Transaction costs, including stamp duty, fees etc. can average at between 3% and 8% of the purchase price. These costs may differ according to location, type of property and the State you buy in. If it takes a significant amount of work to establish title and ownership, the costs could amount to more.
Payment procedure:
- A down-payment for your chosen property of usually about 10%
- Property transfer fees of approximately 4%-5% of the purchase price.
- Payment can often be made all at once or in installments of up to 80 months, but interest rates can be high. If you opt to pay in installments, bear in mind there is also a currency risk: if the value of the Brazilian Real goes down, your property becomes cheaper, and vice versa.
- 1% import tax on the transfer of funds from abroad.
Fortaleza Real Estate
www.realestate.fortalezahomes.com
