   
|
Follow some explanation of the process of acquisition
of properties in pre-construction. Step
1 - Stage of Reservation To
obtain the financing, the company manufacturer (builder) should prove
that the order is based on the project proposed. The supposed
buyers make a " reservation " in particular for an unit with
a voucher of payment initial, generally of U$S5.000 to U$S50.000 that
are deposited in a bill. The Agreement of Reservation can be revoked
in any moment and for any reason by means of an order of written cancellation;
the investor receives the entirety of the deposit. In
this phase, the developer or manufacturer (builder), offers the units
to the less value that all the future phases, with prices notoriously
inferior to the market prices, offering to the manufacturer, the possibility
to prove the demand of the market in front of their future development.
The buyer found the great opportunity of “to reserve” the unit that
interests him and the available one with a small deposit of between
5% and 10%, which is completely returned in front of any circumstance.
Step 2 - Stage of Contract Once
the manufacturer obtains the number of agreements of reservation pre-sales,
the condo docs are registered in the county and a copy of the documents
is sent to the owners of the reservation attached with the contracts
that require an initial payment (of 10 to 20 % of the sale price). To
obtain earnings quickly, the contract should be transferable. It can
transfer their rights before going to closing with the Bank. In a few
weeks or months, once the builder reaches the necessary quantity of
reservations, he creates a document call “hard contract” that specifies
all the legal terms for the purchase of the unit. At the same time,
he gives the buyer the called documents “Condo Docs” that specifies all the technical characteristics and
a deep detail of the project to carry out. In this stage it is usually
asked to complete 10% or 20% of the price of purchase of the property.
Step 3 - Stage of Construction Your
contract will have an expiration date, if the builder didn't fulfill
that date you are entitled to reinstate your deposit. Once you are signed
the contract you won't need to invest more money unless you wants to
do some improvements to the unit. During this period, you will
see that several sale prices are increased as it comes closer the completion
of the unit. When transferring the contract before acquiring the unit
you can resell their rights on the unit and you will obtain the same
earnings as the builder. When the
construction of the project begins, regularly a 10% extra is requested
to complete 20% if it was not requested in the previous stages. This
process takes between 6 months and 2 years, time in which the value
of the property is appreciated in a constant way (in the last 5 years,
the values have ascended to a rhythm of 15% or 20%). In the means of
this stage, the buyer has the possibility of “assign” or to sell the
unit, generating earnings in the appreciation of the value of the same
one. Step 4 - Stage of Closing Once
the construction has concluded and if you have not transferred the contract
you will need to do the closing of the unit. If you do not make it,
you lose the deposit. For this reason, it is advisable to have a lender
and to be pre approved by some financial entity (bank Loan) before
the completion of your unit. The closing is done like in any purchase
of a property. At the moment of the closing and depending on the
elected market, you can finish with a condominium and money in your
pocket. Once finished
the development, the buyer finally is owner of the property. For this,
it will pay 80% remaining (if you didn't sell the property previously)
and you will need to get a loan or to pay cash, with the costs regularly
associated with the real estate transaction in the state of Working with
us you can be
confident in knowing that service is a key to our success for being in business for many years.“
We can assist you in buying or selling of you property with ease
". Call us Today ! 1-561-902-8325 or send us your information completing the Contact Form.
|