Buying an apartment in Buenos Aires with the wrong square meters listed on the title deed (escritura)?

[Target]

Hello everyone,

I’m feeling pretty anxious and could really use some advice.

After visiting Argentina several times over the past few years, I finally decided to buy an apartment in Recoleta. I’ve found the place, and I already have my tax ID number - CDI #. But now, the realtor just dropped a bomb on me: there’s apparently an issue with the apartment’s title. There’s around 50 square meters of space that’s not reflected in the title deed. Supposedly, the current owner bought it with this discrepancy, and the 3 previous owners did as well. This is a very old building.

I’m honestly worried about what kind of risk I’d be taking on if I go through with this purchase. Could I face penalties down the road if the laws change? Or what happens if I try to resell the property — would this become a huge problem? Or will I be able to get the money back? I'm not sure why they are not reflected other than maybe it was just an original mistake from the original deed?

Any guidance or insight would be incredibly appreciated. I’m really stressed about making a huge mistake. I LOVE the apartment but I'm worried if I will be able to get the money back if I sell in the future. I do not plan on selling any time soon. I am buying to live in for the long term. I sold my property in the United States last year and I've been overstaying in BA for the past 8 months but want a place of my own and to get legal soon.

 

[Uncle Wong]

Hello everyone,

I’m feeling pretty anxious and could really use some advice.

After visiting Argentina several times over the past few years, I finally decided to buy an apartment in Recoleta. I’ve found the place, and I already have my tax ID number - CDI #. But now, the realtor just dropped a bomb on me: there’s apparently an issue with the apartment’s title. There’s around 50 square meters of space that’s not reflected in the title deed. Supposedly, the current owner bought it with this discrepancy, and the 3 previous owners did as well. This is a very old building.

I’m honestly worried about what kind of risk I’d be taking on if I go through with this purchase. Could I face penalties down the road if the laws change? Or what happens if I try to resell the property — would this become a huge problem? Or will I be able to get the money back? I'm not sure why they are not reflected other than maybe it was just an original mistake from the original deed?

Any guidance or insight would be incredibly appreciated. I’m really stressed about making a huge mistake. I LOVE the apartment but I'm worried if I will be able to get the money back if I sell in the future. I do not plan on selling any time soon. I am buying to live in for the long term. I sold my property in the United States last year and I've been overstaying in BA for the past 8 months but want a place of my own and to get legal soon.

You should be talking to a lawyer not the realtor! Talk to @BuySellBA. I hired them to help me with my apartment purchase. The owner @earlyretirement is very knowledgeable about real estate and has been buying real estate here for over 20 years. Their Escribano (lawyer) got my CDI # and she did a power of attorney for them to sign for me and they signed my down payment boleto. They are great! I would reach out to them.

Realtors here are terrible. I wouldn't trust them on anything. The realtor has nothing to do with the legal stuff. From what BuySellBA explained to me there is a Central Registry that goes back on the property since the beginning. I wouldn't trust a realtor in BA as far as you can throw them.

www.buysellba.com

 

[Betsy Ross]

You should be talking to a lawyer not the realtor! Talk to @BuySellBA. I hired them to help me with my apartment purchase. The owner @earlyretirement is very knowledgeable about real estate and has been buying real estate here for over 20 years. Their Escribano (lawyer) got my CDI # and she did a power of attorney for them to sign for me and they signed my down payment boleto. They are great! I would reach out to them.

Realtors here are terrible. I wouldn't trust them on anything. The realtor has nothing to do with the legal stuff. From what BuySellBA explained to me there is a Central Registry that goes back on the property since the beginning. I wouldn't trust a realtor in BA as far as you can throw them.

www.buysellba.com

Agree to talk to them and they probably have a great lawyer. When I purchased my apartment in Recoleta I ran into the same situation on some older properties. But just small differences. I don't know how they would miss 50 m2! That is a huge difference. That usually doesn't happen unless maybe there was some common area in the building and that owner maybe took it over. You better get a good lawyer to look at the registry/history.

I avoided apartments with big discrepancies. I guess as long as there is no one that will claim later that it belongs to them I wouldn't be too worried. But you may want to go through permitting process of getting these square meters declared with the city.

 

[ben]

50 m2 is a ton! Why mess around with that property? Is the price good or something? Unless it was some screaming deal. Better to talk to a good lawyer.

I would run not walk out of that deal. I would avoid any title deed that wasn't clear and matched what the official documents say but I don't know how common this is. Nothing seems too organized in this country. I don't think anything is quick here. I would ask the lawyer how long this will take, how easy it is and how much it will cost. I would probably add 1-2 years of whatever estimate they tell you and maybe double the price.

 

[Blockchain]

I just did a Zoom consultation not long ago with @BuySellBA and the owner Mike told me he recently bought a very old PH that had a big mistake on the original deed. It sounded about this size you are talking about. Apparently the PH was over 110 years old and some how they missed all of these sq. meters but it didn't seem to bother him at all and he told me he looked at it as a buying opportunity. He told me that it was a great opportunity and didn't mind. You should talk to him.

He told me that he got an offer shortly after it for $200,000 USD more so it sounds like people are willing to pay or it as long as it's a desirable property. Better talk to Buysellba to ask them about it. They will know.

 

[earlyretirement]

I just did a Zoom consultation not long ago with @BuySellBA and the owner Mike told me he recently bought a very old PH that had a big mistake on the original deed. It sounded about this size you are talking about. Apparently the PH was over 110 years old and some how they missed all of these sq. meters but it didn't seem to bother him at all and he told me he looked at it as a buying opportunity. He told me that it was a great opportunity and didn't mind. You should talk to him.

He told me that he got an offer shortly after it for $200,000 USD more so it sounds like people are willing to pay or it as long as it's a desirable property. Better talk to Buysellba to ask them about it. They will know.

Hi there. Yes, I just bought a PH a few months ago and I knew right away the sq meters was WAY off. Similar to the OP it was off by over 50 m2 from the listing. I know properties very well where I can walk in or even see a video and I know if it's off or not. Usually it has far fewer sq. meters than what the listing agent is claiming. But this time it was way off.

I always get a to scale floor plan when I buy and immediately they confirmed it was off as I knew it was. It's a 111 year building and they must have gotten it wrong from the beginning as the title deed had far fewer. It's a really cool story documented in this article below for the property that I purchased. I believe it's one of the best PH's in Palermo Hollywood with a fascinating verifiable background.

Shortly after buying it, indeed another investor offered me $200,000 USD more for it. I'm doing a $400,000+ USD renovation on it now and it will be amazing when it's done. But it's not always bad to have the meters off but ask an Escribano to verify if it's always been like that. You'd rather have too many vs. not enough.

El increíble PH que fue testigo de la explosión de un barrio: cómo y cuánto vale la joya oculta que se vende en Palermo Hollywood

Se trata de un propiedad de 656 metros cuadrados. Podría reconvertirse en un espacio cultural, hotel boutique o en un inmueble de uso mixto

www.infobae.com

 

[Target]

Hi there. Yes, I just bought a PH a few months ago and I knew right away the sq meters was WAY off. Similar to the OP it was off by over 50 m2 from the listing. I know properties very well where I can walk in or even see a video and I know if it's off or not. Usually it has far fewer sq. meters than what the listing agent is claiming. But this time it was way off.

I always get a to scale floor plan when I buy and immediately they confirmed it was off as I knew it was. It's a 111 year building and they must have gotten it wrong from the beginning as the title deed had far fewer. It's a really cool story documented in this article below for the property that I purchased. I believe it's one of the best PH's in Palermo Hollywood with a fascinating verifiable background.

Shortly after buying it, indeed another investor offered me $200,000 USD more for it. I'm doing a $400,000+ USD renovation on it now and it will be amazing when it's done. But it's not always bad to have the meters off but ask an Escribano to verify if it's always been like that. You'd rather have too many vs. not enough.

El increíble PH que fue testigo de la explosión de un barrio: cómo y cuánto vale la joya oculta que se vende en Palermo Hollywood

Se trata de un propiedad de 656 metros cuadrados. Podría reconvertirse en un espacio cultural, hotel boutique o en un inmueble de uso mixto

www.infobae.com

Thank you for that information. I will reach out to your office to schedule an appointment. Are you in Buenos Aires? I just sent you an email if you can see it. I am eager to get help with this as I really like the apartment but do not want any problems. I would love a referral to a good lawyer. I hope that is provided with the service. Your new house looks amazing. I can't wait to see how it turns out and I just followed you on X.

 

[nikad]

Hi there. Yes, I just bought a PH a few months ago and I knew right away the sq meters was WAY off. Similar to the OP it was off by over 50 m2 from the listing. I know properties very well where I can walk in or even see a video and I know if it's off or not. Usually it has far fewer sq. meters than what the listing agent is claiming. But this time it was way off.

I always get a to scale floor plan when I buy and immediately they confirmed it was off as I knew it was. It's a 111 year building and they must have gotten it wrong from the beginning as the title deed had far fewer. It's a really cool story documented in this article below for the property that I purchased. I believe it's one of the best PH's in Palermo Hollywood with a fascinating verifiable background.

Shortly after buying it, indeed another investor offered me $200,000 USD more for it. I'm doing a $400,000+ USD renovation on it now and it will be amazing when it's done. But it's not always bad to have the meters off but ask an Escribano to verify if it's always been like that. You'd rather have too many vs. not enough.

El increíble PH que fue testigo de la explosión de un barrio: cómo y cuánto vale la joya oculta que se vende en Palermo Hollywood

Se trata de un propiedad de 656 metros cuadrados. Podría reconvertirse en un espacio cultural, hotel boutique o en un inmueble de uso mixto

www.infobae.com

Congratulations @earlyretirement ! This property is beautiful and it is great you are putting so much money into restoring it. That article you posted was very beautiful. Good luck on the renovation.

 

[Larry]

Congratulations @earlyretirement ! This property is beautiful and it is great you are putting so much money into restoring it. That article you posted was very beautiful. Good luck on the renovation.

Very very nice property. Great area! That stretch of Palermo Hollywood has really improved. Tourists love that area. Congratulations on a great find.

Hello everyone,

I’m feeling pretty anxious and could really use some advice.

After visiting Argentina several times over the past few years, I finally decided to buy an apartment in Recoleta. I’ve found the place, and I already have my tax ID number - CDI #. But now, the realtor just dropped a bomb on me: there’s apparently an issue with the apartment’s title. There’s around 50 square meters of space that’s not reflected in the title deed. Supposedly, the current owner bought it with this discrepancy, and the 3 previous owners did as well. This is a very old building.

I’m honestly worried about what kind of risk I’d be taking on if I go through with this purchase. Could I face penalties down the road if the laws change? Or what happens if I try to resell the property — would this become a huge problem? Or will I be able to get the money back? I'm not sure why they are not reflected other than maybe it was just an original mistake from the original deed?

Any guidance or insight would be incredibly appreciated. I’m really stressed about making a huge mistake. I LOVE the apartment but I'm worried if I will be able to get the money back if I sell in the future. I do not plan on selling any time soon. I am buying to live in for the long term. I sold my property in the United States last year and I've been overstaying in BA for the past 8 months but want a place of my own and to get legal soon.

What is the problem? As long as the building administration is not claiming they own the m2 or anyone else in the building I wouldn't care. When I purchased my apartment it also had the wrong # of meters listed. I didn't care as I got the space. There are many mistakes on title deeds. Argentines are not good about being too detailed. Doesn't surprise me. If your lawyer says it's ok I would jump on it if it's a good deal. Or are they charging for the extra m2 at full value? Ask them for a discount due to the error.

 

[Che Vos]

Hi there. Yes, I just bought a PH a few months ago and I knew right away the sq meters was WAY off. Similar to the OP it was off by over 50 m2 from the listing. I know properties very well where I can walk in or even see a video and I know if it's off or not. Usually it has far fewer sq. meters than what the listing agent is claiming. But this time it was way off.

I always get a to scale floor plan when I buy and immediately they confirmed it was off as I knew it was. It's a 111 year building and they must have gotten it wrong from the beginning as the title deed had far fewer. It's a really cool story documented in this article below for the property that I purchased. I believe it's one of the best PH's in Palermo Hollywood with a fascinating verifiable background.

Shortly after buying it, indeed another investor offered me $200,000 USD more for it. I'm doing a $400,000+ USD renovation on it now and it will be amazing when it's done. But it's not always bad to have the meters off but ask an Escribano to verify if it's always been like that. You'd rather have too many vs. not enough.

El increíble PH que fue testigo de la explosión de un barrio: cómo y cuánto vale la joya oculta que se vende en Palermo Hollywood

Se trata de un propiedad de 656 metros cuadrados. Podría reconvertirse en un espacio cultural, hotel boutique o en un inmueble de uso mixto

www.infobae.com

Wow what a dream to own a PH like this. I wish I could do something like this. Beautiful property and I love that area. I think Palermo Hollywood one of the best areas now. All the locals and foreigner people love it.

Better for have too many square meters than less than title!

 

[MilHojas]

Hello everyone,

I’m feeling pretty anxious and could really use some advice.

After visiting Argentina several times over the past few years, I finally decided to buy an apartment in Recoleta. I’ve found the place, and I already have my tax ID number - CDI #. But now, the realtor just dropped a bomb on me: there’s apparently an issue with the apartment’s title. There’s around 50 square meters of space that’s not reflected in the title deed. Supposedly, the current owner bought it with this discrepancy, and the 3 previous owners did as well. This is a very old building.

I’m honestly worried about what kind of risk I’d be taking on if I go through with this purchase. Could I face penalties down the road if the laws change? Or what happens if I try to resell the property — would this become a huge problem? Or will I be able to get the money back? I'm not sure why they are not reflected other than maybe it was just an original mistake from the original deed?

Any guidance or insight would be incredibly appreciated. I’m really stressed about making a huge mistake. I LOVE the apartment but I'm worried if I will be able to get the money back if I sell in the future. I do not plan on selling any time soon. I am buying to live in for the long term. I sold my property in the United States last year and I've been overstaying in BA for the past 8 months but want a place of my own and to get legal soon.

My PH had a few less m2 than what the title deed said. I wouldn't be worried about having more m2 as long as the Escribano says no one will come after you for that and the city won't make you tear down some illegal construction. In some PH's owners put up send floors because the ceilings are high. That isn't declared with the city so they don't show up on the deed. I saw a lot of properties like that and nothing to worry about.