TAXES AND FEES - EXPENSES INVOLVED IN THE PURCHASE OF A PROPERTY IN BRAZIL In general, the costs of purchasing a property include:
1. ITBI - tax for transferring an immovable property which is prerequisite to the granting of Definite Deed of Sale (Escritura Definitiva de Compra e Venda). Its value is 2.0% of the value of the assessment by the Municipality of Fortaleza and paid for the same organ.
2. Definitive Deed of Sale which is issued by the Notary's office of Notes (Cartório de Notas). The value is calculated of the value of assessment by the Municipality (varies from R$ 600.00 to R$ 1500.00 depending on the value of the property) and may be made at any notary of the state.
3. Registry of Property which is issued by the Notary's office of Registration of Property. The value is calculated of the value of assessment by the Municipality (varies from R$ 600.00 to R$ 1700.00 depending on the value of the property)
4. Service agent who may or may not be charged by real estate getting around a minimum wage (R$ 460).
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