Registering Property and getting Credit
| DB 2011 Rank | 114 | DB 2010 Rank | 113 | Change in Rank |  -1 |
|---|
| No. | Procedure | Time to Complete | Associated Costs |
|---|---|---|---|
| * 1 | Obtain a non-encumbrance certificate from the Registry | 15 – 20 days (simultaneous with procedure 2) | ROD 300 |
| * 2 | Site inspection to establish the exact location of the property | 2 days (simultaneous with procedure 1) | ROD 5,000 – 12,000 |
| 3 | Notarization of the sale purchase agreement | 1 day | 0.25 – 1% of the property price |
| 4 | Request the valuation of the property at the Dirección General de Impuestos (Tax Authority) | 1 day | no cost |
| 5 | An inspector of the Tax Authority verifies the value of the property | 14 days | no cost |
| 6 | Payment of taxes at the Dirección General de Impuestos (Tax Authority) | 1 day | 3% of property value (transfer tax) |
| 7 | Payment of taxes at the Dirección General de Impuestos (Tax Authority) | 20 – 30 days | ROD 50 (Stamp duty) |
