Buying Real Estate
Buying Real Estate in Chile
Buying a property in Chile is quite a complex procedure and should always be accompanied by an experienced advisor and lawyer. Foreigners can buy real estate in Chile almost without any restrictions, even when they are traveling the country as tourists. They have to present their individual Chilean tax number (called R.U.T. , Rol único tributario), which one gets also as a tourist with proof of a local address.
Local real estate agents offer their services, sales signs on the street point to properties and on some websites and in newspapers you will also find properties for sale. It is a good idea to get your own perspective of the market situation. Data about sold properties is not available.
Before signing a contract, even before making an offer, a lot of documentation about or for the property should be investigated. The land register describing the title of the property does not contain all necessary information. Some information has to be checked for a time span of 30 years before.
There are different land registers for property rights and water rights.
The notary does not have any obligation to advise, he is only responsible for the legalization and registration of the purchase contract.