be rented in the time when you are here. If you own a nice house or apartment, you can expect that they will give up 80-150 days a year.
- For your property need to look at the time while you are away. If your house is located close to the ocean, it is necessary to organize regular ventilation. Also, it is necessary periodically to let the water through pipes to avoid corrosion. New homes usually have a plastic tube, is not prone to corrosion.
- Property insurance can be important, please let us know and we skontaktiruem you with the insurance companies.
- Translation of documents. It can be done on the spot, but you should know that the only documents recognized by the Spanish legal
Before you buy real estate.
The most basic thing you need to buy - this is the passport number of RIF (a number unique to the taxpayer - is assigned to you in SENIAT after completing a special form of NIT-N-15) and of course money.
Number of RIF, you can easily tell from the specialists of our company or independently. When you visit the office SENIAT not wear shorts, t-shirts and shale. While on Margarita very informal atmosphere, you should always be dressed appropriately when dealing with banks and official institutions.
Once you have chosen a suitable property, the lawyer should check that the property is not encumbered and not in the mortgage, and that it is not sold to other people, that the owner actually owns, etc. This, as you know, it is extremely important. Contact us and we can give you a lawyer, who can be trusted.
Buy real estate.
STEP 1.
The first step called «Opcion de compra». The agreement legally binds the seller and buyer. You are not obliged to do this step, although many prefer to do it, because thereby notarially fixed price and agree to buy or sell a specified object.
Normally, when signing this agreement, paid 10-20% of the cost. Most of the time payment is made by transferring money to the seller. Payments directly to the seller is considered to be normal in Venezuela and you do not pay a third party, as in many other countries. This is a risk for both: for the buyer and seller. Everyone should be confident in carrying out the obligations the opposite side. We can help you do it safely through.
Price is always, in all documents indicated in the local currency - Bolivar. You can arrange for payment in another currency, but this information is nowhere to be officially included.
Following the signing «Opcion de compra» a notary, you and the seller are required to buy / sell property. Although at this stage you are not the owner.
STEP 2.
Usually, you can sign the final contract of sale within 3-10 days. It may do so more quickly, but do not try too much to accelerate the process, it is better to check everything carefully.
To sign a document you go to «Registro» and can pay the remainder of the amount (or to guarantee payment of the buyer). Now you are an owner of property and get all the documents proving this fact.
There are shorter versions, you can do without a first step, and to pay the entire amount at once. You can also give the attorney power of attorney and he will buy it for you. You should not be nervous and rush, spend on the purchase as long as you feel necessary. Take care only to those people whom you trust and who possess complete information about the process.
Expenses.
The buyer pays the costs associated with registration and the registration of real estate through a lawyer. This will be from 1 to 3% of the cost of your purchase. The seller is obliged to repay all debts on their property before the sale, if any.
After buying.
Once you have bought real estate, it is desirable to make the new owners name in all instances, namely:
Catastro - municipal taxes on property
Seneca - a company supplying electricity
Condominio - Payment kondominimuma
CANTV - telecommunications company, telephone services and Internet
Hidrocaribe - water
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