Following this line of thinking, most of us Brazilians plan a lot, in addition to doing a lot of research in search of the opportunity to make our dream come true. If you want to buy your own home, but understand that you don't have enough money to make the payment in cash, there are two options: a consortium or real estate financing.
Even though they are highly sought after, these two options france email database a lot of curiosity regarding their characteristics and benefits. Do you know which one is the most advantageous? It's a very common question, isn't it? But to find out the answer, you need to understand how these two options work in practice.
With that in mind, we created this article to help you find the best option for your budget, as well as highlight the main differences between the options, as well as their pros and cons. You will leave here able to decide the best way to make your dream of owning your own home come true. Are you ready? Let's go!
Consortium: How does it work?
In a simple and straightforward way, a consortium is a credit option in which several people come together and pay monthly installments to a consortium administrator, which is responsible for organizing the group and the resources. Thus, the company is responsible for bringing together individuals who are looking to buy a common asset, considering a specific value range, which could be real estate , land, vehicle, among others.
All monthly payments must be sufficient to purchase at least one good per month. There are consortiums that have a large number of participants and, in these cases, several people end up being awarded in the same month.
During the monthly assemblies, there are drawings. To explain better, in this process a participant is drawn and receives a letter of credit according to the amount contracted at the beginning of the consortium. However, the consortium member continues to pay the installments until the end of the contracted term.
Advantages of the consortium
In addition to being drawn monthly, it is possible to win the letter of credit before the end of the term by offering bids that, in other words, are amounts proportional to a part of the asset. However, it is important to mention that the percentages vary according to the rules of the consortium administrator.
To give you an idea of what we are talking about, when bidding, the consortium member dictates the amount they can pay. When it is a fixed bid, the administrator establishes a percentage. For example, if it is 20%, the consortium member must pay that same percentage of the total credit amount to be considered.
But what are the advantages of the Consortium?
Consortium or financing - Couple holding property key
This is a very important point to discuss, as it is responsible for turning many people's heads. And do you know what this much-talked-about point is? Bureaucracy. From the moment you want to take out a consortium, the bureaucracy ends up being much less than that of bank financing, for example. Furthermore, another positive point in a consortium is the possibility of not offering a down payment and thanks to this, it is possible to save money to use in the form of bids at the assemblies.
It is very common to see the balance of the Severance Pay Guarantee Fund (FGTS) being used as a down payment on financing. In addition, this amount can also end up being used in the bid offer in the consortium, anticipating its contemplation. And what's more, even with all this, it can also be a complement, added to the consortium's letter of credit.