There are specific details for success in this form of financing.
Financing the purchase of a used property is more complicated than a new or used property in this article because it is prepared for this challenge.
And the difficulty of this happens many times for one of the simplest reasons, the owner wants the payment on sight and on the day of the deed. Despite receiving the same amount from the bank and many times even with more guarantees.
If the owner chooses or accepts that his property can be acquired through a real estate financing, this will be more demanding in relation, for example, to the documentation of the property.
And it is at this time that most of the problems occur and that the liberation of the financing is not viable, such as mortgages, divorcees, the absence of definitive deeds and even the nonpayment of taxes, prevent this property from being able to finance it.
Understand, the bank is the one that pays the largest part of the account, granting the financing to the buyer, being this way, all the documentation of the property needs to be perfect because the guarantee of the financial agent is the well alienated (property).
Another detail is that when it comes to financing a used property, the difference is the relationship between the value of the entry and the balance due or to be financed. The reason for this is to eliminate the possibility of financing a used property 100%.
Even though it is normal practice to finance 100%. There are important values, such as taxes, imposts and others that need to be paid, being this way, you are prepared to pay less than 20% of the value of the property and more than the taxes.
The good news is that the possibility of using your FGTS will help!
But be careful, because there is a unanimity among specialists in relation to the use of this, is that the value is used preferably to reduce or amortize the balance due from the financing.
Last but not least, there is the appraisal value of the bank, for the property that you want to finance, although the owner defines a price (Sell) for the property, who will effectively evaluate this is the financial agent, and many times the values are not beaten, that is, for how much the bank appraised, what the owner wants, and what you can pay!
There are other important issues that involve the financing of used properties, such as those related to their documentation and mainly to income verification, but on this aspect, there is no better way to evaluate them than you do. And to test the real possibility of obtaining real estate financing, it is necessary to simulate the main banks.
So for more offers that have the best and classified properties on the internet, and you want to finance the purchase of a used property, certify that you have at least 3 aspects mentioned in this article and that you do not depend exactly on them:
Does the owner want to pay on demand or does he want to finance his property?
Is the documentation of the Imóvel completely updated and free of charge?
Was the appraisal of the property good, the price of the property was market?