Penthouse in Ipanema for sale

Property Deposits & Payments Terms

A deposit would be required to secure the property, this is usually a standard from 10% to 20% in Rio de Janeiro of the property price. We would advise that a lawyer is introduced to the transaction at an early stage as its important to know the documents are all in order before paying the deposit.  We can recommend various neutral Brazilian Lawyers in Rio (and in UK or USA if required).

The final payment will be required within 30 days maximum of the deposit payment.  Should you wish to extend the payments slightly, then it may be possible to negotiate with the seller / owner a stage payment plan.

Associated Purchase Costs

In addition to the listed price for the investment, the following costs will apply to your purchase:

• Property Transfer Tax (ITBI) of approx 2% (payable at the City Hall).
• UK / Brazilian Lawyer (optional but recommended) - good lawyer around 1% of property price.
• Admin / Processing (includes all processing costs) £400 (see below)
• Deed and registring the deed costs is about R$ 2000
• In some cases there are can be additional tax on purchases, this will be advised by our local Broker. 

Admin / Processing:  We charge a fee when you decide to proceed with a property.  Before you progress with the purchase or pay a deposit, it is important to see the contract and have it transalated in English.  The 'Admin / Processing' fee is to pay for transalation services, contract raising and other legal document collecting which may be required.  A lawyer can then be introduced and the 10 or 20% deposit paid accordingly.  If you would rather just pay the deposit and await for the lawyers to check the title, then this fee can be waived / not charged.

Rio Property Running Costs

Monthly Utility and other costs directly associated with this property in Rio de Janeiro can be obtained upon request.

Below is a list of utility costs.

• Council Tax (per year) approx 1% of property price
• Water
• Electric
• Monthly condo fee: R$1.200,00

When buying a property in Rio de Janeiro, Brazil it is important that you pay the appropriate council rates (usually around 1% of the property value per year) and condominium charges (if applicable), your home / investment is at risk if you do not keep up these payments. 


Rental / Yield Potential in Rio de Janeiro

We can introduce you to a reliable company in Rio de Janeiro to manage your property (if you so require).  We can also help with estimates of rental projections.  The 2016 Olympics in Rio, increasing tourism and Oil discoveries will ensure the economy in Rio for renting / letting remains strong.