In Brazil, 8% of 70 % of homes are financed , and although this number may not seem impressive, it has a great influence on the growth of the real estate market. The sector needs investment and a large part of this comes from the provision of real estate credit .
Furthermore, it is necessary to understand how these usa email leads can influence productivity and boost real estate construction . Also, paying attention to the process can reduce the risk of default , increased costs and provide facilities for those financed to transfer their properties and debts.
Before defining this knowledge, it is necessary to understand the specificities that encompass real estate credits. Therefore, in this article, I will explain the transfer of real estate financing , its characteristics and mainly its functionality.
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Summary
What is a real estate financing transfer?
The real estate transfer operation
When can a real estate transfer be made?
What are the steps involved in real estate transfer?
Are financing transfers advantageous?
What to do before finalizing the real estate transfer?
Bonus: Tips on transferring financing
Evaluate the interested parties
Combine the sale
Property transfer expenses
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Real estate financing transfer: image of a table seen from above with some papers, a calculator, a notebook and the hands of two people on top of a piece of paper.
What is a real estate financing transfer?
Property financing in Brazil can last up to 30 years. However, what happens if the beneficiary decides to put the property up for sale before paying it off?
The person responsible can pay off the debt before making the property available in the sales sector. However, as it usually requires very high amounts, those financed end up opting to sell it , even if the debt is in the process of being paid .
Therefore, it will only be possible to finalize the sale of the property through the transfer of real estate financing . This means that the current owner will transfer it to the buyer interested in assuming the remainder of this real estate financing .
It works like a resale , since the owner will stipulate a payment , generally based on the amounts paid off on the financing, after receiving it and with the approval of the responsible financial institution , it will no longer be charged for paying off the loan .
I will detail the financing transfer process below.
The real estate transfer operation
Since the financing transfer establishes a contractual transfer of regular payments, it cannot be done only with the interested parties in the purchase and sale process . This interaction and the transaction need to be evaluated and approved by the institution that holds the property documentation and receives the financing installments .
Therefore, it is necessary to establish a refinancing contract for the next installments and it must contain a duly reported clause that authorizes the transfer. Since it requires proof of payments, credit approval and various types of documentation , this process is not simply finalized.
Before making the sale available through real estate transfer , it is necessary to:
Check the existence of the possibility in the financing contract
Agree with the potential new holder of the financing on the payment method given the balance already paid off
Perform a credit analysis
Wait for approval from the responsible financial institution upon presentation of the documents
Prepare a contract containing payment certificates, the percentage of fees and taxes attributed to the property.
It is important to emphasize that this transfer process is linked to the financing institution , as the property legally belongs to it until the financing is duly paid off .