Property in Brazil - General buying and selling tips for Brazil

[Dotty]

The money arrives the following day,but then you have to wait for it to go through another system and depending how much you send can depend on how long you wait.From my experience a small amount the following day and a larger amount a few days.Might be an idea to put that on your webpage so that people can have a better picture.

[FCZ]

Originally Posted by robh

If you are thinking of transferring money to Brazil but don't like the exchange rates and fees then click the link below for more information.

Foreign exchange for Brazil property


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Robh,

The government just published a Provisional Bill (MPV 435), originated from the Central Bank, allowing the Real to be internationally traded. That means it will be possible for, for example, an European to buy Reais in his/her home country and send it to Brazil; the transaction will be cheaper and fast. Still will be needed an authorized financial institution to execute it. Probably it will allows to have Future FX between Real and Euro/Pound as well. But that depends on the regulamentation that should be done by the CMN (National Monetary Council) in a near future; But I see no problems there. Another step forward.
The link is below (in Portuguese tough); what matters are articles 7, 8 & 10:
MPV 435

If you look very close, there is a side note by the President (in pencil) saying: "Estou fazendo isto so porque o Robh pediu!" (I'm doing this just because Robh asked for it).

[robh]

Originally Posted by FCZ

Robh,

The government just published a Provisional Bill (MPV 435), originated from the Central Bank, allowing the Real to be internationally traded. That means it will be possible for, for example, an European to buy Reais in his/her home country and send it to Brazil; the transaction will be cheaper and fast. Still will be needed an authorized financial institution to execute it. Probably it will allows to have Future FX between Real and Euro/Pound as well. But that depends on the regulamentation that should be done by the CMN (National Monetary Council) in a near future; But I see no problems there. Another step forward.
The link is below (in Portuguese tough); what matters are articles 7, 8 & 10:
MPV 435

If you look very close, there is a side note by the President (in pencil) saying: "Estou fazendo isto so porque o Robh pediu!" (I'm doing this just because Robh asked for it).

If only I had so much influence...

[Dotty]

God help us!!

[lagarto]

Originally Posted by Investy

When I considered Brazil it struck me than ALL the Brazillian agents kept re - itorating I didnt need a Lawyer.

This really put me off. Us Brits want large capital city law firms to shoulder the risk and manage transfers of money. Any thing less is total loonacy.

I agree that you should use a lawyer to take care of due diligence etc but a lawyer in Brazil has no contact with the money or process of payment.

The money is kept safe by the transfer process in the banks and is governed by the Central bank in Brazil. Money cannot be withdrawn even if it is in the sellers account until full proof is provided of the sale and purchase by contracts and official documentation of the individuals buying and selling.
If this information is not provided at the bank then the money will be returned to the sender within 90 days.
A fully registered estate agent in Brazil with "CRECI" can and is qualified to complete all the due diligence and documentation required to transfer ownership and Title without the need for a laywer and added costs... This is the normal practice in Brazil even if we feel unsecure about it in the UK or America etc.

[robh]

Originally Posted by robh

If you are thinking of transferring money to Brazil but don't like the exchange rates and fees then click the link below for more information.

Foreign exchange for Brazil property


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I forgot to mention that transfers are done using an exchange bank which we have used before many times, but now you have the added advantage of a fixed exchange rate and much faster service.

[ExperienceInt.Dale]

There are some developers that have fixed the sterling price already...and they will take a knock on the exchange rate, NOT the client... although most developers must trade in Brazilian Real as it is all registered through the central bank.. Money corp are probably the best FX service to use at present Moneycorp are probably the best FX company for Brazil Real currency transfer...

With the news of the Brazil government opening to International Trade I am sure this will help significantly and hopefully they can fix future payments so buyers do not loose out due to the strengthening Brazil real....

[ExperienceInt.Dale]

I know some developers fix the price in sterling so you do not have any currency risk, as the Brazil real currency ha strengthen over the pound the last few months I know a few buyers have ended up paying more than they originially were quoted. at the moment Moneycorp seems to provide the best FX service for Brazil money transfer but with the news of the Brazil government opening up to International currency trade this will surely help any potential investors....

[robh]

Originally Posted by ExperienceInt.Dale

I know some developers fix the price in sterling so you do not have any currency risk, as the Brazil real currency ha strengthen over the pound the last few months I know a few buyers have ended up paying more than they originially were quoted. at the moment Moneycorp seems to provide the best FX service for Brazil money transfer but with the news of the Brazil government opening up to International currency trade this will surely help any potential investors....

The only development that I know (and which we sell) that absolutely fixes prices in Sterling is Natal Ocean Club the others I have seen with fixed prices in sterling or euros have clauses that allow the developer to change the price in sterling if the rate changes more than a certain percentage (i.e. 5%) from the date of signing.

Dale -

We advise you to be very, very careful investing in Brazil. Our investment group got screwed over in a rogue land deal north of Natal. And remember, in Brazil, you have no recourse like USA/Europe. The justice system in Brazil is almost non-existent, and if you're a Gringo, forget about it.

Please, move forward with extreme caution.

This is my opinion.