The deed of the property is an extremely important document. Only in possession of it can someone begin the process of transferring ownership of a house or apartment. For this reason, containing failures is considered serious.
If you are a real estate agent like the agent of Blue World City, you should be aware of the most common mistakes, which include the lack of document verification and incorrect guidance on fees and taxes.
To assist you in this task, this article will address what the broker’s responsibilities are in relation to the deed of the property. Come on?
Explain the importance of the document
Some people believe that the purchase and sale contract alone is enough to guarantee ownership of a property. However, this is not true. Justice considers the owner of a property the one who has his deed.
It is up to the broker to explain this to the buyer, after all, it is their job to clear up any doubts regarding the necessary documentation to carry out the deal.
It is common for people to want to ignore this bureaucratic step, believing that it takes too much time in the sales process or that it costs a lot of money. The idea of saving may be tempting for some buyers, but it is up to the broker to clarify that there is no advantage in this initiative.
This is one of the moments when the popular saying “cheap is expensive” applies since the lack of public deed can lead to judicial disagreements between the parties.
In fact, the purchase and sale contract is not considered an official document for the courts. Therefore, the need to make it official through a public deed.
It is important to clarify that in case of purchase through real estate financing, the deed is not necessary. The financing contract assumes the role of that document.
Check the necessary documentation
The preparation of the deed of the property requires the analysis of several documents by the contracted notary. To streamline the process, it is important for the broker to guide the parties on what documents they will need to provide. Are they:
Property documents (rural or urban)
- IPTU or ITR;
- Updated property registration;
- Negative certificates of liens or shares;
- Certificate of registration in the municipality, renal value and negative certificate of municipal debts of the property;
- Certificate of absence of debts, issued by the liquidator, if the property is in a condominium. In addition, a copy of the liquidator’s election minutes must be included;
- Rural Property Certificate or Certificate (CCIR).
- RG and CPF;
- Marriage or Birth Certificate;
- Registered prenuptial agreement;
- Full address and profession.
- Certified copy of RG and CPF of all owners;
- Wedding certificate;
- Proof of residence;
- Profession of all owners and spouses;
- Registered prenuptial agreement or the Public Deed of a prenuptial agreement.
The documentation check exists to guarantee the legal security of the business. Imagine how unpleasant it is for the buyer to acquire a property that he later discovers is involved in a legal dispute or is part of an inventory. This brings great insecurity, and can even cause the business to be undone.
For this reason, real estate agents tend to be very cautious in this regard, carefully analyzing the certificates presented by the parties, personal documents and those of the property.
If the broker acts without the support of a real estate company, he will be responsible for guiding this process, taking care that everything is done according to the law.
Guide on the payment of fees
The buyer will have to pay the Property and Real Estate Transfer Tax (ITBI). This is a municipal tax. Normally, the value of this tax is around 1% to 3% of the property’s market value.
The payment of the ITBI is mandatory so that the buyer has access to the capital of a real estate financing and can register the registration of the property, becoming an owner of the property in the eyes of the law.
In the case of financed properties, it is possible to include the amount of this tax in the financing.
Instruct on the Property Registry Office
In possession of the property deed, the buyer must attend the Property Registry Office for the document to be analyzed. This process lasts up to 30 days.
At this stage of the process, it is necessary to pay new fees, with amounts fixed by the Official Letter. They are called “emoluments”.
Since 2017, in the Federal District, the name of the broker who made the sale must be included in the deed of the property. Pay attention to your state’s rules.
Be clear about the risks
Many professionals, in their desire to close the sale, omit information that can harm the parties involved in the business. This cannot happen. It is the broker’s obligation to clarify doubts and inform about any risks that the purchase may contain.
This means that it also cannot omit information related to the property’s infrastructure, such as the lack of reforms or improvement works.
Don’t behave like a lawyer
Despite being a key player in a real estate negotiation and having studied the real estate market, it is important to clarify that the broker is not a lawyer.
This means that he is not obliged to propose contractual clauses for the deed of the property. At the same time, you should also not act as an attorney for one of the parties.
The realtor is a professional specialized in the real estate market, who seeks to help sellers and buyers to meet and make good deals. Any legal doubts must be clarified by a lawyer specialized in the real estate market.
It is not safe for the broker to assume this role, even if he knows what he is doing. In the event that one of the parties feels injured by the clauses of the deed of the property, it may argue that it was poorly instructed by the broker.
As we saw in this article, the design of the property deed requires several steps. A broker who understands this process, and manages to make it simpler for his client, becomes a differentiated professional, attracting the attention of more people. On the other hand, a broker who shows insecurity during the process of writing the property may lose sales indications.
If you need support to talk about real estate financing, talk to our consultants. CrediPronto is a reference in this theme.