Looking to buy an apt in SP and better rates than in BR.
Banks that will loan for foreign property?
jc1234
23 October 2020 11:05:51
61
Texanbrazil
23 October 2020 14:29:55
2744
Unless you have collateral held by an outside lender or the lender is willing to take the collateral, it will be difficult to find a lender not in the country where you desire to buy property,
Laws and regulations are different too risky for a property loan. Personal loan would be different, but you risk all your assets.
jc1234
27 October 2020 17:08:49
61
Personal loans are around 6% in the US, about the same as banks for mortagages in Brasil plus their fees. Probably less hassle to just get a personal loan.
sprealestatebroker
02 November 2020 23:32:26
1217
Some property owners might finance the property being sold themselves.,,,
The downside is that you do not get to dictate interest rates.
As for banks, you need to qualify for the loan. There is not way around to it.
Usually, CAIXA post the best rates, and right along, SICREDI, which is a Agro Coop Bank that has been opening up branches in Sao Paulo.
Foreign banks, except for Chinese, are gone. American banks are no longer around.
The way direct financing happens, is they do not transfer title until the loan is paid off. It's called Alienacao Fiduciaria.
If you plan to parse payments in a 12-24 month term, you then might be able to get the seller to work with you on a non interest payment plan, granted the payments are inflation adjusted.
I know as I brokered the sale of a downtown building using such.
On Alienacao Fiduciaria, the bank might be involved
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