Clipping of news on Brazilian Culture, Law and Citizenship
08.26.2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Man in doubt
Internet user's question: I bought a property in the plant in June last year and I am paying part of the financing installments during construction. Receive the property in November 2017, the construction company proposed a discount if I pay some installments in advance. Worth it?
Marcelo Prata answer *
In the case of real estate purchased on the plant, the outstanding balance is exactly the sales value of the property you are purchasing because you have not paid anything for him, only signed a purchase and sale agreement.
Therefore, the outstanding balance that you must pay to finance the act with the bank will be the property value, minus what you paid during construction, plus the adjustment by the INCC (Cost National Index of Construction), which focuses on the balance due during the work period. The INCC can be billed monthly, every six months, annually, at the end of the work or other format specified in the contract.
Considering the correction by the INCC, it is advantageous to repay the installments now to get the discount?
I made two simulations considering the example of a 300,000 real property bought the plant in June 2014 and scheduled for delivery in November 2017: in the first case you would pay 20% of the property value during construction, or 60,000 reais; in the second case, instead of paying 60 thousand reais by 2017, it anticipates half that amount and pay R$ 30,000 now, leaving another R$ 30,000 to pay by 2017.
To write off part of the installments, paying R$ 30,000 now, your outstanding balance until the property is handed over will be R$ 290,485.81, ie, the correction by the INCC have been approximately R$ 79,057.24 if we consider the actual content by June and an average for the months ahead. Longer if you write off the debt only at the end of the work, for example, your outstanding balance will be approximately R$ 295,915.09, and correction by the INCC will be approximately R$ 84,486.52.
Ie the economy to repay the outstanding balance will now be approximately R$ 5.5 thousand. So it pays to accept the offer of construction and anticipate portions of funding.
* Marcelo Prata is the founder of comparison website mortgages, Canal Credit.
Source: Survey
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This article was translated by an automatic translation system, and was therefore not reviewed by people.