When the consortium member is contemplated, he can use the credit to put his real estate projects into practice. However, some people sell the contemplated letter because they have no intention of acquiring the good at the moment or wish to have a more qualified return than the available applications. Check out advantages and cautions when buying a contemplated letter of credit.
Letter of Credit contemplated
The letter of credit is used after contemplation, whether by lot or bid, and allows the use of credit according to your possibilities. One of the benefits is to offer spot trading power.
Acquiring a contemplated card means you get the value right away, without waiting for the credit to be released (by lot or bid). It is common for some consortium members already contemplated to change their plans regarding the property and decide, due to the qualified financial return, to put the letter of credit for sale.
What is charged on a covered letter of credit?
In this type of transaction between customers / sellers and customers / buyers, an entry fee is charged, which includes what has already been paid with installments and bids, taxes, commission and financial gain requested in the negotiation.
This amount depends on how the credit was granted and how many installments were paid. It is important to note that those who choose this transaction pay a higher amount than in their own consortium, but the business is still profitable.
Is it worth buying a contemplated letter of credit?
Purchasing the contemplated letter is often more economical than financing, even with the purchase price of the contemplated credit (down payment). This operation is especially advantageous for those who urgently need the good because it is not necessary to wait for contemplation.
Care with the purchase
When buying a contemplated letter of credit it is necessary to take some precautions. It is important that the interested person researches very well about the quota they want to acquire, checking the validity of the documents. To make sure the business is legitimate, you can consult with the administrator and ask any questions you may have about the purchase.
After verifying that the quota has the correct documentation, you need to do the calculations and determine if the amount to be paid is interesting.
If the prospective buyer of the contemplated letter has at least 50% of the credit, it may be more profitable to bid on his own pool, and save by not paying the quota seller financial gain.
Closing the deal
At Ademilar, letters are not sold, but consultants oversee the process and put interested parties in touch. They provide all the necessary support for the acquisition, such as property inspection and client documentation survey. This data is taken to the credit committee, which approves the transaction or not.
From this moment on, the customer is assured that he can proceed with the transaction, and Ademilar authorizes the parties to enter into the contract.
When making the purchase, it is important not to pay any amount without first contacting the investment adviser and manager. Ideally, the payment should be made after inspection of the property, approved process, contract and signed terms.