Being contemplated in a consortium is the great goal of all consortium members. And if the purpose of the letter of credit is to purchase a property, the anxiety becomes even more extraordinary. Do you even dream of getting rid of the rent? So, the sooner contemplation occurs, the better. After being contemplated, however, the practical process of using the letter of credit begins. But have you still not thought about this step?
If contemplation were to happen today, would I not know where to begin? If you have any doubts about this phase of the process, it is worth checking the step-by-step of this post to understand how to acquire your home sweet home! Come on?
Define Your Needs
Once contemplated in the consortium, either by lottery or by having bidden the highest bid at a house meeting, you should start thinking about your needs concerning the property. And at that moment comes one of the significant advantages of the consortium: you can choose what is most convenient.
This means you can buy either an apartment on the floor or a new property, as well as a house. You may even choose to purchase land to build. Just define what makes the most sense for your reality and your needs to find the property with the appropriate characteristics. But still, check with the administrator if there is any impediment to purchasing the type.
Search Very Well
Relying on what you can buy with the letter of credit and what you need in a property, it is time to start looking. In general, it is recommended that you find a property that truly meets your needs calmly. Do surveys, compare prices, talk to homeowners, and consider whether the property is within your expectations. Avoid buying the first option you find ahead, which seems cheap, as this can jeopardize your investment and your satisfaction!
Rate the Price
The value must be observed when speaking of cheap or expensive real estate. Fortunately, you do not even have to buy a good that is precisely the price of your letter of credit. If the property is cheaper, the difference can be used to deduct the value of the remaining installments – starting from the last one.
If the remaining amount is lower or you have already paid all the monthly payments, you can use the residual amount to pay expenses arising from the purchase of your property. If the property is more expensive than your letter of credit, you can use your resources to enter the value.
Know the Property
After choosing the property, the most recommended is visiting various times and days to get to know the place. Nothing to rely on, just photos and videos! Make sure you know the location footage accurately, evaluate the frame conditions and finish, and see if everything is under the price charged.
The administrator hires specialized professionals to conduct valuation reports if you are genuinely interested in the property. Thus, you guarantee total security in the acquisition.
Negotiate the Conditions
If everything complies, now is the time to negotiate the conditions of purchase. And because, with the letter of credit, the entire amount is paid entirely to the owner, offering him a lot of liquidity, you can ask for a percentage of discount in exchange, conditions facilitated, or that the payment of bureaucratic expenses happens on behalf of the buyer, for example. However, you must note that you will not pay for the transaction.
The money from the letter of credit does not fall into your account but is held by the administrator responsible for effectively closing the purchase process. Therefore, it is essential to negotiate in advance to achieve the best conditions.
Provide Documentation
After making your ideal choice, you will have a letter of credit with the amount corresponding to the property you intend to buy. However, for this amount to be released, you must provide some documents, such as the updated registration of the property you want to acquire, the IPTU, and an evaluation form – available online in the consortium.
Subsequently, you must also present the proper documentation of the property owner and your identification documents (RG, CPF, and marriage certificate or birth) since only with the administrator’s approval can you complete the process.
Remember the Term
Remember that you can only use the letter of credit until the end of the consortium’s term. So, if you are in a group of 10 years and were contemplated in the second year, you still have eight years to decide where to invest. This decision will depend on your plans and your urgency to acquire a property. Note, however, that the letter of credit is in a fixed-income application, with a suitable monthly income, so you do not lose much purchasing power. Depending on the conditions, it may be advantageous to let a little more yield until the acquisition.
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