By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Last year through November, around 40,900 sales contracts were canceled in Brazil by defaulting, equivalent to 43.4 percent of total real estate sold in the period, according to an exclusive report by local news agency O Globo earlier this week.

That means that for every one hundred real estate contracts, almost 44 of purchasers did not meet the conditions or did not want to take the contracts through completion.

The increase in the rate of defaults was expected due to Subscribe to our Premium Membership Plan. Already Subscribed? Login Here