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I bought the property and now? Check what comes after purchase

Buying a property is, in fact, a moment of extreme personal satisfaction. The act of purchase
itself does not mean just a monetary transaction, but a beginning, a first
step towards a new and different life.
All of these feelings are important, and for a while, we lived in this
dream-fulfilled atmosphere. But what about after you buy your property, what does it take to make it
really yours, and what are the first steps to take?
Thinking about giving you a direction, Loop selected some of the most important things to
be done so that you have the security of starting your life in your brand new property.
Check out!

Main Facilities – Leave your home with everything you need before you move in and live

Right after the purchase, the first thing you should take care of is the renovation of your property – if
it is completely new – if not, renovate what the apartment or house needs,
to make everything in order for you to enjoy your home.
In the first case, start with the main installations. Regulate the plumbing,
distribution and water supply inside your property and check, especially, if there
are no leaks due to negligence of the first hand of the works.
Put this same type of thinking into practice for other services that are essential to
your family, such as electricity and gas, for example, and organize so that everything is fully operational
until the occupation of the property starts.

Important Details – Some of them may go unnoticed even by the most attentive

Okay, we know that everyone thinks about the renovation, and the main installation is what
comes first, even without our tips. However, do you know how many people forget
to change the lock on the door after renovating it?
Long periods of renovation require considerable time and, unless the property owner
has this provision, it is not possible to be there always, which requires the transfer of the
property keys to the personnel responsible for the work, so that they can enter and leave if need.
Thus, changing the door lock may be necessary on these occasions, as well as looking
closely at other details, such as the peephole of the door, which is often only
remembered when needed.
All of this can be done without spending too much. In the case of the peephole, there are the
simplest models , which can cost – on average – from R$ 20 to R$ 30 reais, while the most
modern, digital models with improved resolution, can cost between R$ 350 and R$ 500 reais.

Taxes – Calculate well how much you should pay and don’t forget about them

The ecstasy from your new home purchase has not yet left your bloodstream and circulates
non-stop throughout your body. Then someone reminds you that you have to pay taxes and
go through a whole bureaucratic step.
It may look like a cold water bath, but this is a necessary step. The payment of the
mandatory tax, called Real Estate Transfer Tax (ITBI), guarantees the
new owner the possibility of transferring the acquired property to his name.
This, the ITBI, is a municipal tax and must be paid when a
real estate transfer occurs and makes the purchase and sale process official. Without the payment of this tax, the
process cannot be completed and the documentation is not released.
Thus, it is a tax collected by the city hall of each municipality and used for the benefit
of the citizens themselves, and must be paid after the public deed is drawn up, however, some
municipalities establish that it must be collected after the deed is registered.
Therefore, pay attention to the legislation of your municipality and do not miss payment deadlines. The
Tax must be paid by any natural person who wishes to transfer ownership, except
in the case of succession by death or donation.

Property Registration – Solve pending issues and have security when moving

As it was said for many decades: “It is only the owner of the property who registers”, and that is why it is
extremely important that you carry out this process as responsibly and patiently as possible,
so that there are no errors in the work.
Thus, a decisive step is the elaboration of a Public Deed – which has faith before the whole
society – and file it in the notary’s office. This basically serves to publicize the
act of buying and selling.

It is possible to check this in art.108 of the civil code:
“Not providing the law to the contrary, the public deed is
essential to the validity of legal transactions aimed at the
constitution, transfer, modification or waiver of
real rights over real estate worth more than thirty times
the highest minimum wage in force in the country”

Thus, after the public deed is drawn up and duly formalized, the process of
transferring ownership begins. After paying the ITBI – mentioned in the previous item of our
post – just arrange for the transfer of the deed and the payment slip
to the real estate registry office where the property is registered.