The housing market is full of opportunities for those who know how to recognize them, but at the same time there are many pitfalls out there. Those who still do not have enough information can get very confused and end up exchanging feet for hands.
Some construction companies create situations that can cause problems and losses for customers. Often, the consumer is attracted by a low entry price and ends up going into debt later. Based on this, it is important to do efficient research, use consultancy and have the support of trusted companies.
Know now the 5 biggest pitfalls of the real estate market and learn how to protect yourself from them. Stay tuned!
The biggest pitfalls of the real estate market
Through the Sati fee (Real Estate Technical Advisory Service), many real estate companies oblige the buyer to pay a percentage of 0.88% of the total price of the property. This percentage is generally justified as a cost of legal aid.
However, this charge is contrary to the OAB Code of Ethics and Article 39 of the Consumer Protection Code. If you go through this situation, you can go to court to recover the money – which must be returned in double, with interest and correction.
Correction by INCC
The correction by the INCC (National Index of Civil Construction) is not illegal, as long as it is well explained to the consumer. This readjustment increases the long-term debt, since it is applied to the debit balance.
Instead of the correction, the ideal is that the installment is a little higher (about 1% of the value of the property per month) to pay off the debt more. That way, you don’t have to pay for the adjustment.
There are many cases of people who buy a property in the plant and spend months or even years waiting for it. By law, construction companies can delay the delivery of a work by up to 180 days, as long as they justify the delay.
If the period exceeds this limit, the consumer has the right to be indemnified for moral and material damages. The amount of the indemnity is usually 0.8% (for each month of delay) over the value of the property.
Absence of proof of income
The lack of proof of income when buying apartments on the floor attracts a lot of people, but this can be a big shot in the foot. Many consumers end up being unable to finance the property, precisely because their income was not compatible with the investment. This is a big trap in the real estate market.
It is important to be attentive to corrections throughout the construction period. At the end of the contract, the amount paid for the property may be much higher than what was promised. In addition, proof of income should not be seen as a problem by the customer. On the contrary: it represents extra security for both parties.
Rate of consent or assignment of rights
If you intend to invest in a property in the plant to resell it before it is ready, it is good to pay attention to this trap. In such cases, several construction companies charge a fee (so that you can make the sale) and still require prior authorization. This charge is illegal and violates the Consumer Protection Code, since the construction company does not contribute to the sale that you make yourself.
The purchase of a property is a process that begins with the understanding of your needs, going through research and information until the evaluation of the opportunities themselves. In other words, it is a totally planned decision to make your dream come true. At these times, having the knowledge of those who understand the subject makes all the difference.
So, are you ready to evaluate the real estate market and make your investment? Comment below what are the difficulties you are having!