Buying a property in Blue World City Islamabad is one of the dreams of most Brazilian families, as this acquisition provides more stability, security and a great perspective for the future.
One way to make this purchase safely is through real estate financing – a process that includes an important stage called credit analysis. Do you know how it works and how important it is?
This is the main objective of this post: to answer this and other questions in an objective and enlightening way. Let’s start by explaining what credit analysis is and how it impacts the financing of a property. Next, we will cover the main steps for credit analysis and, finally, we will highlight what you should do to get the most important information about the best properties on the market. Check out!
1. What is credit analysis and how important is it in financing a property?
Credit analysis is the action in which the real estate agent, Construction Company or other companies responsible for the sale of real estate assess the potential of the buyer to keep the installments up to date, as well as any risks.
Through it, it is possible to identify good customers with the necessary financial capacity to pay off the debt they intend to contract with real estate financing.
As important for credit analysis, we can highlight factors such as stability and confidence to buy a property and ensure both parties involved in the purchase and sale process, in addition to the much sought-after reduction in defaults.
Offers stability and confidence to buy a property
As we have highlighted, credit analysis is of vital importance for those who apply for financing. With his approval, the applicant increases confidence and has the necessary stability to carry out the business with the financial institution.
Protects seller and buyer
The credit analysis ensures less risk to the financial institution and gives the applicant a sense of what its possibilities allow him to acquire from the property in terms of values and financing method. Therefore, credit analysis for real estate financing is important to protect both agents involved.
Reduces bad debt
The main positive point of credit analysis for financial institutions is the reduction in defaults. Thus, it is possible to design less costly financing programs, considering that the risk of default will be lower.
On the other hand, those who apply for credit also win, as they only get the approval of the financing they can afford, reducing the risk of their indebtedness and the consequent loss of the asset.
2. What are the main steps in credit analysis?
We will now talk about the main steps of credit analysis: registration, documentation, property valuation and credit release. Follow us!
The first step is to register with the institution. There are real estate companies and construction companies that do credit analysis, but it is more common that this task is left to the financial institutions that carry out the financing, such as banks.
After making the registration, it is necessary to present the documentation for the credit analysis and release of the real estate financing. The documents may vary according to each construction company, but in general, include:
- RG and CPF;
- birth or marriage certificate;
- joint certificate of federal tax debts.
- updated proof of income;
- proof of address.
After this stage of delivering documentation, the property you want is valued. The asset to be chosen must fit your financial profile, in addition to eventually corresponding to your needs and profile, as well as that of the family.
If few people in your family like to drive, for example, you should prioritize apartments located in regions close to the place of study and work.
Finally, then, the credit analysis is made by the institutions that release the financing. The duration of this step varies according to each institution. In general, the deadline is ten days, but there are extreme cases where that period reaches three months.
After receiving the endorsement of the institution, the applicant can apply for the loan at any time by signing a contract with the institution. This contract must contain the main information about the financing.
It is recommended that, during the analysis of the contract, you rely on the advice of a specialized professional in order to guard against probable future decisions, since the contract is the north that must be followed.
3. How to get information about the best properties?
We will now talk about the main steps you must take to get the best properties and financing: research the market, reflect what you want and, of course, get to know Trisul.
Reflect on what you want
First of all, it is necessary that you reflect on what you want and want for your life at the moment so that the process of choosing the property and financing is done with confidence and decision.
Research the market
Before undertaking real estate financing, it is essential to conduct market research, both with regard to the properties available on the market and the financing options, combining the better of the two choices and acquiring the best option for your pocket.
Trisul is a real estate and publicly traded construction company with over 30 years in the labor market. It focuses on the State of São Paulo and high-end apartments. In tune with the trends of the civil construction market, it is a great choice for those who want a modern property, which uses good coating materials and is available at a fair price.
Therefore, credit analysis for real estate financing is an extremely important step that you must follow to buy your apartment or invest in real estate. Throughout this article, we highlight the main information to let you completely know about the subject!
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