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How to Prepare for a Real Estate Closing in Brazil

Closing usually takes place at a "Cartório" (Registration Office) with the presence of both seller and buyer. Some buyers or sellers will have an attorney participating on their behalf through a Power of Attorney.

For buyers residing abroad, a POA may allow a Brazilian attorney to handle the entire purchase process on their behalf. This may be advisable not only to save a trip for the buyer but mainly to assure that a professional is making sure all the aspects of the closing are occurring legally.

Preparation for the closing includes these and more:

  1. Make sure the bulk of the payment is available to be handed to the seller at closing
  2. Make sure all the clearance certificates on property and seller were obtained
  3. Make sure the "Escritura" (closing papers) were properly drafted and are ready for signature.
  4. Make sure there are no pending activities between seller and buyer.

The registration must be scheduled with some upfront notice.

Timeline: the registration act is usually scheduled for 2 to 4 weeks upfront (depending on how anxious the buyer is to receive the final payment he/she may work with the registration office to significantly reduce this timeline). The registration office will expect the property buyer to pay several taxes and fees before the registration date. If the seller fails to pay the amounts requested by the registration office, the originally offered date will be postponed until payment is provided.

Legal Advisory in Brazil
info@oliveiralawyers.com
+55-11-4349-1915 Brazil
+1-212-300-7174 USA
Schedule a Consultation Now

 

 

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.

Legal Advisory in Brazil
info@oliveiralawyers.com
+55-11-4349-1915 Brazil
+1-212-300-7174 USA
Schedule a Consultation Now

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Legal Advisory in Brazil
info@oliveiralawyers.com
+55-11-4349-1915 Brazil
+1-212-300-7174 USA
Schedule a Consultation Now