Once you‘ve decided which property is ideal for you, follow these steps:
1. Search
Search land or property to our website.
2. Visit properties
Visit properties you want to see.
3. Choose a lawyer
The lawyer will help you complete the purchase avoiding problems and will represent you wherever is needed. He will also do the research on the property at the Mortgage Registry.
4. Choose a notary
This option is necessary, since any transfer of property must be done under the presence of a notary. The notary does not represent either the buyer or the seller, is a civil servant and under his presence the contracts are read, understood and signed. The notary then prepares the draft agreement and is responsible for the certification and registration of the transaction in the public records so that the buyer can receive a deed for the property.
5. Issue Tax Identification Number (TIN)
The buyer must issue a tax number, if he/she does not already have one, in order to continue the process of buying the property.
6. Signing of contract and transfer at the Mortgage Registry
The contract is signed by both parties under the presence of a notary, who will then transcribe the contract at the Mortgage Registry, at the region the property belongs, which will keep a copy of the contract.
7. Payment of transfer tax
The buyer must pay the transfer tax to the Internal Revenue Service (IRS) before the signing of the final contract. In this process a lawyer would be helpful.
