Clipping of news on Brazilian Culture, Law and Citizenship
08/05/2012
This article was translated by an automatic translation system, and was therefore not reviewed by people.
SAO PAULO - Realising the dream of home ownership usually involves long-term debt and therefore we must caution before visiting a salvage yard properties such as the CEF, which began last Friday in some cities of the country
Before buying, it is important to research the market value in the region for the same characteristics of the property you have in mind. This helps to set the maximum amount you are willing to pay for the property.
Another tip is to research interest rates. In the CEF, you should examine rates of other institutions that also finance real estate and compare. It is also important to know that the interest rate varies according to income, property value and loan amount.
More tips
Research and make simulations on all banks to find the best rates and stay tuned to the TEC (Total Cost Effective) to see everything that is involved in financing, including all administrative fees and charges levied by banks. Not always the lowest interest rate is the best deal.
Stay tuned to occupied buildings, as you may have trouble getting the eviction. Importantly, the court eviction process is lengthy and involves court costs and attorneys' fees, if you need to sue.
It is also essential to visit the property offered as to whether the current occupant intends to deliver the good amicably, if the property is in good condition, besides knowing the neighborhood.
The entity also conselha the buyer see the Court as to whether there is any lawsuit challenging the borrower's previous debt with the Bank.
You must keep all the ads and to record the offer to purchase all that was promised by sellers during the negotiation, including delivery dates, interest rates, footage of the property and costs.
Family budget
According to the Protest, even though interest rates are falling, consumers should not take a hasty decision to avoid commitments that are outside the realm of the family budget.
It is advisable that all debts combined with the purchase of property does not exceed 30% of the family budget. "Try not to commit more than 15% of income with the first installment of funding," advises the entity.
With respect to the property, it is important that the purchase is within the current needs and that the entry is as large as possible so that funding has the shortest time - always in the ability to pay.
If the interest rate is 10% per year, ten years of funding will be paid the equivalent of the property purchased. In 30 years will be paid 4.5 times the value of the property, for example.
Source: MSN News
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This article was translated by an automatic translation system, and was therefore not reviewed by people.