Real Estate Consortium: Understand Everything About How It Works.

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Buying a property with 33 realty is the dream of many people. Still, due to the high value and bureaucracy involved in credit approval in banks, this ends up becoming a more complicated and distant process for some people.

The real estate consortium can be an easier way to fulfill this dream, ideal for better purchase conditions.

What Is A Real Estate Consortium?

In short, everything happens when a group of people through the consortium administrators get together for the same benefit, in this case, the real estate consortium. There are several plans with installments and payment terms, and these are determined according to the amount of credit.

In this way, each month, a group member is drawn with a letter of credit, or it is also possible to receive the letter through a bid. In this case, it can be a way to increase the chances of contemplation, as the member must offer a value to advance the consortium installments.

What Is The Letter Of Credit?

The Letter of Credit is a letter that matches the value of the established consortium, being of great benefit, as it performs the same role as a cash payment. In addition, it is possible to use it both for houses and apartments and commercial rooms and land.

What Are The Main Benefits Of The Consortium?

  • There are no interest charges: One of the significant advantages of the consortium is that interest is not charged on top of the contracted amount.
  • Low bureaucracy: Compared to conventional buying real estate, the consortium is the option with greater flexibility in credit analysis, an excellent option for those who have an informal job.
  • You don’t need to give a down payment: Another benefit is that the value of the chosen consortium will be fully paid in installments, not requiring a high amount in advance.

How To Make A Real Estate Consortium?

The process to acquire a consortium through 33 realty is generally straightforward, look for an administrator and study the existing options of the plans. It is worth remembering that there is a wide variety where it is essential to define prices, amounts of installments, and deadlines to fit each person’s finances.

After analyzing these critical points, you need the essential documents, such as RG, CPF, and proof of address. Having these documents, the contract for the quota acquisition is signed.

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