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Check out what factors can increase the cost of buying a property


There are several factors that raise, far beyond the measure, real estate prices in large urban centers. Among them are the scarcity of viable land for the implementation of real estate projects and the constant increase in demand. When intending to acquire a property, the “applicant to purchase” must pay attention to several other expenses directly related to this purchase, so that they can afford them all without unpleasant surprises. Let's comment on some of them.
Advice from a lawyer

Buying a property is a very special moment in everyone's life. It means an important achievement, as it guarantees the home of its owner and a relevant heritage reserve.
We must pay special attention to this moment and be aware of all obligations arising from the signing of a property purchase agreement – as well as the rights arising therefrom.
In order for everything to proceed within the greatest possible degree of legal certainty, it is essential that the buyer be advised by a lawyer he trusts. In addition to clarifying each of the conditions set out in the contract, the professional will know how to discuss the document's clauses with the seller.
As a service provider, he will be responsible for receiving the respective fees. So, if you want to buy a property, don't make the mistake of asking a friend or relative who is a lawyer to “take a look” at the contract. Be professional, pay for the consultation and have a formal opinion about the acquisition and any clarifications that may be necessary.

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Documents

If the acquisition is made with payment in installments, it will certainly be required to present documents that portray the financial integrity of the buyer.
This documentation will be even more complex if the purchase is financed by a financial institution: in addition to certificates and certified copies of personal documents, it is likely that the buyer will have to hire a service provider to work with the financial agent in completing the approval process for credit.
Thus, it will be necessary to prepare to bear the expenses of:
a) certified copies of personal documents (RG, CPF, marriage certificate);
b) negative certificate of distribution of state facts (including tax executives);
c) negative certificate of distribution of federal civil facts;
d) negative certificate of distribution of labor facts;
e) negative certificate of distribution of protests;
f) negative certificate of INSS and federal revenue;
g) fees for the professional who will present the documents to the financial agent (financial credit).
As the case may be, other documents may be required, increasing the costs of this step.
Notary fees
Usually, the property purchase and sale relationship is born with the signature of a “private purchase and sale commitment”.
Subsequently, either by the settlement of the price, or by the delivery of the definitive deed of the property together with a debt acknowledgment instrument (that is, a document in which the buyer acknowledges the existence of the debit balance), the final deed of sale is drawn up and purchase of the property.
In this situation, the buyer must pay the notary fees, the amount of which varies according to the table in force in each of the States of the Federation.
Not only the fees with the deed must be paid, but also those related to the registration of the deed with the Real Estate Registry Office.
Therefore, at that time, the buyer will have the following expenses:
(a) emoluments related to the drawing up of the public deed of purchase and sale Notary of Notes;
(b) fees with the registration of the public deed of purchase and sale at the Real Estate Registry Office;
(c) emoluments related to copies of the deed and the registration certificate with the registration of the deed.
Two important issues must be highlighted:
1) In the case of a deed with mortgage or fiduciary sale, the buyer will be responsible for paying for both acts (ie, the sale and purchase and the institution of the real guarantee) and, also, the costs with the respective registrations.
2) In the case of an instrument of sale and purchase with institution of fiduciary sale of the real estate in guarantee of the outstanding balance, article 38 of Law 9,514/97, with the wording given by Law 10931/04, authorizes the instruments to be private .
Thus, the buyer does not need to pay the fees for the respective deeds.
Real Estate Transfer Tax
There is also, at the time of signing the instrument of transfer of ownership of the property, the obligation to pay the municipality the so-called Real Estate Transfer Tax (ITBI).
In São Paulo, it is 2% of the sale value or, if this value is lower than the base value set by the municipality, the highest among them will prevail as the calculation base.
insurance payment
In acquisitions made through financial institutions, the value of the installments is composed of the following elements: value to amortize the financing debt; value of remuneratory interest and, finally, the value of insurance charges. This insurance is intended to settle the debit balance of the financed amount, in the event of the borrower-debtor's death.
It is worth remembering: there have been, recently, changes in relation to the contracting of this insurance and, today, the financial institution is required to present at least two insurance companies, and the buyer is still authorized to hire a third insurance company, if it suits them best.
Expenses with condominium apportionment, property tax and maintenance
Finally, the buyer must also seek information about the cost that he will have to bear with the apportionment of condominium expenses (if the property is part of a condominium), with the IPTU and also with the routine maintenance of his property.
This last point, often overlooked by the property owner, ends up causing quite costly surprises. Remember: constant revision and cleaning of the water tank; review of electrical and hydraulic networks; replacement of broken tiles; painting maintenance (including its frames) among other items.
(The information provided here is not intended to respond to specific legal inquiries which, in turn, must be answered by a professional trusted by the interested party.)

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