Property for Sale in Venezuela
Property in Venezuela - a relatively new area for the overseas property buyer but nevertheless a beautiful area of the Caribbean with breathtaking islands like Margarita with its abundance of lush green plant live and friendly, hospitable locals. Venezuela is fast becoming an alternative Caribbean destination with property prices ranging from a mere £30,000 upwards it offers the investment opportunist or the holiday home buyer an affordable alternative to some of the more expensive island.
Any foreigner can buy a property in Venezuela with just a valid passport, a tourist visa and a Registro de Informacion Fiscal (RIF). The RIF is a fiscal identification for all persons, and can be obtained for free by request at any Tax Administration office or the Servicio Nacional Integrado de Aministracion or through a lawyer. Foreigners may also buy indirectly, through local companies or through foreign companies.
Venezuelan property can still represent a wise investment when compared with other popular more established property markets in the Caribbean like Jamaica, Dominican Republic and the likes of Mexico.
The time has never been better to invest and live here, due to the current exchange rate between the Euro and the US Dollar against the Bolivar (Venezuela's local currency).
When you have chosen a property, inform your real estate agent and apply formally with a written document (informe de la documentacion). Require the real estate agent to be present to assist in the negotiation and closing of the deal, including the mode of payment. The real estate agent should mediate in all negotiations between you, and the seller of the property.
As a foreigner, you will not be able to get financial help in the form of a mortgage to assist you with your property purchase in Margarita Island Venezuela and in the few possibilities where it is possible (on certain developments in construction) the interest rates are so high that it makes it unaffordable. If financial help is required make all these arrangements in your home country before setting off.
Your Margarita Island property agent might also suggest that you open an account with him, for him to pay your Margarita Island utility bills and Margarita Island property taxes when they become due, and to collect any rent due should you decide to rent the property out when you are not there. You will be asked to leave photocopies of your passport and title document for him to change all the services into your name. He will usually charge for this, but at least you will know that they are paid.
