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Uruguay Expat Forum

Purchasing New Apartment

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capnev
10/18/2016 18:37 EST

Is it possible to purchase new apartment from builder? Would I save
realtor commissions?

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focus
10/19/2016 22:18 EST

You might be able to save a little on the commission but check there is usually a 5% additional charge upon taking a new apartment. Still may be a deal, but know all your costs beforehand.

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capnev
10/20/2016 14:29 EST

Thanks, what costs/fee should I ask about?

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focus
10/22/2016 11:46 EST

gastos de ocupación

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Pancho
10/24/2016 05:55 EST

Usually builders use realtors to sell their project in advance. At the project stage you would get a better price, because you would be forced to pay cash in advance the full price and receive the apartment about one year later. This is the difference with locals. They can purchase on credit signing a mortgage with a bank oaying monthly rates. This possibility is too complicated for foreigners who do not have a local income and do not have approved residency for a couple of years with a stabile local income. If the income is from abroad there will be many bank references necessary and legalizations of proof of income and this will not be a guarantee that you would be able to sign a local mortgage.

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