Anticretico?

by Francois
(Ca. USA)

I have read the article on anticretico...but would like more realistic experiences. On average....is this merely a gimmick? Do most owners fail to refund the principle? To turn over 40k or the like, for a temporary residence, seems very risky in an undeveloped country. Seems like it could become a nightmare. Any and all input would be appreciated.

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Mar 04, 2011
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starstarstarstarstar 		anticretico
by: Anonymous

i will make this very simple for that kind of money you will get a house and the contract that you make with the owner it is notarized for 1 year and if you like to extend another year it will be by a mutual agreement but after that you will let the owner know 3 months in advance that you will be leaving and yes if they don't have the money then they will find somebody else it is not a gimmick i guess you don't make any money on your investment but you don't pay rent only your hydro and water are your expenses
Dec 11, 2010
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starstarstarstarstar 		a suggestion
by: bocagrande

anticretico can be made much safer buy acquiring the services of a lawyer to ensure all the bases are covered in the contract. It'll cost a few hundred bucks but think of it as insurance and sleep well at night knowing you're gonna get your dough back.
Aug 22, 2010
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starstarstarstarstar 		anticrético
by: Anonymous

"To turn over 40k or the like, for a temporary residence, seems very risky in an undeveloped country". To start with, if this is the view you hold on the country, everything you'll do will seem risky and I'd suggest not bothering going there in the first place.

Anticrético is a legally binding contract in Bolivia, and the laws that regulate it are rather strict and easily enforced since there's an asset in the middle, no one's going to run away with your money.

The whole point for landlords is that they can invest your money and have better returns than the rent they'd get from their house or flat. This of course also means that sometimes they may have invested your badly and seen no returns on it!, how can you cover yourself?, give the landlord as much notice as you can so he can put the money together, just as it's perhaps not easy for you to get 40k together, it won't be for him/her as that money will be invested somewhere. The typical figure when a landlord cannot repay you immediately is that they wait until they get the next anticrético from the new tenants, which they'll use to repay you, hence the importance of giving plenty of notice, the more in advance they know, the sooner they'll find a new tenant, the less problematic it'll be for you to get your money back. In general , problems hardly arise as landlords go from anticrético to anticrético (often with an increase too) so in the worst case scenario you'll find yourself having to wait for a couple of weeks to get your money back, but if you negotiate it well you should get interest paid on these two weeks. In the event the landlord fails to pay your money back, the legal figure contemplates a series of penalties and even repossession of the asset by you. Antcrético is by far the best way to rent if you have a sum of money you don't need to have access to, some Bolivians see anticrético as a savings account, counting the interest they would get from a bank against the rent they'd have to pay.

But then again, if handing over 40k to an undeveloped countryman scares you, just rent or go elsewhere.
May 31, 2010
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starstarstarstarstar 		Anticretico is risky
by: Anonymous

Anticretico is risky, but a common practice. Sufficiently worthwhile to make it worth the risk to some. Bolivians in general abhor the idea of renting. They either buy or do anticrético. Rent is money down the toilet in their view.

Most anticretico contracts apparently seem to go well. However, there are cases where the owner is not able to gather the money on time. After a certain period of time (several months waiting period as evidence the owner is definitely not going to pay up), if the renters have not been paid they can choose to take possession of the home or property.

That's the difference for a foreigner and why anticretico probably is NOT a good idea for a foreigner unless you plan to live here for a good length of time and plan to eventually purchase a home of your own here in Bolivia. If you're a short-termer who could be transferred elsewhere at a moment's notice, you would neither recover your money nor be around to take possession of the home (and if you're leaving the country you wouldn't want the home anyway).

On the flip side, if you plan to live here for a long time, you could afford to wait in such a case. And once the home is yours, if you don't want it, you would be around to sell it and invest in something you do want. So it rather depends on your plans and objectives.

My understanding, from talking to other people who have anticrético contracts, is that most haven't had a problem, but some have experienced delays in repayment that have obligated them to put their own plans for the money on hold.

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