The property process in Uruguay is obtained following the different steps mentioned here below:
The buyer selects a property and agrees on the price.
The buyer's notary contacts the seller and drafts the first document, the "Boleto
de Reserva" which:
Secures the purchase, committing seller and buyer.
Sets a Penalty if either party breaches the commitment.
Sets the amount that is deposited simultaneously with signing of the Boleto de Reserva (usually 10% of the price), which stays in escrow with the notary that the buyer appointed.
Allows 30 – 90 day window to verify the good standing of the property.
Sets the closing date, when the full price is paid and the property is
transferred.
After signing the "Boleto de Reserva", the buyer's notary verifies the good standing of the property and its title/deed:
Analyses title/deed.
Verifies information in Public Registry.
Verifies taxation, etc.
The notary drafts the purchase document ("Escritura de Compraventa").
The purchase document is signed, the property is transferred and the price is
paid.
The notary records the purchase in the Public Registry.
Purchase transaction Costs for the Buyer
Transaction Costs total approximately 8-9% in Uruguay:
Home 
