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

This agreement is the 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.

Accept a Template Agreement or Have a Lawyer Draft One?

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 the flexibility to address most of your needs and also bring you maximum protection against common risks of buying real estate in Brazil.

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Do Not Accept Rushed Closings!

Among other concerns, stipulate at least 60 days between the signature of the agreement and the closing. You should have enough time for all the checks on the seller and the property and, equally important, for you to have the balance of the funds successfully transferred to Brazil.

Realtors in Brazil are Trained to Rush Buyers

Never allow a realtor to rush you. Realtors in Brazil will almost always suggest that you will lose the property if you don’t act soon. Curiously, there will always be another interested party ready to place a bid. The true reason is that realtors want to secure the deal and collect their commission asap. They will chase you and not rest until you either sign a contract or tell the realtor you don’t like to be rushed.

Timeline:

• If the 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 review the seller’s draft agreement is advisable since it will obviously be 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

Watch our YouTube Video “Draft a Purchase Agreement for Real Estate in Brazil”

A couple of minutes of watching this video can save you from wasting hundreds of thousands of dollars. Watch it now!

And, don’t forget to access our complete Buying Real Estate Properties in Brazil YouTube playlist.

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.

Purchase Agreement in Brazil?
We Can Help You

[email protected]
(214) 432-8100
+55-21-2018-1225

#1  Contact us to get a free quote, or
#2 Schedule a Consultation now.

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