Find out more about how real estate consortium works!-Financing Home

The real estate market in Brazil has changed a lot in recent years. After a great appreciation, it seems that the sector has found a reasonable level to operate and interest in houses and apartments remains high.

However, prices may be too high for some. Even though they dreaming of owning a property, many people can not raise enough to acquire it. So there are interesting options and one of them is the consortium! Want to ask your questions about and find out how the real estate consortium works? So be sure to check out today’s post:

How does a real estate consortium work?

How does a real estate consortium work?

The real estate consortium is consolidating an excellent alternative for those who want to plan the purchase of a property, both new and used. It works more or less like a normal consortium: a group of people eats together to buy a product and each pays monthly installments to an administrator. The difference here is that the product is a property!

When the parcels reach the stipulated amount, the participant is drawn and contemplated and can buy the house. As they last for several years, it is a great alternative for those who are not in a hurry.

How to get into a real estate consortium?

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The first step to joining a real estate consortium is to look for an administrator. It is this company that will be responsible for gathering the pool of people who wish to buy the property and, after reaching the minimum number of participants, the consortium will effectively begin.

All participants in the group will contribute to the formation of savings through the payment of monthly installments and all participants will compete on equal terms with the raffles. Consortium members may also bid with their own funds or the so-called built-in bid, which is to use up to 25% of the credit amount to advance contemplation and have the letter of credit released.

Do the parcels of the real estate consortium have interest?

Do the parcels of the real estate consortium have interest?

One of the great advantages of a real estate consortium is that its installments, unlike bank financing, have no interest. It is necessary to remember that you must pay to the administrator, so the values ​​can be readjusted once a year. This is also due to other factors, such as the change in prices of building materials, for example. However, it is still a very attractive option compared to those that exist in the market.

What happens when someone is contemplated?

When a participant is contemplated, he / she receives a letter of credit. It can be used in the purchase of any type of property, new or used, or even for retirement or construction on the property of the raffled anywhere in Brazil. Participants are also allowed to use the credit to make full settlement of a loan on behalf of the consortium.

Is the real estate consortium safe?

You need to research before entering a real estate consortium. It is worth remembering that the administrators need to be authorized by the Central Bank, which is the body responsible for regulating the sector. To invest your capital without fear, remember that only corporations with this authorization can run the consortium groups, so well informed before participating.

 

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