Real Estate Payment: understand everything about the topic!
The donation in payment of real estate is a way to
pay off a debt indirectly. Thus, it is equivalent to the settlement in money,
signing an agreement between the parties. Its regulation takes place by the
rules of the purchase and sale contract.
That is, it is a way of extinguishing a debt by
replacing an original payment. To understand more details, follow everything on
the subject and ask your questions about payment in kind.
Buying and selling Roatan
Honduras real estate with exchange or donation: understand the
precautions you should take.
What does
payment in payment mean? Understand the concept
In-payment is an agreement in which the creditor
agrees to receive from the debtor a replacement for the original payment.
To be clearer, imagine that someone owes R$ 30,000
to a bank, but does not have this amount in cash. Then, the person offers a car
worth the debt for discharge.
This process can be done with virtually all assets
on behalf of the debtor . However, it is more common for the creditor to accept
real estate in the payment of debts. The important thing is that the property
is equivalent to the amount owed.
After establishing the values, just close the deal
and sign the contract. With this, the creditor retains possession of the
property, while the debtor has no further commitment to pay.
How does the
donation work in the purchase of real estate?
The dation works when there is an overdue debt.
Then, the creditor agrees to receive a miscellaneous payment, as an asset. If
there was interest from the parties, it is possible to close the debt by
offering this property.
Although one of the main forms of payment in
payments is using real estate, it is necessary to pay attention to this. This
transaction has specific characteristics that must be considered.
If the person receives a property to pay off a
debt, he can pay taxes on it. This happens, since the operation is a sale.
Thus, it is subject to the incidence of Income Tax.
Therefore, when declaring the IR, it is necessary
to determine a capital gain from the transfer of the property . So, it is
essential to know that there is the possibility of a 15% tax rate.
What must a
contract for the donation of goods and real estate contain?
It is important that the creditor's consent is
clear in the dation contract so that the payment can be replaced. After all,
this is the exchange necessary to finalize the outstanding balance between
them.
You must also have the correct valuation of the property.
For this, it is essential to know how much the good is worth and if it is at
the requested value. At this point, real estate consulting is essential to
avoid errors in the calculation.
It is worth noting that the method of payment made
is different from the established one. Thus, it will be clear that a property
has entered the negotiation as an exchange.
After specifying what is being offered in the
dation in payment and the amount of the debt, it is enough for the parties to
sign the contract and complete the process.
Real estate
payments: pros and cons!
Of course, the process of giving in payment of real
estate has its particularities. Thus, it can bring advantages and
disadvantages. Keep track of the positive and negative sides of opting for this
way.
Benefits
·
Streamlines the selling process: Selling a
property can be very time consuming. As for the payment of real estate, the
process is fast, because there is the interest of the parties.
·
It reduces bureaucracy: this happens since it is
not necessary to go through the visit of interested parties, negotiation of
values and other procedures for the sale of properties.
·
Increases purchasing power: when there is
economic instability, the sale can take months or years, not to mention the
devaluation of the asset in some cases. What does not happen when making the
donation in payment.
·
Possibility of continuing in the property: the
former owner can continue to live in the house or apartment until the deal is
finalized. This is very advantageous, especially when the process is done to
get a new property.
Now follow the challenging points if you choose to
give in real estate payment.
Disadvantages
·
Difficulty in passing the property for the price
it is worth: the creditor needs to pay the document of the good received in the
donation and other expenses, such as commissions. This leads to a drop of 10%
to 30% in the total property.
·
Need to pay attention to values: it's important
to be aware of the difference in the values of new and used property, so that
it doesn't come as a surprise when sending the balance financing.
·
Judicial care: it is necessary to make a good
judicial contract so that there is no fraud against creditors.
Knowing the advantages and disadvantages of a
dation in payment of real estate, it is up to each dealer to assess whether it
is the best way for their case.
Process for
giving property: see how to do it!
The first step in the real estate assignment
process is to find a reliable Roatan Real Estate. So a registered
broker can start all the paperwork.
Trying to make the transaction yourself can end up
creating major complications and increasing the chance of errors in the
documents.
Then, the broker can assess what you are looking
for by collecting data on the asset. This is essential to properly appraising
your property. Among the questions are:
·
Localization;
·
Size
·
Number of parking spaces in the garage;
·
Finishing;
·
New or used;
·
Plumbing;
·
wiring;
·
If you need renovations, etc.
As it is necessary to negotiate the values, the
broker works as a mediator in this process. Thus, it makes everything safer and
more professional.
After all,
is it worth relying on the donation when buying a property?
The process of giving in payment of real estate
needs agreements and contracts. It is still necessary to do a good examination
of debts. With the debtor's documents, it is possible to provide legal
certainty for the business.
So, giving in payment of real estate is worth it if
you want to pay off a debt and don't have all the cash value. From the pros and
cons, you can understand if this is the best option at this moment. Now that
you know more about donation, enjoy and find your dream property at Bridge.
Read also: Property
purchase and sale document: what it is, importance and more!
