You have just visited a house and it’s your favorite! To be sure of making it yours, you can make an offer at the sale price, which the seller will not be entitled to refuse. Yes, but you foresee some renovation work to be carried out and therefore wish to negotiate a discount of 10,000 euros. With the corollary risk that another buyer, with a better bid, wins the bid… A document, unknowncan help you secure your real estate purchase project.
This is the certificate of feasibility of financing your acquisition, which real estate loan brokers can provide you with even before sending your file to the banks. “We can edit this type ofcertificate, which certifies that, on the basis of the elements that we have received from the purchaser, their purchase project is financeable”indicates Caroline Arnould, general manager of the broker Cafpi, during a press conference this Thursday, October 9.
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Make the difference compared to other purchasing candidates
What exactly does this certificate of feasibility look like? He mentions the maximum amount of real estate purchase for which a bank is willing to follow you, for example 300,000 euros. The certificate also specifies the maximum loan amount that a bank can grant you to complete your financing if you have a personal contribution. For example, a loan of 270,000 euros, for a contribution of 30,000 euros. Finally, the certificate must include its date of issuethe signature and stamp of the broker, as well as your last name, first name and date of birth.
To be able to issue you with this certificate, your broker will of course have first determined your borrowing capacity, on the basis of your pay slips, bank account statements and your personal contribution. With this certificate of feasibility, “by reassuring the seller, you put all the chances on your side to obtain the property you covet. If several buyers make an offer, presenting a financing certificate could make all the difference. assures Meilleurtaux on its website. The broker even advises buyers to request this certificate before any visit of a good, in order to be able to draw it in case of crush.
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A standard to secure the seller
It would be a shame to deprive oneself of it, especially since this document “East free»underlines Caroline Arnould. “We are doing quite a bit today but there was a real explosion of these certificates when credit rates began to rise rapidly in 2022”so much so that many financing files quickly reached the usury rate, beyond which banks are not allowed to lend, recalls the general director of Cafpi.
Producing a certificate of feasibility reassured the sellers, who feared that the buyers would ultimately be refused their financing, several weeks after acceptance of the purchase offer. “In the Netherlands, the certificate of feasibility is almost obligatory”indicates Julien Langlade, president of Cafpi. This is not the case in France but it is still becoming “a standard to secure the seller”assures Caroline Arnould.
