If you are not in a hurry, the real estate consortium can be a great deal. It is a kind of collective savings (common fund), with the purpose of acquiring a specific property, where the consortium member contributes monthly and, under equal conditions with the other participants, can be contemplated through the programmed drawings.
Law 11,795 / 2008, which regulates real estate consortia, requires that the company in question be accredited with the Banco Central do Brazil, an entity that supervises this type of business. The consortium administrators manage the group’s resources, organize the assemblies, provide information to the consortium members and organize the draws.
When a participant is contemplated, he receives a letter of credit in the value of the property to be acquired, but he still needs to contribute monthly until the end of the scheduled payments. The consortium member can also increase their chances of success through bidding. The great advantage of this deal is that, once the credit value has been defined, no fee is charged.
It is necessary to evaluate consortium contracts very well, especially with regard to the withdrawal and transfer of credit or obligation to another consumer.
When in doubt, consult a real estate agent. He is the professional trained to harmonize customer demand with the best opportunities in the real estate market.
