Property in Brazil - General buying and selling tips for Brazil

[JMBroad]

Hehehe ok - and you say you are a long term investor who has been investing in Brazil for ten years?

[Dotty]

Sorry Jim,

Ask a buyer who has lived in Brasil if they use a D.D when they buy property here they will probably not know what the hell it is and think you were crazy.This is a country where you could mark of a piece of land and claim it as your own without even paying for it!But as i said I shall be at the beach tomorrow and inform .I am not a lawyer but I know one thing , the buyers who have used D.D packs on off plans have served little purpose here.So there you go .

Originally Posted by JMBroad

Hehehe ok - and you say you are a long term investor who has been investing in Brazil for ten years?

[JMBroad]

Dorothy,

Actually, no you don't know a thing. Buyers who haven't done their Due Diligence have gotten into trouble, buyers that have had it done won't have.

That's what Due Diligence means. So basically you are saying because Brasilians don't do it, no one else needs to do it?

Perhaps you are a Brasilian agent who doesn't want clients knowing what it is? The more you post the more you sound like someone trying to get clients for your agency.

[Dotty]

Not at all and for the millionth time will you stop assuming that I am this and that!I am British and not Brasilian.The only site that I have seen whereby one talks about a Due Dilligence pack is on here.There are loads of posting if you go into threads of people stating that they have their D.D packs and are following the process etc,when suddenly they are stuck with companies that are in problems and their packs have proved worthless.Now quote me if I am wrong?Also what may work successfully in one country will take time in developing countries.Out of interest what languages are they in and are they produced in Latin America or overseas?

Originally Posted by JMBroad

Dorothy,

Actually, no you don't know a thing. Buyers who haven't done their Due Diligence have gotten into trouble, buyers that have had it done won't have.

That's what Due Diligence means. So basically you are saying because Brasilians don't do it, no one else needs to do it?

Perhaps you are a Brasilian agent who doesn't want clients knowing what it is? The more you post the more you sound like someone trying to get clients for your agency.

[JMBroad]

Doroteia

Did I hit a nerve? Forgive me for saying so but your command and comprehension of the English language indicate that you are either Brazilian or have been out of England for a long long time.

Where have you read about people who have done their Due Diligence being in trouble? I think you are (again) misunderstanding the posts. Those in trouble are the ones who didn't do their due diligence.

I receive DD packs in English and Portuguese however the legal documentation which accompanies the packs is always the originals so they are (for Brazil) in Portuguese.

[RalphJ]

Originally Posted by Dotty

Not at all and for the millionth time will you stop assuming that I am this and that!I am British and not Brasilian.The only site that I have seen whereby one talks about a Due Dilligence pack is on here.There are loads of posting if you go into threads of people stating that they have their D.D packs and are following the process etc,when suddenly they are stuck with companies that are in problems and their packs have proved worthless.Now quote me if I am wrong?Also what may work successfully in one country will take time in developing countries.Out of interest what languages are they in and are they produced in Latin America or overseas?

LOL...Dotty, do you know what due diligence means???

If one does the necessary due diligence that everyone should do before investing, not only here in Brazil but anywhere, then one reduces his chances of getting burned dramatically.

The people that get burned here in Brazil are those that are making bad decisions because they have NOT done the correct due diligence and/or have decided to purchase before all necessary approvals have been received.

Sometimes you make statements Dotty that show you haven't got a clue about many things. And please don't go and say that "Im just trying to sell Brazil", because of all of the people on this forum that are selling Brazil, I would have to say that I am the most "cautious", or others would say "negative", on this board. I am continually emphasizing the dangers of investing, as well as spending time and living, in Brazil.

[Dotty]

Ralph,you are professionals that help sell properties .Now from what I gather the buyer gets his/her D.D. pack and goes through the buying process step by step.Now you mention that people buy without all the approvals well to date are you telling me thhat 1,400 people that reserved on GNG all did their D.D??Please let me know.

Secondly it may be of interest to investors that from 2008 imposta de renda will cancel all CPFs if declarations have not been made up to the given date.Go into imposta de renda for more info.

Originally Posted by RalphJ

LOL...Dotty, do you know what due diligence means???

If one does the necessary due diligence that everyone should do before investing, not only here in Brazil but anywhere, then one reduces his chances of getting burned dramatically.

The people that get burned here in Brazil are those that are making bad decisions because they have NOT done the correct due diligence and/or have decided to purchase before all necessary approvals have been received.

Sometimes you make statements Dotty that show you haven't got a clue about many things. And please don't go and say that "Im just trying to sell Brazil", because of all of the people on this forum that are selling Brazil, I would have to say that I am the most "cautious", or others would say "negative", on this board. I am continually emphasizing the dangers of investing, as well as spending time and living, in Brazil.

[RalphJ]

Originally Posted by Dotty

Ralph,you are professionals that help sell properties .Now from what I gather the buyer gets his/her D.D. pack and goes through the buying process step by step.Now you mention that people buy without all the approvals well to date are you telling me thhat 1,400 people that reserved on GNG all did their D.D??Please let me know.

Secondly it may be of interest to investors that from 2008 imposta de renda will cancel all CPFs if declarations have not been made up to the given date.Go into imposta de renda for more info.

Don't put words in my mouth Dotty. If those that got burned on GNG all did their D.D. then they ignorantly decided to pay monies before all necessary approvals were received. So they have no one to blame but themselves. If they did their D.D. they knew exactly what they were getting into and the risks involved.

It's those that do NOT do D.D. and blindly invest from the armchairs of their PC's in Europe or North America without seeing the necessary documentation, and in many cases don't even know what the necessary documentation is, that normally get into trouble.

[JMBroad]

Doroteia

I'll explain in Portuguese because you obviously don't understand English. For everyone else, don't worry I'm just repeating the same thing that everyone who has a minimum grasp of property investment already knows so you aren't missing anything. Also, everything I'm saying has been stated a gazillion times on the forums anyway.

Talvez seja melhor eu escrever em Portugues porque você obviamente nao percebe Inglês.

GNG foi promovido como uma oportunidade em pre-lançamento, ou seja, as pessoas fizeram um investimento mínimo de cerca de 3000 Euros para que quando o projecto fosse lançado tivessem a oportunidade de comprar a preços descontados. Esses 3000 Euros estao com os advogados dos compradores e como tal o risco que correm e apenas que o projecto nao vai ser construido e que perdem os beneficios que poderiam ter ganho caso os 3000 estivessem sido investidos em outro projecto ha um ano atrás.

Como tal as pessoas foram informados que nao havia licenças nem projecto aprovado e como tal nao era possivel fazer DD porque só se pode fazer DD em projectos aprovados e licenciados. Foi daí que surgiram os problemas. Porque neste momento o projecto está atrasado devido nao só à situaçao financeira do Grupo Sanchez mas também devido às complicaçoes com as licenças ambientais. Às vezes corre bem e às vezes corre mal. Mas quando corre bem os retornos sao muito maiores. É um risco que algumas pessoas decidem correr. Para mim é demasiado parecido a jogar na lotaria e entao nunca faria pessoalmente. Mas até na lotaria às vezes as pessoas ganham.

[Dotty]

Ah yes,but how many investors read it in English anyway and then hand here monies over?It gives advise about what to do and what not to do,but that still shows you how people think and even the D.D does not change some peoples minds.But very interesting.