Buying property on credit or by installments?
It is possible, but with some reservations. Most likely they will not give a bank loan to a foreigner with sources of income incomprehensible to local bankers. But there is an opportunity to take advantage of the finances of a construction company. The first installment is usually 25-30%, and the interest on the loan in the region of 7-10% per annum. Loans can be obtained for up to 15 years.
Please note that you will only receive title to the property (title deed) after you pay the last payment, which does not prevent you from using the property, renting it out and getting it on the basis of a residence permit contract. Early repayment is always welcome.
Delays in payments mean heavy fines and, risks of loss of real estate. Another feature of credit sales is the guaranteed absence of discounts on such objects.With full payment in 99% of cases, you can get a small discount of the cost, which is a pretty nice amount.
By the way, with 50% payment, installments for 12-24 months are possible for 90% of the objects sold, not including secondary real estate.
