Attorneys and Real Estate Agents
It is recommended to hire an attorney in this process, but it is not necessary.
A good real estate agent can be helpful when buying real estate in El Salvador, but also is not necessary.
Rules, Regulations and Restrictions
Foreigners and native citizens are not allowed to own over 245 hectares in El Salvador. Foreigners are also not allowed to own rural land, unless it is for industrial purposes. Foreigners undergo no restrictions against buying and owning urban property.
First, the buyer must make an offer to the seller, and this must be approved. They must then go to a notary, and the notary will prepare the sales agreement. Both parties shall sign this agreement, and it will be notarized.
The notary will then transfer money to pay the registration fee. The buyer is also responsible for paying the Transfer of Real Estate Tax. The deed for the transfer of the title can then be finalized by sending the necessary documents through the Registry office and then to the Municipality.
All of the properties in El Salvador are required to be registered in the Instituto Libertad y Progreso.