Formalities when purchasing real state

Procedure for foreigners:

The presentation of a valid passport is mandatory when purchasing property in Venezuela.

The deal takes place in the Notary office.

If you require the presence of a translator when the deal is closing, this can be arranged without problems.
To officially register the property in the REGISTRO office, you must have a “RIF” number (“RIF” tax number) which we can organize for you.

Married persons who are not party to premarital agreement should sign the contract in the presence of the spouse.

Once the property has been documented in the REGISTRO office, there is a six working days period to submit the legal hand over. At this time, the new home owner will be accredited full ownership.
 

Form of Payment:

1. Expenses to urbanize the land                              20%

2. Completion of the foundation                               15%

3. Completion of the construction in crude             25%

4. Completion of the roof                                           10%

5. Completion of the interior installation               20%

6. Hand over                                                                10%
 

At the time of each completion, you will receive an invoice that must be paid within 14 days. An 8% bank charge will incurred if invoices are not completed in a month period time.

A sample contract is enclosed for you to view.

You can appreciate you will buy a property at no risk. We, as a cooperative company commit to pre-finance the project. You will pay the final expenses.

We are more than happy to celebrate with you, and a glass of champagne, the purchase of your new home.