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| Buying/Renting Property | |
 Gringoes.com : Brazil : Buying/Renting Property |
 Topic: FGTS ???? |
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mark k
Groupie 
Joined: 12 February 2011 Location: Brazil Online Status: Offline Posts: 70 |
   Topic: FGTS ????Posted: 26 June 2012 at 18:44 |
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i was wondering if somebody out there can explain to me how this FGTS thing works.
i signed a contract buying some land.....the initial downpayment and then 2897.00 br per month for 60 months But everytime the bill comes it never is 2897.00 br, it is always between 20-100 br more so far.I am just curious to know how much more can you end up paying?? and how they work this out??..i have had people try and explain this to me but they turn it into a numerical nightmare!!... can some one do it in laymans terms so its easy for a working man to understand. Is this normal?...i was always under the belief that you pay what it says in the contract you sign. any feedback greatly appreciated.. gringo.floripa i have a feeling you know all about this |
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sven
Gringoes.com Guru 
Joined: 14 March 2007 Location: Brazil Online Status: Offline Posts: 12797 |
Posted: 26 June 2012 at 20:36 |
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Except that you made the initial payment with FGTS, what else does this have to do with the FGTS? What is it that they are charging? What type of loan is it?
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frank4000
Senior Member 
Joined: 29 November 2008 Location: Trinidad and Tobago Online Status: Offline Posts: 1512 |
Posted: 27 June 2012 at 02:59 |
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sven how does FGTS work?
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Meu Vizinho Jogou um semente no seu quintal
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tbird
Senior Member
Joined: 15 June 2012 Location: Brazil Online Status: Offline Posts: 522 |
Posted: 27 June 2012 at 04:53 |
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Fundo de Garantia do Tempo de Serviço - the employer pays 8% of the employees salary into a fund which he/she can access at retirement or if laid off unfairly (and under certain other circumstances).
Mark, I'm not saying that they are taking you for a ride, but I don't think that FGTS applies here. Could be other taxes or fees. Edited by tbird - 27 June 2012 at 04:59 |
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sven
Gringoes.com Guru
Joined: 14 March 2007 Location: Brazil Online Status: Offline Posts: 12797 |
Posted: 27 June 2012 at 07:59 |
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@frank, that's about it. It's a savings fund and besides the fact that it can be used as a retirement fund it can also be used to buy a home.
@mark, I agree with the above. What extra fees are they charging? |
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mark k
Groupie
Joined: 12 February 2011 Location: Brazil Online Status: Offline Posts: 70 |
Posted: 27 June 2012 at 08:48 |
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i am not sure what the extra charges are for....i was probably mistaken then when i called it FGTS
Unfortunately i do not have a copy of the contract with me at the moment as i am working abroad...will be back in brasil around 9th july. It was dealing direct with the developer...i payed initial deposit and then the balance was worked out according to a table they had for payment plans over ,24, 36, 48,or 60 months......... so i have been told so far is that these monthly payments they had on their tabela may vary from month to month due to some sort of increase or possible decrease in tax or whatever it is called.......... as this is where it all becomes confusing for me and i was hoping somebody could explain. I mean so far i have not had to pay much more per month the lowest was 20br more and the highest has been around i think 50br I have since looked it up and i think it could be the IMPOSTO DE TRANSMISSAO DE BENS INTER VIVOS (ITBI ) which for sao paulo is worked out on a graduated scale of 0.5 - 2% Could this be it??? like i said i do not have a copy of the contract at hand Edited by mark k - 27 June 2012 at 09:12 |
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Mineiro_Alemão
Gringoes.com Guru
Joined: 14 April 2006 Location: Brazil Online Status: Offline Posts: 2167 |
Posted: 04 July 2012 at 15:41 |
Don´t think so! The ITBI is a city tax that you pay to the city where the real estates is located when it´s transfered into your name. Has this been done or is it still in the name of the developer untill whole payments are done ? Do you get a kind or reciept or calculation sheet each month or just the boleto bancário? How is the payment done, bank transfer, boleto, or ... ???  |
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Grads
Senior Member
Joined: 20 March 2011 Location: Brazil Online Status: Offline Posts: 611 |
Posted: 04 July 2012 at 19:16 |
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the ITBI (transmission tax) is usually paid as a one time fee, and it is usually the buyer's responsibility to pay it directly to city hall, unless somehow weird crativity has crept into your contractual agreement. better check your contract closely. the floating ? FGTS sounds strange too. in fact, just based on the info you present, i cannot think of any reason why you should pay something variable, but anything is possible, i guess.
usually, one only pays an exact amount monthlty payment which the contract stipulates. do not pay more...especially to a developer or contractor, unless you are sure of validity of their bill. when buying property with such a short term, it is useful at the time of sale to stipulate making monthly promissory notes to the seller, which should be returned to you (like a receipt) for every monthly payment you make. then, there is no confusion - and especially no room for any additional, confusing fees. you are basically right, though, you should only pay as per the contract...just make sure you understand it thoroughly. sales contracts should be fairly black and white, unlike some contractual agreements in brasil. that's why there are so many lawyers!!! good luck |
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Quem puxa os seus nao degenara.
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floripasurfer
Senior Member
Joined: 07 June 2006 Location: United States Online Status: Offline Posts: 122 |
Posted: 05 July 2012 at 06:36 |
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With your payment plan do you still have to pay an amount at the end of your 60 months or is it fully paid after the 60 month payments with no final payment?
It could be an INCC based adjustment if the developer is spending money each month to develop the common areas and add utilities, etc. to the land. If they are applying an INCC adjustment it should be in the contract. Not sure about land but all the property contracts i have had with builders have had an INCC adjustment and the INCC rates change each month. For example on one of the properties I bought from a developer it had a monthly payment but I paid off all the monthly payments early in 2008 and since then have just had the remaining balance due with the keys. Below is the statement from the builder showing how this remaining balance adjusts monthly by the INCC rate for that month. over the last several years this index has typically been between 0.3 to 1.1% but there are some abberations to this range such as May 2009 was -0.25 and July 2011 was 2.94% Data do Contrato 15/09/2008 Valor da parcela 97.452,80 INCC/Mês Variação % Correção mês Valor Atualizado 01/10/2008 1,180518147 1150,448 98.603,25 01/11/2008 0,947509053 934,275 99.537,52 01/12/2008 0,774923814 771,340 100.308,86 01/01/2009 0,498408008 499,947 100.808,81 01/02/2009 0,171452854 172,840 100.981,65 01/03/2009 0,333245873 336,517 101.318,17 01/04/2009 0,267861943 271,393 101.589,56 01/05/2009 -0,254959026 -259,012 101.330,55 01/06/2009 -0,042520331 -43,086 101.287,46 01/07/2009 1,393499931 1411,441 102.698,90 01/08/2009 0,702846346 721,815 103.420,72 01/09/2009 0,263374013 272,383 103.693,10 01/10/2009 -0,054685892 -56,705 103.636,40 01/11/2009 0,147899066 153,277 103.789,67 01/12/2009 0,061553584 63,886 103.853,56 01/01/2010 0,293272375 304,574 104.158,13 01/02/2010 0,098898095 103,010 104.261,14 01/03/2010 0,638639979 665,853 104.927,00 01/04/2010 0,360598247 378,365 105.305,36 01/05/2010 0,750000007 789,790 106.095,15 01/06/2010 0,839999988 891,199 106.986,35 01/07/2010 1,809999876 1936,453 108.922,80 01/08/2010 1,089999815 1187,258 110.110,06 01/09/2010 0,439999711 484,484 110.594,55 01/10/2010 0,139999737 154,832 110.749,38 01/11/2010 0,210000035 232,574 110.981,95 01/12/2010 0,199999781 221,964 111.203,92 01/01/2011 0,370000036 411,455 111.615,37 01/02/2011 0,669999916 747,823 112.363,19 Pág.1/2 Data:12/06/2012 01/03/2011 0,40999974 460,689 112.823,88 01/04/2011 0,279999831 315,907 113.139,79 01/05/2011 0,42999977 486,501 113.626,29 01/06/2011 1,05999991 1204,439 114.830,73 01/07/2011 2,939999906 3376,023 118.206,75 01/08/2011 0,369999903 437,365 118.644,12 01/09/2011 0,449999977 533,898 119.178,01 01/10/2011 0,129999751 154,931 119.332,95 01/11/2011 0,139999935 167,066 119.500,01 01/12/2011 0,229999851 274,850 119.774,86 01/01/2012 0,719999898 862,379 120.637,24 01/02/2012 0,109999973 132,701 120.769,94 01/03/2012 0,889999985 1074,852 121.844,79 01/04/2012 0,299999827 365,534 122.210,33 01/05/2012 0,509999782 623,272 122.833,60 01/06/2012 0,74999984 921,252 123.754,85 Edited by floripasurfer - 05 July 2012 at 09:09 |
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