If you’re considering buying or selling real estate property in Cusco, you’ve come to the right place. At F2F CUSCO, we understand that this process can seem overwhelming, but we’re here to guide you every step of the way. Our goal is to provide you with the information and support you need to make your transaction a success. Below, we present a complete guide to the essential requirements you should consider in the process of real estate buying and selling in Cusco.
Real Estate Registration Certificate (CRI): Ensuring Property Security
The Real Estate Registration Certificate, issued by the Public Registries, is an essential document for both buyers and sellers. It provides detailed information about the property, including data about current owners, property features, encumbrances, and pending registration titles. When submitting the notarized draft, make sure to include this document to ensure property security and a smooth transaction.
National Identity Document (DNI) and Crucial Details
The involvement of all parties is vital in the buying and selling process. If the parties are married, it’s essential that both spouses sign the notarized draft and the public deed. Additionally, pay attention to details such as outstanding electoral fines and the expiration date of DNIs to ensure their validity. These procedures may seem simple, but their proper execution is critical.
Summary Sheet (HR) and Urban Property (PU): Knowing Your Property Inside Out
The Summary Sheet and Urban Property documents are issued by the corresponding district municipality. The HR provides information about the address, use, and regulatory value of the property, while the PU details relevant aspects such as construction, materials used, and square meters. Make sure to have copies of both documents when submitting the notarized draft for a seamless transaction.
Non-indebtedness Certificate: Ensuring a Debt-free Transaction
It’s essential to ensure that the property has no outstanding debts for property tax or fees. The Non-indebtedness Certificate certifies this condition and is obtained by the seller through the relevant municipality. Avoid legal and financial issues by ensuring that no debts exist before the signing of the public deed.
Purchase and Sale Draft: The Vital Document of the Transaction
The purchase and sale draft is a cornerstone in any real estate transaction. It requires the signature of the parties involved and a qualified lawyer. It meticulously details the property, parties, marital status, addresses, date, price, and agreed-upon payment method. Presenting it before a notary is essential to ensure the legality and validity of the property transfer.
Last Transfer Testimony: Ensuring Legality
If you’re acquiring a property through a financial institution, you’ll need the public deed of the last property transfer. This ensures the legality of the transfer of ownership. Keep this document on hand to avoid complications in the buying and selling process.
Fulfilling Taxes: Duties and Obligations
Both the seller and the buyer have fiscal obligations in the process. The seller pays income tax, while the buyer fulfills the payment of «alcabala» (a transfer tax). These payments should be made after notarial review and approval of the necessary documents. Fulfilling these fiscal obligations avoids delays.
F2F CUSCO Services: Your Real Estate Partner
At F2F CUSCO, we provide you with a team of highly trained advisors with an in-depth knowledge of the local market. Our services include property search and selection, guided visits, expert price negotiation, and ensuring a secure and legal contract signing process. We also specialize in property regularization in Cusco.
Contact Us Today!
Don’t wait any longer to start the search for your new home in Cusco. We’re excited to work with you and help you achieve your real estate goals! Contact Us!
Frequently Asked Questions
- Why is the Real Estate Registration Certificate important in a transaction? The CRI ensures property security by providing key information about the property, including owners, encumbrances, and pending titles.
- What documents do I need to prove the marital status of the parties involved? In cases of marriage, both parties must sign the notarized draft and the public deed. Verify the validity of DNIs and outstanding electoral fines.
- Why is having the Last Transfer Testimony crucial? This document ensures the legality of the previous ownership transfer, supporting the current transaction. This document is essential when the buyer requires a bank loan for the purchase.
- What are the fiscal obligations of the buyer and seller? The seller pays income tax, while the buyer fulfills the payment of «alcabala,» unless they are purchasing a new property.
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Enrique L. Gonzalez
+51 951 066 165
CEO F2F CUSCO