Requisitos para comprar una casa en Chile
When it comes to expanding the family, starting a relationship or leaving the parents’ house, we decided that it is time to buy a house or apartment, but we need advice for that. That’s why we present this guide with the Requirements to buy a house in Chile.
Buying a property has always been one of the safest investments that exist, as they are assets that do not devalue, but increase day by day.
Buying a new home at a real estate agency is one of the safest and fastest ways to carry out a property sale transaction.
Interested? Here we go!
Requirements to buy a house in Chile
- It has financing. That is, find a way to pay.
- Find our ideal property. Real estate agents help a lot in this.
- Have all the necessary documents in order.
- Make the reservation agreement.
- Get credit if you need to or have financial solvency if you want to buy in cash.
- Sign the pledge to buy and sell.
- Transaction. Make the deed of purchase and sale to register the house as ours.
Documents to buy a house in Chile
When deciding to buy a new home, it is necessary to have some documents, which will be necessary for the title study process. It is fundamental among the requirements to buy a house in Chile. These are:
- Mortgage and liens certificate: This document is requested from the Real Estate Custodian corresponding to the location of the house, and must be 30 days after its issue.
- (…) Final reception: This certificate is issued by the Works Directorate of the Municipality where the house is located, it is usually provided by the real estate company that developed the project.
- (…) Real estate co-ownership: This certificate states that the condominiums of villas or apartments of 2 housing units are admitted under a real estate co-ownership regime. Most of the document is delivered by the seller.
- (…) From the current domain of the property, provided by the Real Estate Curator.
- (…) Without expropriation issued by the SERVU and the respective Municipality.
- Municipal certificate Urbanization carried out or guaranteed.
- (…) This indicates name of architects, Calculation Engineers and Construction Company.
- Municipal household number certificate.
- (…) Debt contributions from the General Treasury of the Republic.
- Assignment Certificate of Process Assessment Functions issued by SII
- (…) Wedding Buyer with no more than 30 days.
- Domain registrations: It is necessary to present copies of all predecessors in the domain, until completing 10 years, of the property (s) in which the lot or condominium was built.
- If the buyer is a woman and married in a Conjugal Society, he must present Proof of Income (Salary Adjustments, last month’s accounts, Tax Declaration, etc.)
- Company History: If the current owner of the house is a company, he must deliver the company’s history, that is, the Deed of Constitution, a registered and published extract and current powers of attorney.
- The last payment of property taxes.
- Construction license reduced to public deed: It is necessary when buying a DFL2 property.
Co-ownership regulation if the house is in a condominium.
Batch plan with proof of your registration with CBR.
- It needs to be clear that more documents or background can be requested according to the criteria of the lawyer or the company in charge of carrying out the Title Study.
Steps to buy a house in Chile
- Financing. It is important to clarify that the usefulness of this step is to have a reference to the amount that the bank can lend to us and under what conditions it will do it, but in no case does it mean granting a loan on a permanent basis.
- Find our ideal property. Real estate agents have residential projects for all types of people and needs, so the call is an exhaustive search.
- Reserve. We must go to the sales office of the enterprise in question and request the reservation of the house. This will ensure that the real estate does not sell to another interested party or display that property as available.
- Apply for Mortgage Credit. As a result of the quote process for financing options, we already know which bank offers us the best conditions for our credit, and it is time to get closer to completion.
- Promise of sale. This document establishes the commitment to carry out the operation, imposing fines on those responsible if it is not carried out.
- Script Sale. After a brief process, the Purchase and Sale Deed will be drafted. As soon as this document is signed, the bank sends it to the Real Estate Registry Office for registration. And as soon as this process is ready, the property will already be ours.
Firstly, it is important to consider that, by law, all the expenses of the selling a house are at the buyer’s expense. But it costs nothing for a professional, such as a manager or a lawyer, to guide the buyer through the property sale, to do all the procedures correctly.
If the house is mortgaged, the owner should be obliged to cancel the mortgage before buying it or to do so before a notary in the same act of sale and before signing. Thus, the seller receives as a price the result of deducting the amount of the outstanding loan.
When intended buy a house with money, an amount of money is given to the seller as a down payment. It is the deposit agreement for booking the house. If the contract is concluded, this amount will be part of the price to be paid.
Likewise, it is necessary to include the object of the contract with the value of the sale and the form of payment and pay any taxes that may arise from the purchase and sale operation.
While looking for houses and apartments, it is ideal that we look to banks for a loan that allows us to buy the house. This may be our preferred bank, as well as others that offer better options.
“I invite you to quote from banks that offer the best alternatives and rates,” explains Schmidlin, chairman of the FINCO commission.
Once attended by an executive, he will ask for a series of data to analyze his case. Then decide how much they can borrow to buy your home. In some cases, the executive will also request the official quotation for the department he wishes to purchase.
Before buying a house
First, you must select the house or apartment you like most. When selecting a house or apartment, we must take into account the following:
- Before choosing your house or apartment, check the presence of faults in the finishes, windows, doors, furniture, bathrooms, etc.
- Check that the water and electricity are working correctly.
- Check the measures: it is important to require the real estate agent to sign a document stating that the useful meters offered are the ones that our house or apartment will have.
- Also consult the property’s rights and obligations manual for steps to be taken in the event of default.
- Connectivity: it is important to know the location of the house and the possibilities of transportation.
- Green areas and playgrounds: it is good to choose an area close to green areas or parks, especially if you have children or pets.
After buying a house
The last of the steps or requirements to buy a home in Chile is the completion of the Deed of Purchase and Sale. This document will be signed by the parties, who undertake. There is a property right transaction, so this document must be properly registered.
Recommended properties in Chile
This is the list of companies that have the quality certification of Best place to live. saccording satisfaction of your own customers with the service and product they received. Some recommended properties:
- Parque Cousiño Macul is a consolidated real estate development. In 15 years of construction, we have built neighborhoods and condominiums that in their different phases have become references in the municipality. Always taking into account urban development and green areas that protect the nature of the place.
- In early 2011, Inmobiliaria IMSA merged with the renowned and renowned company ADPORTAS, giving rise to the real estate agency IMSA-ADPORTAS. Real Estate Projects Adportas, is a company with more than 20 years of experience in the real estate sector.
- Real Estate Security has a prominent history in the real estate market. Throughout its 20 years of participation in the investment and development of housing and office projects. It is part of one of the largest financial conglomerates in the country. With participation in banks, insurance companies, mutual funds, factoring and other services, it gives you all the support and seriousness you need.
Approximate budget for buying a home
The first thing we are going to tell you is that, before you start with the dream of your own home, it is essential to check the situation of your finances, if you are single it will be an easy task, but if you are with your family you should carefully review the your finance situation.
- The debt terms. All lawyers recommend not to apply for a mortgage loan over the age of 20, although the initial plea is challenging.
- Know your resources well. The first thing you should know is that much of the purchase of a home depends on the savings you have, but also on the income you receive. A good way to calculate the budget is to divide the salary into fixed, personal, entertainment and some future expenses that may appear in some case.
- The importance of the notary. It is common to find houses that although they seem to have everything in order, when checking they are not. The verification of these facts generates procedural expenses that generate a cost.
- Extra expenses. There is something that nobody tells you when you have the idea of buying a house. And that point has to do with the extra expenses that this means. Although it is thought that there are few, they all have a high price, so we suggest adding this item to your financial liquidity.
The first expense you will find is the purchase price, for that you should consider between 5 and 10% of the total value of the house. Then, you will find the formalization of the sale promise, the signatures of the deed draft and later the signature of the final deed of the property. What has a price that varies from 52 thousand to 78 thousand pesos.
But it’s not just that, once this process is completed, the house must be registered in the buyer’s name with the Real Estate Registry Office. This procedure starts at 13,000 with a ceiling of 384,000 pesos.
As if that were not enough, you should consider 10% of the realtor from whom you bought the house.
These are all the requirements for buying a home in Chile that you need to know when considering this idea. We hope it was helpful. If you have any questions, leave us a comment.
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