A friend of mine is looking at purchasing some property in Brazil.

He is interested in the Colina Do Cedro development. It is been marketed by ready 2 invest (R2I) whom he is dealing with.

I have had no dealings with R2I before nor any dealings in the Brazilian property market.

Has anyone had dealings with R2I? or can anyone offer any general tips about buying property in Brazil?

The Colina Do Cedro development certainly looks cheap but is it a good deal?

He has NOT parted with any money yet.

Any help/advise would be appreciated.

There are numerous tips on buying in Brazil in the two threads dedicated to that subject. If you have the time, the patience and the stamina to read through it you'll probably have a very good idea of what is the reality on the ground. Or you may come away feeling even more confused as opinions are quite varied on the right course to take.

The two threads are:
http://www.totallyproperty.com/brazi...ps-brazil.html
http://www.totallyproperty.com/brazi...ng-brazil.html

General consensus that everyone agrees on (i think):

Never pay money to anyone except your own lawyers or unless you have undeniable proof that the money is being sent to Brazil in your name and registered with the central bank of Brasil as coming from you.

Ideally you want to send a small reservation fee to your lawyers in Europe who will hold that money in escrow and check the legalities of the project. Once they are satisfied, you should have the payments sent to Brasil in your name (or just send them yourself) so that you can later apply for an investors visa and so that you can repatriate the funds at a later date.

The reason I say use a lawyer in your own country (or in Europe if you are European) is because if you send money to Brasil (even only 3000 €) then change your mind, it is a nightmare getting the money out of Brasil again. So before you send any money to Brasil, check the legalities. Then have all money sent in your name.

Use a lawyer who knows Brazilian law and who knows property law.

__________________
Yes, I work for a Real Estate company doing market research and analysis but I'm not involved in sales.

Have a nice day

With regards to the development itself, I can't say - not been down to Santa Catarina myself yet, and having planned my next trip already I won't be seeing it this time either as I'm visiting areas around Fortaleza, Salvador and Natal.

__________________
Yes, I work for a Real Estate company doing market research and analysis but I'm not involved in sales.

Have a nice day