Originally posted by ParaibaDouglas You must have a sales contract that clearly states the full details [...]. The contract must have all points clearly defined [...] the price being paid, the terms. It is best to have the contract registered at a cartorio with both signatures validated.

Question: with the attempt of Brazilians to circumvent taxes and declare a lower purchase price than actually paid, how do you do that in this case?

As for me, I probably will move all money first to my own B.B. account and then transfer to the seller. However, there is some limit and not sure how to circumvent that limit. Probably I need to go to the agencia directly. Which might be difficult if the agencia is not at the place of closing?

Anybody running around with a suitcase of cash to bring to closing?

Originally posted by Gringo.Floripa First of all, thanks for that amazing and informative post Douglas!Second, do you have a link or some way to verify what you wrote below?  Interesting.... Originally posted by ParaibaDouglas If the buyer and seller are both non Brazilian citizens it is legal for the funds to Not enter Brazil. Otherwise they are required to.

I second the thanks for the great post.

Great!!! I intend to sell to a European an have them wire Euros to my US bank account. (When the time comes.) Years away...

Edited by GreatBallsoFire - 20 August 2012 at 14:03

Well.. the process is in movement. I hope this doesn't turn out to be anything from hell.

Squiddie, after saying that in the last post, someone on here (I think GBF) said that the government took some land by eminent domain, and they paid the values on the tax roles. So if the market value was really much higher, they lost a lot of money. Much better, I think to keep the escritura to market value. Pay a couple hundred more in IPTU, but good insurance - especially or the type of deal you were talking about last week.

Originally posted by Squiddie Checking certidões negativas is a responsibility of the buyer, how could it be different? It's not actually so different from the US process. Except there is no "Title Company" involved. If you were to make a purchase by quit-claim deed in the US you would have the same situation to check all title records and claims and restrictions on the property.

The cartórios do it here for an extra fee (R$$$$$$$).

Originally posted by Gringo.Floripa

First of all, thanks for that amazing and informative post Douglas!Second, do you have a link or some way to verify what you wrote below? Interesting....

Originally posted by ParaibaDouglas

If the buyer and seller are both non Brazilian citizens it is legal for the funds to Not enter Brazil. Otherwise they are required to.
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Aloha GF, I had a Central Bank reference for this from a couple of years ago but the link was dead, am looking and will advise.

http://www.bcb.gov.br/

There are others here that are much better than I am at digging for legal references, hopefully they will see some of these questions and chip in their talents!

I had a ton of great references lost in a computer crash, and a backup crash.

Edited by ParaibaDouglas - 22 August 2012 at 19:58