There are several doubts. What is the first point that we must understand before financing? First is to know the legal health of the property by asking for a current certificate of the property registration that anyone can request in 5 days. Depending on your state you get paid in hours. São Paulo, for example, requires that the certificate be provided in 2 hours. Some states have real estate electronic centrals where you apply for registration and receive it on your computer wherever you are. -What will you have written on that certificate? The registration is the record that tells the entire history of the property. It will describe the property, the current owner and whether any restrictions are on it. If you have a mortgage, fiduciary alienation, unavailability. There is something called premonitory annotation that many people confuse. This is news on the license plate saying that someone has filed a lawsuit against someone who owns the property and is charging X thousand reais.
This does not count as a burden. If I ask for a property registration they will say that there is no burden because it is an attachment, a mortgage, an action. But if that execution evolves into an attachment or auction you cannot claim of knowledge about … -You can get screwed. Yes. Then look at the premonitory note carefully. It is already an alert for you. – There may be an attachment in the future.
-But this is for real estate already used. This would not be a problem for those who buy new property. Generally, construction companies finance the work with a bank. Then you will have a mortgage or chattel mortgage. It is very difficult for the construction company to pay the entire amount with its own capital. When someone buys the person goes to the bank that financed the work and finances it. Lower the mortgage for that unit and make the purchase and sale. So if you don’t understand, ask someone to guide you on enrollment.
If you are interested in the property the bank will know how to look at the license plate and say whether that asset can be acquired or not. After that if you are going to finance, see what the modality of that contract is. Whether it will be through SFH or SFI, Housing Finance System or Real Estate. How do I know the framing of the property? The Central Bank, depending on the economy, dictates the ceiling of SFH.
Currently it is 1.5 million and the properties that cost up to that price can fit into SFH. Above that only by SFI. It has lower value properties such as Minha Casa Minha Vida, etc. If you are inside SFH when you take the contract to register with the notary if this is your first acquisition at SFH you are entitled to a 50% reduction emoluments at the registry office. This is a right that many do not know. This only applies if this is your first property within SFH. -What are emoluments? – These are notary costs. -What should we pay at the registry office? -There are two acts of registration, the purchase and sale and the guarantee of chattel mortgage. Today there is no more mortgage. Do you pay firm recognition? It is what you pay the most in notary. A bank contract has the power of public deed and those within the SFH they do not need signature recognition. But there are some banks that ask that you recognize firmly. But by law there is no obligation. What do you have to know about value? Because many think it is not corrected.
Do not pay attention only to the interest rate, but also to the indexation. The two best known are SAC and Price. If you prefer a lower benefit than the total contract value you can choose the Price. If you are more concerned with the total value of the contract you will go to the SAC. The Brazilian has a strong characteristic that makes department stores successful. -We make purchases in several installments. -In 12 times. The person needs to buy a refrigerator that costs a thousand reais and can be paid in installments in 24 times of 100 reais. This fits in the pocket and the person buys.
It doesn’t matter if in the end I paid 2,400 in a 1,000 refrigerator. And there are those who can pay a thousand reais and ask for a cash discount. It’s profile. If you are more concerned with the value of the installment, it is an indexation and worry more about the total value you choose the other index. My consortium is adjusted by the IPCA and when inflation rose in 2015 my installment jumped from 1,600 to 1,700 because of the correction. When you sign a contract with a construction company, they are real estate which is when the builder buys the land and builds a building condominium which can be an apartment building or business or condominium of houses. The real estate development aims at the viability of selling future units and the first contract you have is with the construction company. If you are buying property in a real estate development system you must see on the registration if the builder registered the incorporation plan.
If you don’t have it is cold because you may be buying something that will never settle and you will never have the property registration. -I didn’t even look at that. I went in faith and it worked. But I did it first with the construction company and after the property was delivered I bid on the consortium and disposed of the property to the bank. So it was lucky because there is no incorporation registered in the enrollment you run the risk of never being able to regularize the property. -And then they go bankrupt? -The incorporation does not access the registration and the construction cannot be registered and there will be no registration of the units and you cannot legally pass on a deed, give as a guarantee. There is no easier liquidity of the property because you buy ownership because there is no built property. So if you are going to buy and sell with a construction company, check first if the development is regularized and has registered real estate development and if it doesn’t, do not close the deal.
-Where do you see this incorporation? -On the property registration. The law that regulates this is 4,591 of 1964 and deals with real estate development and condominium building. When the builder starts to publicize the development it already has to have incorporated. -You have to have registration. Not only the registration, but having registered the real estate development. If you know construction companies that advertise without having done this process before know that this practice is prohibited by article 32 of that law. -And we don’t know anything. -No one goes to jail for that but it can answer liberal process. -What if the construction company goes bankrupt? There are several cases. Construction may be completed or in progress. In this case it is common for another construction company to take over the project or the purchasers make a commission to finance the rest of the work. -What if none of this happens? – People are at a loss. -Do they put it in court? -Yes and will expect to receive.
If it has already reached that point, this company is in bankruptcy or has gone bankrupt. The problem of having a debt against a company that is bankrupt is that the process takes place in a bankruptcy court and the law determines that the bankruptcy judgment is universal and all processes go there. Including labor, tax, civil. And the law has a payment order. The creditor of this type of debt is there at the end of the line. So the chance of receiving is even less. Then check the legal health of the property and the company is very important. Search Google for lawsuits against her and if they have high values. Research the construction company. Also check if the builder has registered the asset allocation in the registration which is a system that will shield the enterprise. Doing this the builder may have debts and none will reach the property. The patrimony of affectation is so important that when we talk about destratos the builders that do this and do damage with the buyers they can retain up to 50% of the amount already paid by law.
And the builder who has not made any allocation of assets can only retain up to 25%. So whoever is more careful to protect buyers has more rights. Also check the correction index of the construction company. When you are in construction you are paying for material and labor. From the moment the property is delivered you have to pay. If you do not pay it is a debt you owe to the builder. Then he applies the IGPM + 1. What most people don’t realize is that when you sign a purchase and sale contract with a construction company has the expected date for delivery of the work. The builder is up to 180 days late. Unfortunately it still occurs regularly that the construction company exceeds 180 days because it is still building. In the correction logic he must apply INCC because you are still paying for the work, but few people know it and when the expected date arrives they start charging IGPM + 1 as if the property was delivered. This is a practice that is reducing because many construction companies are concerned with causing less damage, but it still occurs in significant numbers.
So while the work is under construction you pay INCC for financing the work. When the work is finished you must pay. If you cannot pay the debt it is with the builder and you can finance directly with the construction company or with a bank where it will be cheaper. I hope Bruno comes back here to teach more. -Certainly. Can call. -To talk about real estate funds. -I have every interest in the world. -He told me things we need to know and that I had no idea. Comment who wants Bruno to come back to talk about FIIs legally.
Thank you, Bruno. His YouTube and Instagram link is in the description. Follow and ask questions. A kiss for each of you. Goodbye. To the next. -Goodbye. A hug. (music) .