Andy,
Just to clarify, do you mean to say that as and when the Escrow agent transfers money to Brazil, the Central Bank of Brazil records the sum paid by 'us the investors' against our name(s)?........ so that it's there to refer back in future?
By the way, some of these developers are again based in Europe.... Will they necessarily have to transfer 'our' funds to Brazil !!
Gee
Quote:
Originally Posted by andyk2
Hi Oli et all. The reservation deposits are going to either Legalex or Manzanares, where they are held in Escrow (ie perfectly safe). They stay there until contracts are signed and balance of deposits are paid. Thereafter, all the money is transferred to Brazil and registered with the Brazilian Central Bank. This is to ensure that the amount shown on the escritura is the same as you are paying for the property.
Please pm me if you want me to call and talk this through.
Andy
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