Completion Time Frame: 9-21 days (simultaneous with procedures 2 and 3)
Completion Costs: About 1 % of transaction value
Points to Note:
A lawyer is contracted to conduct due diligence of the property’s legal history, for not less than 10 years. The lawyer will also obtain the documents described in procedures 2-3 from the Property Registry and the Treasury, as well as undertake the registration formalities.
Lawyer fees for the study of the titles, drafting of the contract and completing all the formalities involved in the registration procedure range between 1 and 2.5% of the transaction value. While it is not legally required to employ a lawyer for the study and the registration, it is common practice.

Step 2: Request copies of property titles for the past 10 years and the ‘Certificado de Vigencia’ and encumbrance certificate from Registry

Completion Time Frame: 7 days (simultaneous with procedures 1 and 3)
Completion Costs: Included in procedure 5
Points to Note:
The copies of the property titles, the ‘Certificado de Vigencia’ and the Encumbrance certificate (‘Certificado de Hipotecas y Gravámenes y de Interdicciones y Prohibiciones de Enajenar’) can all be requested at the same time.
Both documents are usually requested by the lawyer responsible for the diligence of the property.
The copies of the property titles are obtained in about 2 days while the certificates in 7 days

Step 3: Obtain evidence of complete payment of land tax from Treasury (Servicios de Tesorerías)

Completion Time Frame: 1-2 days (simultaneous with procedures 1 and 2)
Completion Costs: Included in procedure 5
Points to Note:
The Internal Revenue Service Certificate (Form 2890 from the Servicio de Impuestos Internos-SII) can be requested online at www.sii.cl. The notary fills and signs it, along with the buyer. Once the transfer has been recorded, the Registrar also signs with the file number and the date of recording. Then, the Registrar sends the form to SII.

Step 4: Execution and signing of the public deed

Completion Time Frame: 2 days
Completion Costs: CLP 30,000 (copies and other expenses at the Notary’s office) + 0.1% of property price with a maximum charge of CLP 128,000 (Notary’s fees)
Points to Note:
Upon completion of the due diligence, the transfer public deed is executed and signed before a Notary Public, by both parties. The purchaser and the notary also sign the Internal Revenue Service Certificate (Form 2890 from the Servicio de Impuestos Internos-SII) stating the property being transferred, its price and the form of payment.
The SII is responsible for the fiscal cadastre.
In the case of companies being involved, legalized copies of the powers of attorney are required.

Step 5: Registration of the public deed at the Real Estate Office

Completion Time Frame: 7-15 days
Completion Costs: CLP 13,500 (copies and certificates) + 0.2% of the property value (Stamp duty)
Points to Note:
In the case of properties located in the cities of Santiago, Valparaíso and Viña del Mar the value is 0.2% of the property value. For other cities the value is 0.3%, with a maximum charge of approx, CLP 260,000.
The Registry checks the payment of all taxes related to the property.
The Registry provides the information of the transaction and the value of the property and taxes to the SII within the first ten days of the following month. The time limit for the registry’s decision is 2 days, and there is a 2-month period for the parties to amend any mistake.
Note: The registration time refers to the Registry in Santiago. Outside of Santiago, the time would be longer (up to 3 weeks).
The documentation shall include:
Form 2890 stating the property being transferred, its price and the form of payment.

Step 6: Obtain a Property Certificate and a Mortgages and Ownership Limitations Certificate

Completion Time Frame: 2-3 days
Completion Costs: CLP 6,600 for each certificate (2)
Points to Note:
Once the registration has been completed, it is recommended to obtain from the Conservador de Bienes Raíces de Santiago (the Real Estate Office) 1) a copy of the Property Certificate stating the new ownership, 2) Mortgages and Ownership Limitations Certificate, stating the new ownership is clean. While this procedure is not legally required, it ensures that all the information is correct.
There is no need for title insurance in Chile since the Registrar and the Notaries must personally answer for their mistakes on their functions. They hire responsible insurance for these cases.
Outside of Santiago, it may take up to 2 weeks to obtain the title and certificates.