Four Squares Property Management provides services across the property asset life-cycle: construction stage consultancy, registration and building approval, facility management and preventative maintenance of the property.
Property ManagementRefinancing your property
Would you like to receive back up to 90% of the value of your property whilst keeping full ownership?
If you have real estate in Moscow or Moscow region and need funds to pay for renovation work, to grow your own business or just to spend on yourself, then there is every chance that you can receive back up to 90% of the market value of your apartment by refinancing it through a bank.
The process is easy.
Step 1:
You have decided to refinance your real estate and contact Four Squares. One of our real estate managers will review your personal situation and provide you with the information about which bank program is most suitable for you.
Step 2:
Depending upon the selected program you will need to prepare documents confirming your personal income from your place or work. This can take the form either of No2.NDFL (tax form) or other documentation.
Some short-term bank programs do not require official confirmation of income, though the interest rate may be higher as a consequence. Documents related to the real estate are also required; ownership documents, BTE, evaluation of the value of your property, and other documents. Your Four Squares manager will work with you to prepare this documentation.
Step 3:
Once your documents are correctly prepared they are submitted to the bank, which will review your request.
Step 4:
A compulsory part of the refinancing process is to open an insurance policy. The cost of insurance depends upon the bank, selected program and size of finance.
Step 5:
Closing the deal! Your Four Squares property Manager will accompany you to the bank, where you will sign the credit contract, mortgage contract, insurance contract. All these documents will then be sent to the state registar.
Step 6:
Receiving your money! On the basis of the registered documents the bank will issue you with the agreed funds. Your remaining task is to abide by the credit agreement and make your interest payments on time. You continue to live in the apartment and remain the owner, although you cannot sell the property without the prior approval of the bank. The bank removes its rights to the property once the credit is fully paid off, and quite often you can pay of the amount earlier than planned without penalties.
A professional property manager can help you to complete this process within one month, so don’t waste time, give us a call!