How to buy a house with a housing subsidy

Did you know that around 65% of the housing subsidies granted by the Ministry of Housing and Urban Development (Minvu) are not collected by the beneficiaries? Although the reason for this has not been determined, the reasons may be several: they have not found the property they need, they have not been able to obtain the required complementary financing, or they simply do not know what to do due to lack of information.

From the postulation to the contribution of the State to the acquisition of the longed for home, the process requires time and a countless number of iris, venires and paperwork, which not all Chileans know how to obtain. The dream, then, becomes a nightmare that many prefer to start.

Once the person applies for the subsidy and it is awarded, we start with the procedure to make the purchase with the benefit. We guide in the search of the property, thanks to agreements that we have signed with real estate agents and brokers. Then, we advise on everything that has to do with the appraisal of the house, the studies of title, the registration in the Real Estate Conservator, and if the client needs to complement the purchase with mortgage credit, we have agreements with banks and other entities of financing.

A dream come true

Although there are several agencies of this type, many of them require that people already have the housing subsidy awarded, obtained the bank financing and chosen the property.

Times are variable. What the process does hurry is to find the house that the client wants to buy, since everything will depend on the conditions in which the property is located. We assure that, once the purchase is made, the client will not have problems in the future with that house, for example, if he wants to sell it later.

The cost of the service includes counseling, appraisal services, title studies, notarization, notary costs, registration in the Real Estate Curator, processing before the Serve, and so on.

Pay attention when choosing the home. The property must meet certain minimum conditions to be purchased with subsidy. You cannot buy homes between family members or politicians, nor can you choose unfinished houses, or those that do not have municipal reception, including their extensions. Another key point is that the value of the property cannot exceed the equivalent amount in UF established according to the tranche of the awarded subsidy.

Documents and necessary procedures. When the choice of property is ready and in order to formalize the purchase, you must comply with a series of steps to materialize it. For example, obtain complementary financing (if necessary), appraisal, and study of titles, deed, and registration with the Real Estate Curator, among others.

The process can be long. One of the main causes of the delay in the purchase process is the state in which the title deeds of the property are found. If this one presents, for example, some type of litigation for seizures, inheritances, divorces, among others, everything will be slower, since the problem must be solved previously. The validity of the subsidy is 21 months, with the possibility of being renewed for a maximum period of 18 additional months as long as it is proven that the deed of sale is in process of registration.