The purchase of real estate is a very important moment in the life of any person. In addition to the sentimental value of making your own home dream come true, this acquisition involves a large amount of money and, at first, glance, may not seem possible to some. However, with the increase in the supply of credit and the incentives promoted, it became easier to buy a home.

To ensure a good deal and not take risks, you need a lot of attention and patience when looking for the dream property. There are several ways to negotiate the purchase and a point that is very much sought after today is the use of the Severance Pay Fund (FGTS) to pay down the debt.

Conditions for using FGTS

FGTS is the right of every worker with a formal contract. To pay for your own home, there are some conditions necessary to use that money. Are they:

  • Have worked with a portfolio record for at least three years – in a row or not. That is, there may be a change of job in this period.
  • The desired property must be located in the city where the FGTS owner has worked or lived for more than a year. In addition, it cannot cost more than R $ 950 thousand, in the case of the states SP, MG, RJ and DF. For the other federative units, the maximum amount should be R $ 800 thousand.
  • It is not allowed to use FGTS if the person already has active financing in the SFH (Financial Housing System) anywhere in the country.
  • The person cannot be owner, promising buyer or usufructuary, be it a residential property or still under construction.

FGTS for two

It is possible to use the FGTS balance of two people to purchase the same property. For this, the two will need to have their names in the deed of the place and follow some additional rules. The exception of the items above exists when the second buyer is the spouse of the first. In this case, only one party needs to live or work in the same city as the desired property. If they are not legally married, the two must follow the criteria above.

Necessary documents for the purchase of a property: 

  • Work Permit.
  • Proof of enrollment in the Individual Taxpayer Registry (CPF).
  • Proof of marital status.
  • Updated statement of linked accounts.
  • Proof of residence or occupation for at least 1 year.
  • Copy of the last income tax return and delivery receipt.

In addition to the buyer’s personal documents, some documents relating to the property to be purchased are necessary to withdraw the FGTS and obtain financing:

  • Real estate registration certificate in full and updated.
  • Notification of the Property and Urban Territorial Tax (IPTU), for the year.
  • Proof of payment of court and laudemium – if applicable;
  • If there is financing for the construction, present a project approved by the City Hall, budgets, physical-financial schedule of the work and registration with CREA of the technician responsible.

How to withdraw FGTS

To obtain the resources available at FGTS, the applicant must be the account holder and request the withdrawal from the financial agent. Those who have debts can still withdraw, unless they have their name registered with credit protection services, such as Serasa and the Central Credit Protection Service (SCPC).

The released balance is automatically deposited in the seller’s account of the property. This means that the buyer does not deal directly with the money when withdrawing the fund to buy a property.