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Real estates companies vie in loan offers

Racing for clients, the real estate developers try luring clients by offering them pay terms as varied as possible.

Developers for the average plus and luxury segments chose tier pay, namely 10-25 percent for down payment when the pre-agreement is signed, and another 25 percent 6 months later, and so on till full payment. An ever more often variant is the two tier pay. Average people most often choose to pay for their dwellings paying down 25 percent of the price when the pre-agreement is signed and the remainder of 75 percent in the end, at the last deadline. The monthly tier payments or the less than 10 percent down payment have been rather seldom so far, because the developer takes higher risks. 'Clients may more easily change their minds before signing the final agreement or the client who cannot pay down even 20-25 percent of the amount may fail to get the loan, after all,' Evenimentul zilei daily quotes ESOP Consulting partner Irina Petrescu as saying. Loans can usually be obtained from the same bank that the real estate developer relies on. Paying a low down payment ranging between 5 and 10 percent when the pre-agreement is signed and the rest in the end is meant to those who do not afford to pay down 25 per cent of the total price first. The buyer's advantage in such cases is that he can opt for being financed by any bank without being confined to the financing bank. Nevertheless, the disadvantage is that such an option brings a rise in the price in most cases. Sursa: http://www.rompress.ro

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