Svoboda fired a bogey-free 6-under 65 and stands at 19-under 194 after 54 holes at the par-71 Sao Paulo Golf Club, while Patel (66) was 18-under 195.
Patel is going for his first win on Tour in his 36th start. Patel is playing out of the Major Medical category this season. The winner will take USD 126,000 of this week's purse of USD 700,000.
Martin Flores (64) is three back at 16 under. Gridlocked at 15 under are Adam Schenk (62), Benjamin Alvarado (64), Anders Albertson (66), Adam Long (67) and Sebastian Cappelen (68).
Coming to the 18th and final hole for the day, Svoboda and Patel were tied at 18 under. Svoboda's 8-iron from 170 yards from the center of the fairway came to rest 10 feet right of the hole and he duly putted for birdie.
Also Read
Patel started the day with four straight birdies and was in position to lap the field until his tee shots started to miss the short grass. The 25-year-old from Bakersfield, California carded four bogeys in nine holes and found himself three back of Svoboda at one point during the round.
Patel used his length to his advantage on the next hole hitting a drive of over 300 yards to set up a short-iron approach on the par 5. The long-hitting former California State Amateur champion smashed an 8-iron from 195 yards to 7 feet below the hole.