Property in Recife

Property in Recife, Brazil can be a dream come true for some people. But what is the availability of these properties, can only Brazilian citizens buy property in Recife, and what are some things I should look for or be careful about? These are very important questions to anyone who is looking to buy property in Recife, whether to use as a first or second home, or to use for investment purposes.

Property in Recife may be bought by people or businesses who are not citizens of Brazil. This includes residential or commercial property. There are not very many restrictions on the buying and selling of property in Recife, but there are some restrictions and/or fees that do apply to certain areas, like islands, property that is near an international border of Brazil,marine lands, or rural lands.

One of the best protections in place for a buyer who is interested in property that is located in Recife is to procure a good real estate agent. An agent is very important for a foreigner who wishes to purchase property, as the agent is well aware of local laws, and can make sure that you, as the buyer, receive certain guarantees. A lawyer who speaks your native language is also a very good idea. The lawyer can verify clear title to the property in Recife, make sure that there are no debts or liens on the property, explain in laymens terms your legal obligations according to the contract, as well as the seller’s legal obligations in the contract. A lawyer can also assist in the payment transactions and guarantee that the property is correctly titled in your name after the purchase.

The land registration system in Brazil is secure and well developed, with one centralized registry that carries all information and history for any property in Recife, or property anywhere in the rest of the country of Brazil. This allows for an easier verification of clear title or any liens or debts placed against the property. To buy  property in Recife, a Brazilian identification is required that is called a CPF. To get a CPF, first you need to have your original birth certificate translated into Portuguese by a certified translator. Then the translated copy needs to be legalized by the Brazilian Consulate that is located in your home country. The legalized, translated copy is then taken, along with your passport and letter from the Consulate, to the Banco dos Brasil, where a formal application for a CPF is then done. There is a small fee for the application, and the CPF number is usually assigned the next day.