Print Friendly, PDF & Email
How to Buy Properties in Brazil

How to Draft a Purchase & Sale Agreement for Real Estate in Brazil

This agreement is a first step towards the transfer of ownership. It creates the assumption and expectation of the ownership transfer, but it doesn’t automatically entitle you to the ownership (other steps are required).

The Purchase & Sale Agreement document addresses not only price, terms of sale, but also the timeline for the transactions and allocation of obligation and right to the parties. Contracts will almost always be drafted in Portuguese and local currency although they can be translated so you understand the content.

When buying a low-cost property, you may consider using a Purchase & Sale Agreement provided by the seller's realtor as a start point. Have a lawyer review it to make sure it is reasonably fair and not too one-sided. For higher-amount properties, you may want your lawyer to draft the initial Purchase & Sale Agreement since this would give you flexibility to address most of your needs and also bring you maximum protection against common risks of buying real estate in Brazil.

Among other concerns, stipulating at least 30 days between the signature of the agreement and the closing to allow enough time for all the checks on the seller and the property to be completed and for you to have the balance of the funds moved to Brazil. Never allow a realtor to rush you. Realtors will usually suggest that you may lose the property if you don't act soon, but remember that the sooner you provide payments the sooner they will collect their commission from the buyer.

Timeline:

  • If seller is willing to draft one (usually the real estate agency will do), this could save you money since you won’t have to pay a lawyer to draft it. Having a lawyer reviewing the seller's draft agreement is advisable since it will obviously drafted favorably to the seller.
  • For higher amount acquisitions, you may want to consider paying a lawyer to draft the initial version according to your specific needs.
  • A standard agreement can take between 2 to 3 days to be drafted. A well thought agreement, on the other hand, should take between 5 to 10 days

Become a Pro in Brazil Real Estate!

To learn all about purchasing real estate in Brazil, check our How to Buy Properties in Brazil guide.

Learn about the advantages of buying real estate in Brazil in our Why Buying Real Estate in Brazil guide. Find opportunities and decide where to buy using our Know Where to Buy Real Estate in Brazil guide.

Free Quote
info@oliveiralawyers.com
+55-11-4349-1915 Brazil
+1-212-300-7174 USA
Get a quote today!

This content is intended  for general information purposes only and does not constitute legal advice. For legal issues or decisions of any kind, the reader should retain and consult legal counsel. You should not act or rely on information at this web site without first seeking the advice of an attorney. The determination of whether you need legal services and your choice of a lawyer are very important matters that should not be based on web sites or advertisements.