Property purchases in Venezuela are generally straight forward, and the government’s push for more foreign investment means the buyer has just as much protection s any Venezuelan national would. As always, a local trusted lawyer should be employed to help with all dealings and to help avoid any potential pitfalls a buyer could encounter.

Once a property has been decided upon and a price agreed, and agreement should be signed setting the price and making sure the seller can’t change their mind. A deposit is usually paid of around five to ten percent and legal fees are paid up front, usually of around three percent of the total – this means when the purchase is complete there are no possible legal complications. Once necessary checks and the like have been carried out, the final contract can be signed and the sale is completed. Documentation is registered with the local authorities and any outstanding fees are then paid.

Fees for estate agents, lawyers and notaries vary, but are usually agreed upon early in the buying process.