Here is a summary of how to buy a property in Chile. We will expand this guide soon. Meanwhile, feel free to send us your questions by email or using the contact form.
Buying procedure
Buying real estate in Chile is a fairly straightforward process, even if you are not a citizen. With proper planning and a good bi-lingual attorney (unless you are fluent in Spanish), buying your home here can be a hassle-free process.
Here’s what you will need in order to purchase a home or land in Chile:
- The formalized contract (escritura pública otorgada ante Notario and Escritura Pública). These two are lumped together because the contract is usually part of the Escritura Pública.
- The title report for the property (Estudio de Títulos).
- A RUT (Rol Único Tributario) if you are a non-citizen non-resident, or a RUN (Rol Único Nacional) if you are a Chilean citizen or resident of Chile. The RUN is the equivalent to a Social Security number and the RUT is a number used to keep track of foreigners for tax purposes.
Buying restrictions
For the most part, the Chilean constitution guarantees foreigners the same rights as Chilean citizens when buying and selling real estate. There are certain exceptions such as in the case of national security areas. It is best to ask a real estate attorney for more details.
Buying costs
Property buyers must pay lawyers’ and agents’ fees when buying in Chile. Usually, these add up to around 5% to 8% of the purchase price.