Argentina is a joke country, though not quite as hilarious as Venezuela. Brazil is better, but still risky. You buy property in any of those places at your peril.
Chile, on the other hand, is better run and less corrupt than several European countries I can think of.
I know someone who had a large hunting estate in Argentina stolen from him. Ownership (in the deeds) was transferred to a local big-cheese without his knowledge. Brazen beyond belief.