Clipping of news on Brazilian Culture, Law and Citizenship
01.02.2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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41% of sales were cancellations in the first 9 months of 2015, says Fitch.
Falling property prices and economic situation increased requests.
The social worker José Paulo Lima bought a property in the plant for R$ 220,000 in Itaquera, in the east of São Paulo. After the apartment was finished he saw an ad in the construction site offering identical units in the same building for R$ 180,000. He decided to return.
Black River now has 2,100 real estate waiting for a buyer (Photo: Playback / TEM TV)
When he bought the apartment in 2012, property prices in Brazil were high. That year, the value per square meter had risen 13.7% in 12 months, according to FipeZap index. But the scenario has changed since then. In 2015, real estate prices fell 8.48%, after inflation of the period.
This devaluation, coupled with higher interest rates to finance a home, complicated the life of Joseph Paul. On return of keys - when you need to make a mortgage - the bank made it difficult to release credit. "Unfortunately, my income capacity does not pay this apartment, so I want to return to the construction," he explains.
This return request, known as dissolution, is the right of those who bought the property in the plant and has not yet made a loan with the bank upon delivery of the keys. By breaking the contract with the construction company, the buyer, even in default, you get back part of what paid and returns the property to be resold to the market.
41% of sales were dissolutions
In the first nine months of 2015, construction got back 41% of the units sold at launch, a total of R $ 4.9 billion, showed a report released this month by Fitch. In 2014, this percentage was 29% and in 2013 24%.
The study covers new developers evaluated by the agency. "In a scenario where 35% of sold units scheduled to be delivered are canceled, the cancellations could total R $ 6 billion in 2016," the report predicts.
In the São Paulo office Tapai Lawyers specializing in real estate, 73% of the shares in justice in 2015 corresponded to requests for dissolution. By 2014, this proportion was 43% and in 2013 only 16%.
Before entering the justice, the first step for those who want to return is to communicate the intention to the construction company and try to negotiate an alternative, guides the Association of São Paulo and adjacencies Borrowers (AMSPA). José Paulo, for example, paid almost R $ 50,000 to the construction to completion and another R $ 8000 brokerage fee and will talk to the builder.
According to the lawyer Marcelo Tapai, construction companies have offered "small change" for what has been paid, between 40% and 70%. "They are adamant to return values greater than or offer discounts for not 'open precedent' for other cases," he believes.
Builders defend themselves saying they need to cover the cost of brokerage and advertising during launch and discount these values cancellations.
"It's a big problem the termination. In addition to the fees and costs, the company will have a seat unit and will have to resell discounted in the market, "says real estate consultant and advisor in construction linked to Tecnisa, Luiz Antonio France.
Most of the properties sold with discounts in recent years came from returned units, according to France. "In rising prices, the construction company sold real estate rescinded a profit and had no problems. Now she sells at a loss, "he says.
According to AMSPA, the São Paulo Justice has held that the construction should add everything that has been paid until the date of notification and return 90% of this amount at once, "remembering that each case is different," the office of the judge, says the association.
Most expensive property in the plant
After the lower financial standing by job loss and the refusal of banks to give credit, the main reason which entails requests for dissolution were the discounts offered in units that were bought by higher values in the plant.
For France, it makes no sense to argue that the property is cheaper to ask for the return. "Who buys and sells is subject to market risks. The construction company also loses when selling the plant and the prices go up later. You can not play play 'Real Estate Market' ", defends the consultant.
Tapai agree not possible question the discounts that the building companies are offering the ready-made units, but defends the right to request the return of property or a proportional discount to what is being offered to negotiate the termination.
Source: G1
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This article was translated by an automatic translation system, and was therefore not reviewed by people.