Property Purchase Process In Argentina And Uruguay

“Kathleen, I had a good laugh while reading your book ‘How To Buy Real Estate Overseas‘ and how money was stuffed inside a bra by someone selling property in Argentina to avoid being robbed on the way out.

“It is also true in Uruguay that most or all real estate transactions are cash-only deals. We have spent a lot of time in Punta del Este, Uruguay, and became good friends with a local fellow who was buying property there to build a small condo complex. He was telling us how casual and easy the banking system was and invited us to come along while he made the transaction to withdraw US$150,000 for his down payment. The teller, with no questions asked, counted out the money and it was then placed in a small, sandwich sized brown paper bag.

“Afterwards, we all walked through town, paper bag in hand, and went to get an ice cream. It felt great to be in a place where you were not automatically under suspicion of money laundering or other criminal acts for withdrawing a large amount without a mountain of questions as to when, how, and where your money was obtained.

“I am originally from Baltimore (I think that’s your hometown, too?), so the idea of walking the streets with a brown paper bag stuffed with money to get an ice cream is something I never could imagine ever doing.

“This is just another example to show that exploring other areas and living outside the box can bring you not only new adventures but freedoms that you haven’t experienced in a very long time.”

–Toni D., Canada

Continue reading: Paying Bribes In Foreign Countries

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