So, why is the asking price so far below replacement costs?
- The owners had to change plans in regards to moving there to fully operate the property due to health reasons. They are fortunate to have purchased long ago enough to offer this extremely attractive price. Yes, the replacement costs to realize what all is there would be considerably more than the asking price in today's market, so, please know this isn't a distressed sale situation, but, an opportunity to get the new owners off on the right foot to success.
Is owner financing available?
- Not likely at terms that would be attractive to a buyer. A significant down payment would be required and the payment term would be limited. The deed would not transfer until loan is paid in full.
How does a property sale happen here?
- Much like any real estate transaction in the US. It is executed by a local 'escribano', the equivalent of real estate attorney. A contract is initiated, terms for closing are agreed, and signings/transfers/filings are executed by the escribano. Final/stamped/recorded sales documents are availalable after a few months post close.