Being contemplated in a consortium is the big goal of all consortium members, right? And if the purpose of the letter of credit is to buy a property, the anxiety becomes even greater. Do you even dream of getting rid of the rent? So the sooner contemplation occurs, the better. Once contemplated, however, the effective process of using the letter of credit begins. But you haven’t even thought about this step yet? If contemplation happened today, would you not even know where to begin? Because if you have many questions about this phase of the process, it is worth checking now the step by step of this post to understand how to make the purchase of your home sweet home! Come on?
Define your needs
Once contemplated in the consortium, either by lot or by bidding the most in a house session, you should start thinking about your needs regarding the property. And at that moment comes one of the great advantages of the consortium: you can choose the one that is most convenient. This means that you can buy both an apartment on the floor or a new property, as well as a house, for example. You can even choose to buy land to build. Just define what makes the most sense for your reality and your needs so as to find the property with the right features. But still worth checking with the administrator if there is any impediment to make a purchase of the type, ok?
Search very well
Based on what you can buy with the letter of credit and what you need on a property, it’s time to start looking. In general, it is recommended that you take the time to calmly find a property that really meets your needs. Do research, compare prices, talk to homeowners and think if the property really is what you expect. Avoid buying the first option that you find ahead and that seems cheap, as it may compromise your investment and your satisfaction!
Rate the price
Speaking of cheap or expensive property, the value should certainly be noted. And fortunately, you don’t even have to buy a good one that is exactly the price of your letter of credit. If the property is cheaper, the difference can be used to pay off the value of the remaining installments – starting regressively from the last one. If the remaining amount is lower or if you have already paid all the monthly installments, the residual amount can be used to pay for expenses remaining from the purchase of your property. If your property is more expensive than your letter of credit, you can use your own resources to find out the value. In the case of residential real estate, for example, it is possible to use FGTS money, provided that it obeys certain rules by Cashier.
Know the property
After choosing the property, the most recommended is that you make some visits, at different times and days, to really know the place. No relying just on photos and videos! Try to get a good look at the location’s footage, evaluate the structure conditions and finish and see if everything is in accordance with the price charged. If you are truly interested in the property, the manager hires specialized professionals to perform appraisal reports, thus ensuring total security in the acquisition.
Negotiate the conditions
If everything is in line, now is the time to negotiate the terms of purchase. And because with the letter of credit, the entire amount is paid in full to the owner, offering him a lot of liquidity, you can ask for a percentage discount, easy terms or bureaucratic expenses to be paid by the buyer, for example. example. It is important to note, however, that it will not be you who will pay the transaction. The money from the letter of credit does not fall into your account, but is held by the administrator, who is responsible for effectively closing the purchase process. Therefore, it is important to negotiate beforehand to achieve the best conditions.
Once you have made your ideal choice, you will have the letter of credit available for the property you wish to purchase. But for the release of this value to occur you need to provide some documents such as: the updated registration of the property you want to purchase, the property tax also has an appraisal form – which Rodteam is available online in the area of the Consortium. Subsequently, you must also present the proper documentation of the property owner and also their identification documents (ID, CPF and Marriage or Birth Certificate), since only after the administrator’s approval can the process be completed.
Remember the deadline
Remember that the letter of credit can only be used until the end of the consortium. So if you are in a 10-year group and were awarded the second year, you still have 8 years to decide where to invest. This decision will depend on your plans and your urgency to purchase a property. Note, however, that the letter of credit is in a fixed income application with an adequate monthly income so that you do not lose much purchasing power. Depending on the conditions, it may be advantageous to let it yield a little more until you acquire it.
Pay till the end
If you have been awarded before repaying all your installments, you will need to continue paying the consortium until the end of the established period. This step after using the letter of credit is crucial, because without this payment you can have the asset taken as collateral. So, if you have been contemplated and there are still monthly fees remaining, continue to pay normally, on time, to avoid problems with the administrator.
Buying a property using the letter of credit is a very simple process that happens mainly through the administrator itself. By following all these steps, not only does the process become less bureaucratic and faster, it also ensures that you have the perfect property for your needs!
Now leave your comment here telling us if you still have any questions about this process! Join and enrich our post!